Published on: December 3, 2024, 08:16h.
Last updated on: December 3, 2024, 08:16h.
Former Democratic presidential candidate Andrew Yang expressed concerns about the negative impact of sports wagering on American men. He believes that states should implement better regulations to protect individuals from harm.
In his opinion-editorial piece for Newsweek, Yang, an entrepreneur and lawyer, admitted to being a bettor himself. He mentioned being enticed by a $250 promotion from an unnamed sportsbook. He regretted engaging in sports betting, emphasizing its exploitation of emotions commonly found in men.
Yang stated, “Betting on sports online is a perfect storm for men, as it combines elements we enjoy such as sports, money, speed, risk, and the illusion of superior knowledge. It’s social and creates the perception of sports as a lucrative job.”
Research indicates that men are more prone to addictive behaviors than women. This vulnerability extends to problematic betting patterns, as well as alcohol and drug abuse.
Financial and Social Implications Highlighted by Yang
Yang highlighted the financial challenges associated with sports betting, citing data that shows only a fraction of the money wagered on sports makes its way into investment accounts. Studies have also linked sports betting to increased household bankruptcies, particularly among men in lower income brackets.
The founder of the Forward Party emphasized that personal bankruptcies rise in households with avid sports bettors, with a disproportionate impact on men in lower income groups.
Recent studies have linked the rise of sports betting in the US to negative impacts on credit scores and increased bankruptcy filings.
Yang also pointed out that the stress and negative emotions resulting from losing sports bets contribute to a rise in instances of domestic violence. Research suggests that “legalized sports betting leads to a 9 percent increase in domestic violence.”
Yang’s Warning Against Further Legalization of Sports Betting
With 39 states and Washington, DC already allowing some form of sports betting, Yang discouraged states like Alabama, Alaska, California, Georgia, Hawaii, Idaho, Minnesota, Missouri, Texas, and Utah from legalizing sports wagering. He urged policymakers to resist the influence of gaming company lobbyists.
Yang concluded by stating, “Online sports betting acts as a detrimental tax on vulnerable, low-income men. It exacerbates financial struggles and emotional turmoil. It is not in the best interest of your citizens.”