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America's Young Men Are Blowing Their Money Like Never Before
The Lede
"If you want to gamble in America these days, you have more ways to put your money on the line than ever," writes Business Insider's Emily Stewart. For a variety of companies, from sportsbooks to investing apps, an increased willingness to make some kind of gamble means business is booming. The boys-who-like-to-bet bank is open, and companies are making as many withdrawals as they can.
Key Details
- A 2023 survey from the NCAA found that sports gambling was prevalent among young adults, specifically on college campuses and among Black and Latino respondents.
- The precise reason for this behavior is hard to pin down, said Timothy Fong, a clinical professor of psychiatry at UCLA.
- Along with the rise of new customers, problem-gambling behavior is increasing, especially among young men.