21-03-2025
Know your gambling limits during March Madness
DENVER (KDVR) — March Madness is ramping up, and the Colorado State Rams play the Memphis Tigers on Friday at noon.
A lot of people set up brackets with friends, and others will turn to sports betting apps to try and win big.
It is also Problem Gambling Awareness Month.
Revenue from U.S. sports betting hit a record high of over $13 billion in 2024, according to the American Gaming Association's annual report. There's always a spike during March Madness.
These March Madness teams are playing at Ball Arena
The Colorado Lottery shared tips on responsible gambling:
Set a dollar limit and stick to it
Take a break from playing every now and again
Know how the games work and your odds of winning
Never chase your losses
Don't play when you are upset or depressed
Never gamble with money needed for expenses
Don't gamble on credit, borrow to play, or gamble illegally
If you're unsure whether you're overstepping your limits, ask for help
Some apps, like DraftKings, are making an effort to encourage bettors to take advantage of the resources.
'So, everybody should have some rules about setting budgets and making sure that their gambling is for fun. So, really checking in on your time and your spending and really utilizing the tools that are out there,' said Lori Kalani, chief responsible gaming officer at DraftKings
Bet Smart Colorado has self-exclusion resources. It means people have signed up and are making a conscious voluntary effort to exclude themselves from 'all forms of gaming' under the Colorado Limited Gaming Control Commission and the Colorado Division of Gaming. People can be on the self-exclusion list for either one, three or five years.
March Madness: A data-driven exploration
As of last month, there were 430 people signed up for the program.
'Play responsibly. Again, March Madness comes at you super-fast, lots of games every day, lots of upsets. So, just check in on your time, check in on your spending, take a break when you need one, use the tools that are available to you, and most of all, really just have fun,' said Kalani.
The Department of Gaming and the Colorado Limited Gaming Control Commission recently awarded almost $3 million in grants to help efforts that impact, improve and support responsible gaming and problem gambling programs in Colorado.
If you need someone to talk to? Reach out to the 24-hour, confidential helpline: Call or Text 1-800-GAMBLER.
Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
