“Conversations with current and former gamblers offer a portrait of the standard trajectory of a bettor whose life becomes uprooted by gambling. The story begins with a young male sports fan enticed by a sign-up promotion in a sportsbook advertisement. He probably wins his first bet—as Kyle did—which provides a huge rush of dopamine and an overconfidence that will be almost impossible to shake. Eventually he loses and starts to chase his losses, which over 50 percent of all bettors and over 60 percent of young bettors admit they have done. While chasing, he loses more than he intended. Maybe he stops betting, or maybe he keeps chasing for a few hours or a few days. When the clouds clear, he might be a few hundred or thousand dollars poorer, but he has learned firsthand the dangers of careless betting. Others will have stories more like Kyle’s. They will fall farther down the rabbit hole for longer periods in ways that damage their financial security and mental health. Still others will develop full-blown addictions that will be with them permanently, their lives fully derailed by gambling. If they are lucky, their losses will only be financial.”
Quote by Jonathan D. Cohen
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Losing Big: America's Reckless Bet on Sports Gambling
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