Online sports betting ruined my fiance's best friend's family. Their dad died about 5 years ago and left them with half a million dollars. Her brother, who is a doctor and his extremely intelligent, gambled away the entire fortune with online sports betting. Lost half million in just under 3 years. It was awful, when they found out what he had done, they were beyond enraged. He took his wife and two kids and moved across the country, presumably out of a sense of shame and they don't talk to that part of the family anymore.
@@Handlebrake2 addiction is a disease. Dont shame someone for being manipulated. These gambling sites spend the largest chunk of their money figuring out how to best get inside and stay inside your brain
Ever notice how they market these sports betting apps to black people specifically? In ALL of the major ads for such apps it's always a black person narrating the advertisment and clearly is trying to entice african americans to gamble with money that the majority of them DON'T have so that when they eventually lose they end up having to resort to sometimes violent crime in order to pay off their gambling debts. It's alin to all those big pharma ads for HIV drugs that stereotype african americans as being the predominate source of HIV infections.
Because the intro is the least engaging thing ever... she doesn't really make a real point and is wish washy as hell so I can see why a lot of people might have clicked off
One of the scariest things about gambling financially is that it’s the only addiction with no upper limit. You can only physically put so much money into alcohol or porn or heroin or shopping, but gambling allows you to lose a million dollars in a fraction of a second.
@@tylertv7622idk how it is in the us, but here there's a lot of illegal lending services and sometimes it's even a service given by the gambling app/web. It's predatory and leads someone who's not in a good mind space to take thousands of debt only to have that evaporates too.
Gambling is a cancer on society. More people need to be aware of this. There are good reasons we banned them in the first place. Now, not only have we brought back the neighborhood casino and bookie, we've put them in teenager's pockets. That the government is complicit and taxing it doesn't make it better. We shouldn't be paying for public services off of the suffering of gambling addicts, and that's assuming that gambling is a net contributor of taxes, as you pointed out, it probably doesn't.
Gambling is by far the most dangerous addiction rightnow, it does not have the stigma of alcohol, drugs or smoking, is easily accesible to all the population and gets prime time publicity in games (From someone who sees it constantly in NBA games). But as long as the richest people profits from it, it will continue be the demise of all the rest of people. Great video and it should have 100x the views it has. 🙌🏻🙌🏻🙌🏻
Completely ridiculous gambling is most dangerous? You've clearly never been addicted before or have any idea what you're talking about. Drugs can actually kill you with no external factors besides volume. Gambling....cannot! Lmao
@@JimmySentencebeen addicted to Xanax, valium, cocaine, mdma , weed almost any substance about , could never be addicted to loosing money lol I understand the rush of tryina chase that big win or chasing loses but by the time your a few 100 down cut your losses , anything you can't afford is just stupid get a hobby throw your phone away , gambling could never compare to real addiction it's more of a compulsion/ stupidity, drugs physically and mentally take over your soul , I don't see how loosing money can be a good feeling especially when your already feeling shit , some of us just wired different lol
In Australia not only do we have online gambling, there are slot machines in literally every pub, it is insanely normalised. Basically every time I go out with my family we will end up going to the ‘pokies’ and the rooms are always packed with people. It’s a massive issue but our politicians love the revenue so they have no incentive to make any changes.
You are clearly so intelligent. Thank you for taking the time to speak about this in depth. Gambling addiction has robbed me of happiness. I hope more is done to combat this so less people go through the suffering that me and my family have gone through. I’ve lost 150k btw
It's scary that the exact same playbook is being followed in South Africa. I have been sucked in, got myself out and got sucked back in. Their ads are everywhere, all the time, it's hard to stop. Thank you so much for making this video - it feels like no one is noticing or talking about this.
I was apprised of it seven years ago when I was in law school. One of my professors was fighting ardently to legalize sports betting in New Jersey. It wasn't a big deal to me because I'd been doing it for years on BetOnline, but before it was legalized throughout the United States, you had to either go to Nevada to bet on sports or trust offshore books like BetOnline and Bovada to pay you your winnings in a timely fashion.
@@thefinancialfreedomgirl I agree and it's just as bad as the direct marketing to consumer big pharma advertising. Would you perhaps be interested in producing a video covering the history of this scourge on American society? As I understand it only the USA and New Zealand permit direct to consumer advertising for big pharma's prescription drug racket while the rest of the world does not.
In South Africa, it is highly unregulated, and anything has gambling attached. No one seems to be calling it out while millions lose their homes, jobs, families over this addiction. You can drive by the betting places in the morning and there'll be tons of people there 8am waiting to lose money on anything they can. In an already impoverished nation, it worsens this. While in Australia I remember they had to step in to regulate 'pokies' cause typcially the elderly would sit there all day and feed money into the machine and lose everything. It's very dangerous and imo is just as bad or worse than alcohol or drug addiction. The only difference is because the addiction isn't visible or has outward signs (like the smell of alcohol, red eyes of weed or general changes in behaviour) it can go unnoticed, and people act like it's normal. PS. You got yourself a new subscriber.
As someone who was sucked into gambling by watching my favorite streamer XQC playing stake, it has ruined my mental health even though I haven’t lost a ton of money. Also I’m 16 years old and they allowed me to deposit money no problem and just start gambling. This pandemic needs to stop because young kids can’t really help themselves especially in our fast pace instant dopamine ridden world. Great video!
Her videos have really opened me up to just how tech companies..especially social media platforms use the dopamine high formula to attract users and all in the name of profits for big tech companies.
Glad to know you realized how damaging it was in a relatively short time. Unfortunately people like XQC are pretty much sociopaths that will do anything for money, power and relevance. Just because they aren't running a country or a company doesn't make their behaviour less reprehensible. I would never blame an 16 year old for liking and trusting him though, it is entirely his responsibility the content he creates and the partnerships he makes with companies. I would recommend you to look for some CBT professional if you really feel like your mental heath is ruined, I assure you there are ways to get better!
Actually online gaming is a great way of teaching you money management. But if you are those that have poor sensitivity when it comes to money, then of coz gambling is not for you. But then there is a very high probability you will lose all of your monies anyway
I wanted to add that its been proven these influencers are given house money to play with. That's why they are willing to lose big on camera cuz someone on the company side refills their pot.
A few years back I got my life straight and I went through rehab, halfway house, then transitioned to a sober home. A roommate got me into online gambling. I won a lot of money. Then my addiction really took over and I’ve never been the same since. Now I’m back on drugs and gambling. This is the worst I’ve ever been.
Love the video, the world needs more of this. To go one step deeper: Gambling can be disastrous for businesses too. If those controlling the business or own and control the business get caught in a gambling addiction and use business funds to do so, it can lead to them piling debt upon debt until all crumbles apart. Have, in my current profession as an underwriter for business credit/loans, seen old family businesses go down the drain because of it. Or, highly skilled sole proprietors up to their armpits in debt which was used to gamble with. These are just two examples, what they all share is that they were desperate to get another loan to get by or maybe gamble even more. They would just apply in the hopes of getting another loan even though they knew it was most likely not going to happen. If you can stay away from gambling please do so people, if you are reading this and you are gambling, please, please, do what you can to stop even if things are going fine now.
Great video, public awareness of the destruction gambling can lead to. Educating the population about the despair people go through with this addiction. Control is an illusion, we are chaotic in nature. Some people have discipline, most don’t. Don’t waste your time, thoughts become action thus becoming reality. You will lose more than money. -Son of a gambler.
I absolutely love this video and how much time you put into not only your research but also how you presented it all and provided thoughtful input on all of it. Definitely an underrated video and a topic that needs more awareness!
Sports betting was pretty taboo outside of Nevada until maybe 5 years ago. The sports leagues wanted nothing to do with it. Now it's all the rage now they get their piece of the pie.
I struggled with what was probably a gambling addiction with gacha games in 2018 and earlier. I lost a lot of money (for me at least; I've been unemployed this whole time so I didn't have a lot to spend in the first place). This video speaks to me a lot... Its crazy seeing how normalized these behaviors are becoming as I struggle to not get back into them....
I don't gamble (M 29) but almost all my friends do. Friends that scale from having nothing to being married with multiple kids. I think most people know gambling is addictive but the deeper psychology and affects from it are fascinating and scary
As someone who has gambled on sports consistently over the past fifteen years and consistently wins by generally fading the public because I realized long ago that Vegas is always going to profit off of most outcomes, and, if conventional wisdom held, everybody would just bet on the obvious, I decided to stop gambling recently. The issue with me is that when I win, I don't really appreciate my winnings. I treat the winnings like Monopoly money, and that's when I realize that the adrenaline rush that I get from following my wagers is what actually drives me. Even if I win $10k on a wager, it's just business at usual, and I'm back on FanDuel a few days later betting on the Celtics. If you've gambled long enough, you'll realize that the way most games are officiated aligns too closely with the spread and the betting action to be coincidental.
"the way most games are officiated aligns too closely with the spread and the betting action to be coincidental" could you elaborate a bit more on this please?
I work for an online casino and sportsbook in the US, I was actually very invested into gambling before I worked there but once I saw the Win/Loss statements from our customers I quitted altogether. You. will. never. make it. The only profits I saw were from Fantasy contests and lottery winners which were very scarce and taxes take a bunch of your rewards
"It's abusive and exploitative" True, and unfortunately, many people want to be abused (or have an addiction and can't help it). Side note, I let ads play on your videos, because I appreciate you not cramming trash sponsors down our throats 😂 Keep up the great content!
This is what I can't stand about video media online as so many people have chosen to effectively live in their parent's basement using such platforms as youtube to finance their existence instead of going out and getting real jobs that require effort on their part to actually earn an income.
Just as a note, 1 view = about a fifth of a penny, revenue-wise. So if you do decide to give a $5 donation to a creator? You're paying for a hell of a lot of skipped ads.
As a long time gambler you are the second coming for all of us! Your knowledge and stats about this disease is so accurate! Please more videos about this topic.
Im 18 years old and I’ve gambled for 1 year, i got stuck from winning just 50 dollars first time trying. Im from scandinavia where you g people play online for fun. Now ive lost around 10 thousand dollars. Bizarre i cant stop. Its not debt its money from birthdays and my job.
If regular casinos were heroin, then these online casinos are fentanyl. I remember for the last 4 years I would gamble on my phone at work,home even when I was out I would gamble thousands while hiding in the washroom, pretending I’m on a phone call. The worst disease and how I destroyed my life. Please get help anyone that’s struggling.
The simple truth is that most players will lose most of the time. You're always playing against the odds. But everyone thinks they'll be that special one. The person who can beat the system through their intelligence and superior play. But they won't. The entire gambling industry's advertising is centered around making everyone believe they are the Hero, and will get rich quick while having fun.
@@CatsMeowPaw actually, it's the other way round. Most ppl say that you will lose money but there are very few who will admit they can win consistently. I am actually one of them. Not enough to win as a living but still winning
Great video and great topic. This situation reminds me of the opiate epidemic. All is good at first everyone’s having fun etc etc….just give it time: this is a ticking time bomb
underrated channel. i bet it will have 100k subs in ~10months. I've witnessed several smaller channels like yours blow up massively , one of those being illuminaughti for example
The idea that some people will take out loans to place bets in a casino is upsetting. Gambling is fun if you're responsible, but casinos do it make it difficult to gamble responsibly
@@michaezell4607 A casino can easily turn profits from people losing while also not losing their entire life savings or not taking out loans to lose that money.
Gosh! This whole channel and this video especially is a breath of fresh air. I have been seeing how online gambling and especially betting in Europe and fantasy league BS are destroying lives. Finally someone pubicly said that the emperor is naked! Thank You
Lost a total of $115k in the last 12 months gambling online with slots. Never hit jackpots above $27k. Got up to $88k though in one week and lost it within the next month. At the end of the game it's all fun and games, no one is putting a gun to your head telling you to gamble.
I have a whole research file in my desk at work about gambling in public policy, thank you for your contributions as well as the genuine privilege of looking at you
Its just a game and not real money, is the direction all casinos have taken from the beginning. Its the reason you play with chips and not cash. Psychologically you've already spent the money, so losing some chips doesn't feel as big of a loss.
I worked briefly as a cage cashier at a casino. It was so depressing, the people kept coming back to buy more chips. They were like rats pulling a lever for dopamine.
Thanks for covering this. I noticed gambling getting more normalized even here outside the states and makes me worry for the future. Also just wanted to say I love your format! It feels really well-organized so it’s easy for the arguments and thoughts to stick (unlike other video essays that are more stream-of-consciousness)
That question of how much is won and lost then begs the questions: did the gambling streamers have to put up their own money, and how many burned through whatever they were paid and THEN had to put up the gambling funds? That would explain why they could be free to go wild, but their partners will demand they pay the bills that they owe.
If I became generalissimo tomorrow I'd get rid of this. You should see the EXPLOSION that has taken place here in Canada with online gambling. EVERY AD I SEE IS ONLINE GAMBLING AND SPORTS GAMBLING! We got Wayne Gretzky and other sports icons that kids look up to shilling this stuff on tv. One thing that's really telling is a lot of online ads that used to be for porn and MILFs in your area are now online gambling ads... I'm someone who's really wary about alcohol, and I think it's a lot more dangerous than people realize but even I can go out with friends and have a couple beers, and I don't think it's a problem for everyone. I see no value whatsoever in gambling.
Sports Betting has completely ruined Football for me. Cant even hold a regular conversation about Sundays games anymore. Its all about how much you hit for or how much you lost. Its annoying.
A significant gap here is that of personal responsibility. Preventing people from doing what they want, even if it is genuinely in their best interest, is paternalistic and presumptive. People must be held accountable for the choices that they choose to make. An advertisement for gambling is not the same thing as forcing someone to gamble. It is more important to preserve liberty than it is to prevent potential harm.
But advertisments for cigarettes or even meth are illegal, no? So sometimes we all can agree, that some things are just wrong. I'm not saying ban all gambling - but certainly ban it's advertising and glamorization.
@@TotallMax13 They are illegal - but that fact alone does not justify the fact that they are illegal. I personally do not believe that advertising either should be illegal and less controversially, strongly oppose punitive taxation on tobacco and plain pack laws.
@@missmia196 Then one would need to make it illegal to advertise alcohol, for instance, amongst a great many other things that people have enjoyed for times immemorial. It can be argued that a great many things are harmful: Netflix and television, pop music, pulp fiction, blockbuster films.
@@bbking006 I understand that free choice and personal consequences is great and all, especially for those more driven. But all these morally damaging industries usually laser focus on the weakest and most disadvantaged of us, because they're easy to exploit. And there always was, is and will be weak among us, often to no fault of their own. So what do you propose is their place in this libertarian fantasy of yours? Fuck em, and let the exploitation drive them to poverty or even suicide? Is it fair to see them just as a statistic of their own 'personal' failure? Society, or any grouped entity, is only as strong as its weakest link after all. And just turning a blind eye is inhumane, in my opinion.
GREAT video that everyone should watch! I was addicted to gambling for ten years 😢 started from 2008 when it was more casual and I would gamble maybe once a week, to by 2018 it got so bad I would take time DURING WORK to go and gamble. Unfortunately it took personal tragedy and over $10k later for me to snap myself out of it. I consider the gambling addiction one of the biggest lows in my life, and being free of it for 5+ years to be one of my best accomplishments. I could have been in such a better financial situation but gambling has instead made my 20's and 30's hell
Gambling is the most expensive addiction. As someone who works in a casino, I see firsthand the destruction caused by gambling. You might win one day, but you will eventually give it all back with interest.
One thing I hate about gambling is the 21+ age requirement. Heck no, it should be 30+ years old, after you're really settled into the work and have weighed into your responsibilities. I feel that would be a better solution, wouldn't it? At least by that time you can safely say that's on them if they lose it all.
How about we put off voting and smoking too till we're 80, love the government telling me how to live my life. Let's let them into our bedrooms too while we're at it.
Other people being financially irresponsible doesn’t mean you punish others. If you want something like that let people voluntarily give up their free will or ability to choose since government can make life decisions better than you. Don’t force others into your life.
@@IL_Bgentyl Unfortunately, this is the direction that we are going. Governments are going to take this opportunity to restrict the people not only to gamblings but in many things also. Just because people like him cannot think properly.
Never stopped gambling. I'm up by 1900 against the Native Casinos in my state. I think a 1000 dollar gaming tickets being bet all on black will wipe my losses out.
As someone who likes drugs: gambling should be legal, but there should also be checks in place, high taxes for gambling facilities and a subsidized help program for addicts. Making something illegal does not eradicate it from existence. You just hurt normal people. Instead you should build a system that helps people developing dangerous behavioral patterns.
I gambled in fantasy cricket league app and won money like everytime, ($10 max)😂. You can win money just by analysing both team players, so as a data analyst most of the time i win money and sometimes just break even .
Thanks beautiful for your video,gambling has destroyed my life and it’s destroying life’s of other people no many people talks about it so thank you again for this video.
Ive been betting sports for almost 20 years now. And while its true that I didnt really make any money it has been a thrilling hobby through out my life. Outlawing gambling wont help, it will just go underground. We need more education, we need to teach people how to bet without burrying themselves in debt. When done right, sports betting can be quite an enjoyable past time.
I think the best part of the story of the lady was that it shows that it doesn't just get those at their lowest, but even those we consider successful.
In a weird sorta way, I'm happy I was a gambler when I was 12 and not now. That way I sorta only had access to like skin casinos, since most actual online casinos required I'd of some sort, I woulda had more to lose, and it wasn't the same sort of gambling as we have now. Where my fave thing was jackpot, and I was only ever able to participate with my few measly bucks since I would snipe low pots but in actual casinos unless they have max amounts u likely can't do that.
I am passionate about teaching financial literacy for reasons like this. I hate how the dominate and most appealing things to the masses are things like gambling, crypto, and other get rich quick schemes.
I feel like addiction to gambling ruined my life. I probably lost $200,000 in my lifetime and now I’m 40 and have nothing. I started my channel on addiction and it’s really helping. I’m at 170 subscribers! Hahah. So glad I’m free from addiction now
Back in the day (2015-17) I gambled a ton on csgo skins. I didn’t have a job so I put the skins I saved up for in a pot and won some bigger skins and kept going. I’ll never forget the big wins. Lost pretty much everything except my Steam account has about a hundred games that i bought using skin money. I think I got my casino problem out of control but I still have to sports bet in order to enjoy watching. It sucks and I can’t escape it.
🤣 when you said boomer in a young person's body and then described what Twitch was made me feel the same because although I'm a Millennial I have never been on Twitch 😭. I'd heard of it but never got curious to go look tbh. I have never been interested in video games, fantasy stuff (e.g. Harry Potter, The Hobbit, etc.), superhero movies or really anything like that so I never felt too connected to my generation. I was always a lot more into poker, sports gambling, music and finance. I even work on Wall Street. But as a result, most of my friends are older and so we just never really cared to learn about this stuff and I didn't even have a smartphone until I was 25 nor regular internet access until I was 26 so it was something that just really passed me by. I'm in my early 30's now and feel 'caught up' technologically speaking, but somehow always fall out of the loop of 'the next thing'... I always find out at work from some young intern or a friend's kids or something 🤣
What bothers me is how financial responsibilities tend to be overlooked, beyond whether someone legally has access to the money. Like people think that if somebody blows $70 k of their own money on gambling, that's on them, but often they have a family who's relying on them
I absolutely love to sports gamble however you must have control and learn enough is enough. Only loose what you can afford to lose. Never ever ever! Chase your losses. You will loose it all.
im italian and i got a roommate that is huge into sports betting. he legitimately lost 25% of his scolarship (which is about 2k afaik) to gambling. when i tell him its really concerning he hits me with the "i can stop whenever i want". my roommate isnt stupid, hes into med school, and yet hes an addict at the age of 22
I love the beginning when you liken personal finances to gambling. It's almost all circumstantial and is highly contingent on your bankroll at birth. Very good comparison! Kind of saying the quiet part out loud and taking a shot at your own content though?
I fell into the black hole of sports gambling but I actually made 500$ before quitting. I always made small deposits and I’m not the type of person to take a huge risk but the scary part was that I would sit there at work/home/wherever constantly checking for new prop odds and scanning stats to see who would be a good matchup. I literally couldn’t put my phone down and stop checking on my bets during games and such. Luckily I’m pretty self aware and knew I had to stop, but it is sad because I know many friends who are super addicted but think it’s just a fun game to play yet they revolve their lives around the betting. I wouldn’t be mad if eventually they shut down all online gambling, it’s just a toxic at its core.
But you managed to make money after all. And that's the thing. Knowing when to stop is also a skill because when you are on a losing streak, there may be other factors that caused you to be on that losing streak such as match fixing etc.
To be fair, the reason gamblers have the highest suicide rate among addicts might be that substance addictions often lead to health complications and overdose, so the sufferers don't live long enough to commit suicide
They have a big mouth towards tobacco companies, accusing them of marketing to the youth. But what are they (alcohol, gambling) doing? They are using identical tactics that are outlawed for tobacco-companies, but they still do. Using athlethes/celebrities to advertise their products, using nice colors on their merch etc.
Some people are betting on sports they don't even understand, let alone have the ability to analyze, they're just throwing some cash on it and hoping the bet lands because they're chasing that high that comes from winning. It's pernicious.
Ive lost hundreds of thousands of dollars in the last 8 years. If you gamble, the worst thing you can do is 1. Continue playing when you have a win and 2. Chase your losses after losing what you can afford to lose. If you gamble online, you MUST set daily and weekly loss limits. Ideally you wouldnt gamble at all but this advice is for those who are gonna gamble anyway.
They should have a state where they legalize all types of gambling and collect taxes only from gambling and offer gambling addiction consultations two gambling addicts as a social experiment
