State U wants YOU…r bets
According to the New York Times, multiple US universities have partnered with on-line sports betting companies and at least a dozen have signed deals with brick-and-mortar casinos.
The National Council on Problem Gambling (NCPG) says researchers estimate about three-quarters of college students gambled in the past year, and 6% have a gambling problem.
In 2018, the Supreme Court overturned a decision that limited sports betting to Nevada — and now 31 states and Washington, D.C. have legalized online or in-person betting, while five more have passed laws that will allow for it in the future.The relaxation in rules has apparently extended over to higher education institutions as well of late — online betting company Caesars Sportsbook struck a whopping $8.4 million dollar deal with Michigan State University last year, reports The New York Times.
And the University of Colorado Boulder reportedly collects $30 every time someone uses the university’s promotional code to download the PointsBet gambling app and starts betting.
Whyte has also said that his organization believes the growth of online gambling, including sports betting, has exacerbated the severity and rate of gambling problems, citing a 45% increase in gambling hotline calls and a 100% increase in text and chat communications in the first year after the Supreme Court decision.
Yahoo News Sorry, the Times is behind a paywall so I had to reference Dave Ramsey’s rant on the subject.
Sports betting apps are trying to become more of a mainstay on college campuses than Jimmy John’s, raising fears that students will be more focused on Michigan +200 than Econ 200.
Apps have made inroads. At least seven schools, including LSU, the University of Maryland, and the University of Colorado, have inked ad deals with sports betting companies, Bloomberg reported. At LSU, the athletic department has even sent emails to students pushing sports wagering (subject line: “$300 in Free Bets Await”).
Yeah, just what young financially dumb kids need: “Well, we raised tuitions sky high. And screwed them with student loan terms only Shylock could love. Isn’t there another anvil we can throw a drowning teenager?” They don’t have PV2s and off-base car lots, so…
Now I know I am old…I remember when going to college meant studies came first and tuitions were affordable.
Most ironically, from the NCAA about this $11,000,000,000 business: “The NCAA opposes all forms of legal and illegal sports wagering on college sports.” Wanna bet?
Category: "Teh Stoopid", America, Schools
In my Younger Dayz, I tried my hand – briefly- at poker and gambling. Wasn’t good at it (i.e., I lost most of the time), so I quit, and haven’t been tempted to go back to it.
Tuition: $12k per year = $48K
Housing: $14k per year = $56k
Expenses: $3.5K per year = $15K
Gambling: $20K per year = $80k
Grand Total = $199K
“Hey Mr./Mrs. Blue Collar worker, wanna help a brother out? Oh, and would like an apple pie with that order? Yeah, my degree in 18th century French Literature is very marketable, but I sure had fun. Like I said before, can you help me pay my student loan?” say the girl with purple hair, eat gauges, and 12 piercings in her face.
Now I never had much sympathy for those whiny college athletes who wanted to get paid for playing sportsball while going to school. I figured that a scholarship was payment enough, but since the schools are now trying to squeeze another revenue stream out of their athletic programs, I may need to rethink my previous stance.
Exploitation of youth athletes by colleges and professional sports organizations has a long and proud history in these United States. The notion that these kids were getting a quality education is one of the best pieces of propaganda I’ve ever seen. Far too many studies indicate that a rather large percentage of these athletes have a degree that’s about as useful as Kamala Harris…
The colleges make tens of millions of dollars off of their D1 sports programs…while offering a few athletes a pittance for their contributions…
I hope these kids at some point realize they hold all the power because without their participation that all goes away, not only for the colleges but the pros…
Pay them properly for their contributions. Plain and simple. Same as any other multi-million dollar business for its employees. Calling them students doesn’t change the reality of the relationship.
It’s similar to a pyramid scheme in the sense that there will be a few – a VERY few – athletes near the top of the pyramid who will go on to lucrative careers in the pros, and the vast majority, lower on the pyramid, will simply end up with damaged bodies and worthless degrees. Meanwhile, the colleges and universities themselves make big, big $$ from TV rights, sponsorship deals, etc.
Having done 7 years working in a Casino, 1 as security and the rest in surveillance, the Casino WINS every time and it was sad at times watching people go down that rabbit hole.
Good people, Bad people and lots of Lonely people chase that Rabbit.
I figured out how to double my money gambling. I fold it up and put it back into my pocket. The House ALWAYS wins. Ask The Possum.
Some days I think we are watching the real time deterioration of our nation into a third world shithole with a largely uneducated populace kept under control with promises of riches from lotteries, gambling, free government shit, and explicit instructions from the media on who to hate next…
Class warfare, race warfare, and now gender warfare…one wonders what new vice the government will approve to keep the concepts of bread and circuses working until the wheels come off.
Brawndo.
It’s got what plants crave!
So when do you suppose the first point shaving scandal will surface?
I mean now we have athletes earning north of six figures, with adding Gambling to the mix, getting kids to cover the spread or not will surely follow!
“what could go wrong, its only a recovering Arsonists convention with free matches given away!?”
The one thing that college sports still tries to claim is that players are not compensated. That is a pretty bold statement as many of the athletes go to school with “free” tuition and are seen driving cars, not in their name all over town to an apartment, also not in their name. Yes I speak for personal experience after having stopped University football players for traffic violations near and away from campus in the 80’s.
The gambling will only start them on the pro circuit while still “attending” classes. Yeah I remember as a student (71 – 75) seeing the football players show up for the first class and never darken the classroom door again the entire semester but pass the course with an A.
It’s long past time we simply stop the pretense and make these kids actual paid employees…the problem there is people don’t like it when their delusions/illusions are revealed publicly…
I’m pretty sure I’ve never collected a 1099-MISC or W-2 G, yet about even over all the times I’ve been to the casino living the rule: Never gamble what you’re not willing to lose and plan to lose it.
That being said, why gamble on sports when the gov incentives ‘gambling’ on the stock market by IRAs and 401(k)s?!?
Short the ever-living F out of leveraged volatility ETFs’ and pick up pennies for nothin’!! (this isn’t advice, I’m not a certified anything, do your own DD and may Jamie Dimon have mercy on your accounts)
The NCAA has been a multimillion dollar “Bubba club” for decades now and I’m not surprised they’re getting greedier.
My college tuition was $110 per quarter. By graduation, it had escalated to $160 per quarter. My student loan debt was $1500, which I paid off the first month after I left active duty.
Maybe someone can explain to me why I just paid over $9,000 for my granddaughter for one semester of tuition to attend a state university. That is only a little less than what I paid to attend law school for four years at a private university during 1975-1979.
This is going to go over like an empty collection plate in church.