March Madness – the annual spring NCAA basketball tournament season – is upon us, which means that many people across the U.S. are making brackets and betting money on games. However, this month also marks Problem Gambling Awareness Month.
According to the National Council on Problem Gambling, this is a “nationwide grassroots campaign, held annually in March, that seeks to increase public awareness of problem gambling and promote prevention, treatment, and recovery services.” This year’s theme is “Seeking Understanding” and it focuses on increasing awareness of problem gambling as a serious mental health condition.
“By fostering a deeper understanding of the issue, we can encourage empathy, reduce barriers to treatment, and provide support to those affected by gambling-related harm,” said the council.
Per its estimates, 2.5 million U.S. adults, or around 1%, are estimated to meet the criteria for a severe gambling problem in a given year. Another 5 million to 8 million adults have mild to moderate gambling problems. Overall, the NCPG estimates that the annual national social cost of problem gambling is $14 billion.
A recent survey conducted by AP-NORC found that 28% of U.S. adults fill out March Madness brackets some years through informal or formal betting tools. For those under age 45, the percentage ticks up to 30% and around 35% of men participate, compared to 19% of women.
Audacy noted that “placing bets during March Madness can be fun, but it can also be a gateway into more gambling, which could lead to a bigger problem, especially if someone is depending on a win because they are strapped for cash.”
Another survey from the Responsible Gambling Council in Canada found that people there are also planning to spend money betting on March Madness. It also found that “two in five bettors (41%) report having wagered more than they can afford to lose in the past year.”
AP-NORC’s survey found that three in 10 of those in the U.S. who fill out a men’s or a women’s bracket at least some years cite bragging rights or the chance to win money as a major reason for gambling on the tournament. At the same time, Samantha DeFelice – a licensed professional counselor with ThriveWorks in Philadelphia – noted that 58% of Americans are feeling anxiety around finances.
She said it’s “easy for them to get wrapped up in the idea of; ‘One win will turn it around,’ and instead of it being the one win, it’s 10 losses,” when an event such as March Madness rolls around, according to KYW Newsradio.
Those who are struggling with a gambling addiction can contact the Substance Abuse and Mental Health Services Administration confidential, 24/7 hotline at 1-800-662-HELP (4357).