By the Responsible Gambling Council
March Madness finals begin this weekend and over a fifth of Ontarians plan to place a wager on one or more of the Big Games. While the main reasons to bet on a major sporting event are to win money and enhance excitement, over half of March Madness bettors report betting more than they can afford to lose.
The results from the Village Media community poll reveal that of those betting:
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31% say they will bet $100 or less
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9% will bet between $100 and $250
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6% will bet between $250 and $500
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54% plan to wager more than $500
According to the Big Games sports betting survey from the Responsible Gambling Council (RGC), more than half of March Madness bettors reported their gambling caused them to experience mental health issues, including feelings of stress or anxiety or concerns they may be experiencing problem gambling. Over half also say gambling has caused financial problems for them or their household in the past year.
Over half of those who will bet on a Big Game will place their bets while also consuming substances, which are associated with the additional risks of impaired judgement and decision-making. The majority plan to consume alcohol but Cannabis use is higher among those betting on March Madness.
Many will bet informally with friends or purchase sports-based lottery tickets, but online gambling is now the most common way Ontarians bet on March Madness. Almost half will bet online with at least one sportsbook website. Most will bet just on the outcome of the game, but about a third will bet multiple times throughout. A fifth will bet using several sportsbook websites.
Most Ontarians use legal sites, but if unsure, the iGamingOntario.ca directory is an easy way to find out. It lists all 84 legal gaming sites currently run by regulated operators in the province. Ensuring that a sports betting platform is legal reduces gambling risk by avoiding fake sites, scams, and other issues.
As well, all regulated sportsbook websites have responsible gambling features. For example, bettors can read about the odds of winning and how games work, use money and time limit-setting tools, self-assessment gambling risk quizzes and personalized spending reports, or customer service support from trained staff.
Gambling responsibly is key to limiting risks and enjoying the Big Games. That includes being mindful of the illusion of control. The misconception that an outcome can be predicted can lead to overconfidence that skill and knowledge of sports give an advantage in winning. Ultimately, even sports expertise won’t beat the odds.
Gambling is random, but a plan to manage risk shouldn’t be. Here are some more tips to keep sports betting safer:
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Pre-set betting limits and stay within your budget
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Limit your cannabis, alcohol, and/or other substance intake
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Don’t bet if you are upset or stressed. Take a cooling off period
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Never chase losses by trying to win back what you’ve lost
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Never borrow money or use money intended for necessities, like rent/mortgage or food
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View sports betting as entertainment, not a way to make money
To learn how to keep play safer visit Gambling is Random. If you or someone you know is struggling with gambling, there is free, confidential help available 24/7 at ConnexOntario.ca.