To gamble safely, Mahmood says to never gamble more than you can lose, never chase your losses and don’t bet in secret.
By Carla Rogner
WBNS – 10TV
During March Madness this year, Americans are expected to make $3.1 billion in bets, according to the American Gaming Association.
“I think it is just the one and done sort of thing. Like any team could be done on any given night and you don’t really know who it could be,” said Adam Maibach, a senior at Ohio State.
But not every bet can be a slam dunk, and the hobby can quickly turn into a problem.
Calls for help with gambling addictions are up during March Madness and the weeks that follow, according to Abdullah Mahmood, coordinator of the Gambling Intervention Program at Maryhaven.
“It becomes a problem when it’s no longer fun for that person, you know, sports wagering, betting, gambling, whatever you want to call it, should be for fun and entertainment only,” Mahmood said.
He said gambling should never be looked at as a means to make money.
“You know, a lot of my clients would say it’s investing when they first come in through our doors,” he said. “However, they have made that connection between their problematic behaviors with wagering with betting, and that’s usually in the forms of, you know, I’m preoccupied with the thought of my next bet. I’m betting with increasing amounts of money and then eventually I’m chasing my losses to break even.”
To gamble safely, Mahmood says to never gamble more than you can lose, never chase your losses and don’t bet in secret.
“When you start to kind of hide it from family or friends, when you hide statements, when you hide the bank activity, that’s also a prominent warning sign as well,” he said.
Ohioans who need help with gambling can call the hotline at 1-800-589-9966.