These gambling apps are going to be a huge problem. Sure people always gambled but not as easily and addictively as they can now do with their phones.

Anonymous wrote:

Anonymous wrote:3rd boy here. Claims his friend made $75k last year

I made just under $300k on a combination of fantasy sports and traditional gambling last year. Part time hobby. I wouldn’t “recommend” it for a teenager by any means; but I’d think about it the same way as if my kid were really into investing and constantly analyzing equity research or dabbling in quant analysis. That’s pretty unusual though. If the kid is just an action junkie and not treating it like something to be learned gradually, staying within limits, etc., then it’s just spending money on something disposable. Like going to the movies. And should be budgeted accordingly.

PS - It has literally nothing to do with Barstool. Barstool is affiliated with Penn casinos and launched one of dozens of betting apps now legally available. And some of the content producers gamble. That’s it. Every single major sports league has one or more official gambling sponsors now. Broadcasts provide live in-game updates on the lines. ESPN and other networks have a massive amount of programming focused on DFS and gambling. MGM, DraftKings, FanDuel, Caesar’s, etc., all have legal betting platforms, and kiosks in arenas.

I thought "Barstool" was the Instagram handles of various college students doing stupid things. Like "Barstool X Unversity" and the show drunk college students Almost all the major state universities have this instagram (not endorsed by the actual university, of course.) Are these instagram accounts affiliated with the gambling app?

BTW, my son has also moved on to betting on the stock market through Robin Hood, in addition to all the sports gambling. He is in college, gets good grades, and uses his own money that he earns over summers. He is essentially betting on if the stocks will go up or down. And no, he is not a business/finance major.

Worst part - he doesn't think he has a problem.

Anonymous wrote:You know college students have been gambling for decades

Not like this. It’s too easy and there are literally boundless things to bet on. “Prop bets” and live bets. It’s never ending.

Anonymous wrote:3rd boy here. Claims his friend made $75k last year

I made just under $300k on a combination of fantasy sports and traditional gambling last year. Part time hobby. I wouldn’t “recommend” it for a teenager by any means; but I’d think about it the same way as if my kid were really into investing and constantly analyzing equity research or dabbling in quant analysis. That’s pretty unusual though. If the kid is just an action junkie and not treating it like something to be learned gradually, staying within limits, etc., then it’s just spending money on something disposable. Like going to the movies. And should be budgeted accordingly.

PS - It has literally nothing to do with Barstool. Barstool is affiliated with Penn casinos and launched one of dozens of betting apps now legally available. And some of the content producers gamble. That’s it. Every single major sports league has one or more official gambling sponsors now. Broadcasts provide live in-game updates on the lines. ESPN and other networks have a massive amount of programming focused on DFS and gambling. MGM, DraftKings, FanDuel, Caesar’s, etc., all have legal betting platforms, and kiosks in arenas.

Same. Small bets. Make a little money. Blow that. So we aren’t talking thousands of dollars.

But what a waste.

Anonymous wrote:

Anonymous wrote:We just discovered our teen son, who has always been a fan of sports, has been gambling thousands of dollars on these gambling apps. His response to where the money came from, "I'm good at it." And he is in complete denial that it is in any way abnormal or an addiction. Even if you live in a state or commonwealth without online gambling, teens know how to spoof their internet address to make it appear they are in a state or commonwealth which has legal gambling, so they can place online sports and poker bets.

Where did he get the money to gamble with?

His betting history was so long and so extensive, it was like trying to follow a teenager text and Snapchat conversations. I think his initial deposit was perhaps fifty dollars? And there are countless apps to gamble on.

You know college students have been gambling for decades

I think I saw this plot on Beverly Hills 90210 once, back in the day. Well, minus the app part. Granted, there’s still the gambling addiction bit, but presumably this is at least preferable to being harassed by Brandon’s bookie?

But with an otherwise-legal online betting operation, all they have to do is demonstrate your kid lied about their age when they signed up, and they’re off the hook. They know exactly who they’re marketing to, and they know there’s no downside for them.

Anonymous wrote:How do they have access to the funds? Are these kids over 18?

+1

How do they have access to the funds? Are these kids over 18?

Anonymous wrote:We just discovered our teen son, who has always been a fan of sports, has been gambling thousands of dollars on these gambling apps. His response to where the money came from, "I'm good at it." And he is in complete denial that it is in any way abnormal or an addiction. Even if you live in a state or commonwealth without online gambling, teens know how to spoof their internet address to make it appear they are in a state or commonwealth which has legal gambling, so they can place online sports and poker bets.

Where did he get the money to gamble with?

3rd boy here. Claims his friend made $75k last year

Anonymous wrote:We just discovered our teen son, who has always been a fan of sports, has been gambling thousands of dollars on these gambling apps. His response to where the money came from, "I'm good at it." And he is in complete denial that it is in any way abnormal or an addiction. Even if you live in a state or commonwealth without online gambling, teens know how to spoof their internet address to make it appear they are in a state or commonwealth which has legal gambling, so they can place online sports and poker bets.

yep, same here. and same response. We are watching it.

We just discovered our teen son, who has always been a fan of sports, has been gambling thousands of dollars on these gambling apps. His response to where the money came from, "I'm good at it." And he is in complete denial that it is in any way abnormal or an addiction. Even if you live in a state or commonwealth without online gambling, teens know how to spoof their internet address to make it appear they are in a state or commonwealth which has legal gambling, so they can place online sports and poker bets.