One Bronx native has a warning for football fans who may try to wipe out their gambling debt on Super Bowl Sunday.
Frank began betting as a 10-year-old boy.
Thirty years later with a wife, two kids and a house in the suburbs he was down $100,000 for the 1998 NFL season.
At A Glance: CBS New York offers this excellent cautionary tale about gambling just in time for the Super Bowl. This story tells us about a man name Frank’s problems with gambling and what happened when he tried to wipe out his entire gambling debt by betting on the Super Bowl.
Why It Matters: About five million Americans have a gambling problem, and even casual gamblers try to cash in on the Super Bowl. See below.
The Stats: According to Rehab International:
- 2.5 million adults in the United States are compulsive gamblers.
- 3 million are considered “problem gamblers.”
- 15 million are under the risk of becoming problem gamblers.
- 148 million adults in the U.S. fall into the low risk gambler category.
The Super Bowl: Last year’s Super Bowl garnered $138.4 million in bets, an all-time high. This year the bets are expected to be higher. An un-named bettor has already placed bets totaling $500,000 on the Eagles. Another un-named bettor has placed a multi-million dollar bet on the Eagles. No other details were available about that bet.
Read Frank’s Story: A Cautionary Tale About Sports Betting « CBS New York
“Minnesota Vikings Legacy Ship – U.S. Bank Stadium, Super Bowl LII” by Tony Webster is licensed under CC BY-SA