In 2023, Ohio made one billion dollars in tax revenue off of sports betting, a figure Steven Dennis, Chair of the Department of Finance and Firestone Chair of Corporate Finance at Kent State, expects to increase in 2025. 

He provided insight into the legalization of gambling in the state of Ohio, tracing the origins to Chris Christie’s successful battle to end Nevada’s monopoly on gambling. 

“People realized there was tax revenue to be gained,” Dennis said.

Dennis addressed the issues surrounding gambling, noting that while the majority of people can gamble responsibly, a certain percentage of people are bound to develop an addiction. 

“There is a percentage of people who get addicted to gambling, just like alcohol,” Dennis said.  “Most people can gamble without a problem, but somebody will always get addicted. Gamblers get behind because they’re always trying to catch up, always trying to make-even.”

He urges those struggling to look at the website for responsible gambling, know what they can afford to lose, and go to someone in social services on campus.

Dennis reiterated the importance of understanding the challenges that come with gambling, specifically betting. 

“Understand that this is a 50/50 proposition in terms of the last betting line,” Dennis said. “All the research says that the last betting line before the game starts is a 50/50 proposition — you’re betting into a market that’s 50/50. Unless you know more than the market knows; you should not be in this market.”

He concluded with a warning to those who think they can outsmart the system: “Don’t ever think that you can go into the betting market and beat the market.”

Michael Buzzelli, director of Problem Gambling Services, and Cory Brown, manager of Problem Gambling Services at Ohio Casino discussed their work in gambling prevention. While they don’t provide treatment services, they work closely with the county’s mental health and addiction boards and the behavioral health agencies that provide prevention treatment services for problem gambling and gambling-related harm.

“We do know that across the state, many more young people aged 18–24 are reaching out for services. So, there is an increase in that age demographic; college-aged students calling the Ohio Problem Gambling Hotline,” Buzzelli said.

Problem Gambling has seen an increase in younger people who are not only entering clinical treatment for gambling addiction, but entering peer support and engaging with organizations like Gamblers Anonymous for their gambling-related harms.

“We’ve also seen an increase in that same demographic, that 18–24 range for this specific program, an increase in those who have taken steps to prevent their own access to sports betting and casino-style gambling in the state of Ohio,” Buzzelli said. 

Buzzelli said their program, Timeout Ohio, “allows individuals the option to prevent themselves from accessing those opportunities for a period of one-five years to a lifetime.” 

Brown said they’ve seen a marketed increase in the percentage of young people who are engaging with this program. 

“Generally, 20% of the population is deemed to be at risk or currently experiencing problems, whereas the 18-24 age group is around 24%, so slightly higher than the general population.” 

While experts like Buzzelli and Brown work to alleviate the risks that come with gambling, many college students continue to navigate the world of sports betting. For some, it becomes a financial stressor. As for others, it’s merely a hobby.

Brad Smith, a finance major in his senior year at Kent State, is one of the many college students who are involved in gambling.

“I primarily use FanDuel, all of my friends are using the referrals,” Smith said. “Most of the people I know are using FanDuel and DraftKings.”

Smith broke down his strategies. 

“For me, I’m doing 2-3 leg parlays on MMA. My best was $10 for $300, I think the most I’ve lost is $75,” Smith said. “I’ve also lost $1,000 off the five and ten dollar bets overtime. I take it right out and put it in my bank account. What I see that’s more common is people leaving it in their account because they see it as free spending money. I just take it as a loss, I don’t get emotionally entangled in it for more than an hour.”

Audra Florey is a reporter. Contact her at [email protected].