CEDARVILLE, OHIO, March 04, 2026 (GLOBE NEWSWIRE) -- Americans won’t just be filling out brackets for March Madness this year — they’ll be emptying their wallets.
As the NCAA Men’s Basketball Tournament tips off, industry analysts expect billions of dollars to be wagered in just a few short weeks, making March Madness one of the most heavily bet sporting events in the country. In a nation where legal sports betting has exploded from a $13 billion industry in 2019 to more than $150 billion in wagers in 2025, the question is no longer whether Americans will bet — but how much, and at what cost.
What was once confined to Las Vegas sports books is now available 24/7 on smartphones. Today, 39 states and Washington, D.C., allow legal sports betting. With a few taps, fans can wager on point spreads, player performance, and even the outcome of the next possession.
In Ohio alone, residents have wagered more than $16.6 billion since legalization began in 2023, including nearly $8.9 billion in 2024, according to the Dayton Daily News. The Ohio Casino Control Commission reports the state has collected more than $1 billion in tax revenue during that period.
Now, another development could further normalize the industry. A recent Spectrum 1 News report revealed the NCAA is considering allowing college athletes to legally bet on professional sports — a significant shift from its long-standing ban on athlete wagering. The proposal, introduced in September 2024, is still under review, with a final decision expected later this year.
As the dollars multiply, some experts are urging caution.
Dr. Jared A. Pincin, associate professor of economics at Cedarville University, and Greg Thompson, professor of criminal justice and a retired U.S. Air Force Judge Advocate General officer, say the meteoric rise of sports betting deserves closer scrutiny.
“Everyone has access to a casino in their pocket,” Thompson tells students, pointing to the ease and privacy of mobile betting apps.
While sports betting companies frame their platforms as entertainment, Pincin notes that the industry’s profitability depends on losses. A 2024 Wall Street Journal report cited an internal company review showing that 70% of one gambling firm’s revenue in 2019 and 2020 came from less than 1% of users — a statistic critics say underscores how heavily companies rely on their most frequent bettors.
Betting platforms maintain that they promote responsible gaming. A DraftKings spokesperson recently said the company encourages responsible play and offers deposit limits and timeout options to help users manage activity. Still, Pincin and Thompson argue that sign-up bonuses and “free bet” promotions are designed to build confidence and sustain betting behavior.
“These companies make money only when the gambler loses,” Thompson said. “The reality is that gambling can be deeply addictive. It can bankrupt individuals, strain relationships and derail futures.”
Research suggests younger men are particularly vulnerable. Data from the Siena Research Institute shows roughly 50% of men ages 18 to 49 have active sports betting accounts, with the highest rates of problem betting among men ages 18 to 34. The National Council on Problem Gambling reports that men ages 18 to 24 are nearly three times more likely to develop gambling disorders than older adults.
Pincin points to the design of betting apps themselves. “It’s gamification,” he said. “The look and feel resemble mobile games, blurring the line between entertainment and financial risk — especially for younger users who are already inclined toward higher-risk behavior.”
Both professors are especially concerned about college students.
“My greatest concern is that sports betting might cause students not to be able to continue their education,” Thompson said. “There’s a future impact — and a spiritual impact — that can alter the course of a young person’s life.”
From a Christian perspective, Pincin views gambling as a matter of stewardship. “Scripture calls us to contentment and wise management of resources,” he said. “Sports betting appeals to the desire for quick gain and can distract from trusting God’s provision.”
Cedarville’s Student Life Division has begun incorporating gambling awareness into residence life programming and chapel discussions, encouraging students to think critically and biblically about cultural trends like sports betting. Pincin and Thompson have also addressed students this year about the economic, legal and ethical dimensions of the industry’s rapid growth.
As fans celebrate buzzer-beaters and Cinderella stories this March, billions of dollars will quietly change hands on mobile screens across the country. For Pincin and Thompson, the real story of March Madness may not be about who cuts down the nets — but who ultimately pays the price.
About Cedarville University
Cedarville University, an evangelical Christian institution in southwest Ohio, offers undergraduate and graduate residential and online programs across the arts, sciences and professional fields.
With 7,265 students, it is among Ohio's largest private universities and is ranked among the nation's top five evangelical universities in the Wall Street Journal's 2026 Best Colleges in the U.S.
Cedarville is also known for its vibrant Christian community, challenging academics and high graduation rates. Learn more at cedarville.edu.
Attachments
Mark D. Weinstein Cedarville University 937-766-8800 mweinstein@cedarville.edu
