March Madness can bring fun and financial ruin as experts warn of gambling concerns

Yahoo

19-03-2025

Boston College isn't playing in the NCAA basketball tournament, but that doesn't mean a lack of March Madness on campus. Some, like BC student Noah McGuire, will be cheering on other teams — and hoping for a pay-off.
'Probably going to bet on March Madness,' he said. 'I usually only throw down ten bucks a game. Once a week will do it.'
McGuire, like millions of other sports fans, will turn to one of the many online sporting apps to place his March Madness bets. And it's likely those sites — such as DraftKings and FanDuel — will see a surge in business as the tournament winnows down to the national championship.
Janine Ruggiero, chief communications officer with the Massachusetts Council on Gaming and Health, said it's likely more college students will be playing because they are the targets of heavy advertising by the betting industry — and because it's so easy now to place a bet.
'The promotional bets, promotional offers that are being served to young people, I do think they are enticing,' Ruggiero said. 'So that's led to an increase in participation and gambling. I do think that younger people, as soon as they can, are wagering on these apps,. It's become cultural. Just watching sports has taken on a different experience.'
That experience — betting on sports — is still a relatively new phenomenon in Massachusetts, which only legalized it in 2023. And some restrictions still apply — including no betting allowed on college teams in the state unless they are playing in a tournament.
The Massachusetts Gaming Commission reports that for the six months ending in January, taxable revenue from sports betting topped $387 million. The state took in $77 million in taxes from that amount.
While any form of gambling can turn into a problem, Ruggiero said sports betting is more likely to result in a problem.
'Gambling is a risky endeavor,' Ruggiero said. 'Gaming is on a spectrum and sports-wagering is on the riskier part of that spectrum, meaning it is more addictive.'
That addiction can lead to something called 'chasing losses.'
'When you chase losses, you continue to go and try to make your money back,' Ruggiero said. 'That does lead to a propensity, an inclination to more addictive behavior.'
Worse, chasing losses is accompanied by a false sense of control over the outcome of a game, she said.
'The bettor thinks their knowledge can help them influence the outcome and help them to make money, and that's simply not the case with gambling,' said Ruggiero.
Financial issues aside, other signs of a problem gambler include lying or concealing bets and losses, faltering relationships at home and work and perhaps even legal trouble.
'A person with a gambling addiction can cause a lot of destruction,' Ruggiero said.
There is help, however. A program called GameSense (gamesensema.com), run by the Massachusetts Gaming Commission, provides information and guidelines on 'safer' gambling. These include placing limits on frequency of gambling and amount to be gambled.
BC Student Matt Wright isn't following the frequency recommendation — he gambles every day, he said. But he does limit his wagers to modest amounts.
His advice on getting through March Madness without a massive gambling debt? Be consistent.
'If you bet like me, five, ten dollars a game, keep it consistent,' he said. 'The way people lose a lot of money is when you kind of go off the rails and you go on a losing streak and you kind of up your bets. That's just a dangerous way to play.'
If you or a loved one has a gambling addiction, you can call the hotline at 1-800-522-4700 to get help.
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