Students and economics professor weigh in on gambling culture, discuss potential impacts
By NOAH HARRIS — features@theaggie.org
Following a 2018 Supreme Court ruling that allowed states to legalize sports betting, gambling has arguably had its biggest expansion into society in American history. Currently, sports betting is legal in 39 states, which does not include California. However, daily fantasy games, where people can create a lineup similar to fantasy football but with money at stake, are considered skill-based and are legal in California.
Two third-year UC Davis students, who wished to remain anonymous, and one Davis professor discussed the fluctuating nature of gambling and sports betting.
David Lang, a professor and the department chair of economics at California State University, Sacramento and an occasional adjunct professor in economics and statistics at UC Davis, shared his thoughts on gambling. Lang emphasized that he does not endorse or encourage gambling and is simply discussing his experiences and knowledge of the practice.
“As an economics professor and someone trained in economics, [I] obviously spend a lot of time thinking about things like cost-benefit analysis — the economic returns to various activities,” Lang said. “Keeping in mind that there are some things we do for entertainment that have very little, if any, economic returns at all. And we’re allowed to do those things, too.”
Gambling is widespread among 18- to 22-year-olds on college campuses, with 67% having engaged in sports betting, according to a 2023 National Collegiate Athletics Association (NCAA) study. Lang explained some of the reasons behind this trend.
“Students have a little more disposable income now than they have in years past,” Lang said. “So that’s [one] thing. The other part of it is that sports gambling in particular has done a really good job at being app-friendly.”
Lang proceeded to explain the appeal of contemporary sports gambling among a younger demographic.
“There is no group of human beings on Earth right now that is better and more prone to using apps and using them well and falling in love with that technology than people from the ages of 16 to 25,” Lang said. “Because of that, it’s almost like sports betting has been geared toward what would be the best thing we could possibly do to make this attractive for college-aged students.”
College students are twice as likely to have a gambling addiction than the rest of the population, according to a study by the National Council on Problem Gambling (NCPG). In fact, 6% of college students reportedly have a gambling addiction of some kind. For those struggling with a gambling or alternative type of addiction, UC Davis hosts many recovery resources on the Student Health and Counseling Services website. There is also a governmental helpline available at 1-800-662-HELP (4357).
Official sports bets can be placed at Davis. While those on official UC Davis sports teams are not permitted to gamble on NCAA-sponsored sports, both its football and basketball teams can be found on betting websites.
There are multiple common reasons for why people gamble: One reason is as a form of social interaction, and another reason is that gambling can be considered a fun activity or even a hobby — an anonymous third-year student mentioned the latter as a primary reason for the time he spends betting.
“I kind of think of it like, if I were to go bowling or go golfing, I’m going to spend at least 20 bucks on that,” the student said. “So, if I get three hours of entertainment from watching a game, I’ll spend 20 dollars on that and not be mad if I lose it.”
Gambling, especially with the accessibility of online forums, can cause everyday problems for students, such as missing more classes or having higher amounts of anxiety. Losing money through gambling can lead to a specific type of anxiety, a concept which Lang later discussed.
“Yeah, super dangerous […] — the idea of chasing after losses and trying to get back to even,” Lang said. “It’s a very, very common thing that actually occurs in all forms of gambling and all forms of day trading in the stock market or anything else. And it often winds up getting people in trouble.”
Another anonymous third-year student shared that he has had multiple experiences of trying to break even.
“There [have] definitely been nights where I’ve been down and, like, I’ve felt […] the need to win it back,” the student said. “And there [have] been nights where […] it just goes into a deeper hole. So yeah, it sucks to be in a position like that.”
All three interviewees mentioned that a love of sports was a key motivation behind their entry into gambling.
“I enjoy watching sports,” the first student said. “So I figured I might as well make it more fun, put a little money on it.”
Lang has gambled for several years, and for a long time, he wasn’t very successful.
“What I would say is that for much of the time, if someone wanted to make the most amount of money gambling in sports, what they should do is follow me up to where I’m placing my bet and tell the person, ‘Please give me a hundred-dollar bet on the opposite of what that guy did,’” Lang said.
That dynamic of betting on opposite sides that Lang mentioned is exactly how sports betting companies make money. They collect commissions on losing bets, commonly known in the sports gambling world as “vigorish.”
“They don’t care whether I win or I lose,” Lang said. “What they really want to make sure is that whether I win or I lose, there’s a loser or winner on the other side, and then they make money no matter what.”
The second anonymous student provided a simple response when asked what advice he would give to people gambling for the first time.
“Don’t do it,” the second student said.
When questioned as to why he gave that advice given that he previously mentioned having made an overall profit, the student provided an answer.
“Because they’re not like me,” the second student said. “They don’t understand — I’m one in a million.”
Casinos in America profited 66.5 billion dollars in 2023 — the highest-ever recorded earnings of casinos directly off of their customers.
As discussed by both Davis students and Lang, sports betting can be used as a fun way to engage in sports culture. However, it can cause stress and anxiety in one’s personal life, especially amongst college students. Regardless of whether it is a good thing or not, gambling in many forms has become more popular at UC Davis and across the entire country — and it doesn’t seem to be going anywhere.
Written by: Noah Harris — features@theaggie.org
