“Download this app!” I urged my family, “You’ll get $200 free to bet!” Five years ago sports betting became legal across most of the United States. From 2019 to 2023, sports betting downloads increased from 6 million to 33 million. In 2021 alone, the percentage of Americans who regularly bet on sports more than doubled jumping from 5% to 12%.
By 2024, the sports betting market reached an estimated size of $70 billion generating $13.7 billion in revenue. Analysts predict the industry will continue its skyrocketing growth, projecting it to reach $187 billion by 2030. For comparison, the global movie and entertainment market was estimated at $100 billion in 2023 and is projected to grow to $169 billion by 2030.
At the time sports betting was legalized, I didn’t think much of the decision. When they were offering “free money,” I was more than willing to take it. While I may have netted a few bucks, I have since changed my tune. The data makes it clear that this industry should not be dismissed as harmless fun.
According to a study cited by Investigate TV, sports bettors spend an average of more thatn $3,000 per year. Another study found that for every dollar bet, personal savings dropped by $0.99. A U.S. News & World Report survey revealed that nearly 15% of bettors have used personal loans to fund wagers, while 12% have turned to high-interest payday loans.
Scripture is not silent on this issue either. Proverbs 13:11 cautions, "Wealth gained hastily will dwindle, but whoever gathers little by little will increase it.” Be careful of the get quick rich scheme. Later in the book of Proverbs the faithful man is contrasted with the one consumed by the pursuit of riches: “A faithful man will abound with blessings, but whoever hastens to be rich will not go unpunished” (Prov. 28:20).
The New Testament echoes these warnings. Paul cautions Timothy that, “Those who desire to be rich fall into temptation, into a snare, into many senseless and harmful desires that plunge people into ruin and destruction” (1 Tim. 6:9). Paul continues, adding that, “the love of money is a root of all kinds of evils” (1 Tim. 6:10). The author of Hebrews presses the same truth home,, urging believers to, “Keep your life free from love of money, and be content with what you have” (Heb. 13:5).
I have two friends in my life whose aging parents have lost nearly everything through gambling. Relationships have been fractured, inheritances forfeited, and now their children must shoulder their parents’ financial burden. What once seemed like a game last left lasting scars.
Several years after encouraging family members to “download this app,” I did an about-face. The personal stories of the wreckage of the industry of “harmless fun,” the daunting statistics of hard-earned money getting funneled into the pockets of gambling executives, and the warnings of scripture changed my tune. The betting industry crouches at the door of sports fans, whispering that we can make a few extra bucks on something we love and maybe even make the game a little more exciting. Don’t listen to the lie.
Beware of taking a bite from the enticing apple of sports betting. It promises excitement and easy gain, but often delivers loss, anxiety, and regret. Betting is not just harmless fun.
You may also appreciate:
Oatmeal Cookies Don’t Make You Healhy
Photo by Myron Mott on Unsplash