On May 14, 2018, the U.S. Supreme Court struck down the Professional and Amateur Sports Protection Act, or PASPA, ruling that the law was unconstitutional because it removed power from individual states. The decision allowed states to determine whether sports betting could be legal and to what extent.
The rise of sports betting came with this development, and audiences now see it on their TVs during sporting events, in ads that play before YouTube videos, or even within the videos themselves.
While this expansion is not inherently negative, it has had a significant impact on one group of people in particular: college-aged men. More specifically, 18–22-year-olds are one of the highest volume participants in sports betting and daily fantasy. In fact, a recent NCAA survey found that nearly 60% of college-aged men had participated in some form of sports gambling.
In Wisconsin, legal sports betting is only allowed in person at casinos, but this leads to another potential place for young men to be able to bet their money: daily fantasy apps. Two that get major attention are PrizePicks and Underdog Sports, apps where users spend money on player props for a chance to win. PrizePicks spent $30.5 million on TV advertising in 2023, and while Underdog has not disclosed its budget, it is believed to be similar.
These apps have influenced many young men in different ways. Sometimes the experience is positive: some users win money. However, both companies are valued at more than $1 billion, and there’s a reason for that: the house usually wins.
This was the case for Matt Smith, a 21-year-old avid sports watcher and student. During the 2023 NFL season, he said that he was at his lowest in terms of his gambling problem.
“I was playing daily fantasy every day; Underdog was the main one,” Smith said, reflecting on this period in his life. He said he was introduced to the website through sports YouTubers, and thought it could be fun.
“It was really fun at first, I was winning, I think I got to like +$400 cash earned,” Smith said on his beginner’s luck. However, things changed for him; he said that in the month of November, specifically during Thanksgiving break, he was at his lowest.
“I didn’t really spend time with friends, I just kind of stayed home,” Smith said. During this period, he had lost $600 on three bets. That’s when he realized the financial damage and deleted the app entirely.
Since then, the app has stayed deleted on his phone, and he wouldn’t consider redownloading it again. “I don’t want to be in that mindset again; it was extremely mentally draining,” Smith said.
Smith’s experience is only one example. However, research, including a 2023 study titled “Online Sports Betting in Universities,” shows that frequent sports bettors often experience declines in academic performance and social well-being.
As with any form of gambling, moderation matters. Students can participate responsibly, but it’s crucial to understand the risks and be mindful of how, when, and why they bet or play daily fantasy.