Sports betting and money: how to work out what it has really cost
If you need to talk to someone tonight: call 1-800-GAMBLER or text 800GAM. Confidential, 24/7, for families too. In a crisis, call or text 988.
Looking at what betting has cost can be hard. It is also one of the most useful things you can do, because it turns a vague worry into a number you can work with. You can do it without blame. You are collecting facts, not passing judgment.
Where the numbers hide
- Bank and card statements: deposits to sportsbooks and casinos, often with odd merchant names.
- Payment apps: transfers to friends who bet for you, or to prepaid cards.
- The apps themselves: most show a transaction history under account or wallet.
- Cash: venue visits and cash advances are easy to forget.
A simple 12-month tally
- Pick a month and list money sent to betting accounts.
- List money received back from them.
- Subtract. The difference is the net for that month.
- Repeat for 12 months and add them up.
If sitting down alone feels too hard, ask someone you trust to sit with you. You do not need to explain every line.
A no-shame way to look at it
The number is information. It is not a verdict on who you are. Many people are surprised by it, and surprise is a common starting point for change.
What money kept means
When you stop sending money to betting, the amount you would have sent is money kept. Some people track it in a notebook, some in an app. Either is fine. Watching it grow is quietly encouraging.
When to talk to a nonprofit credit counselor
If bills are being missed, debts are growing or you are using credit to cover betting, a nonprofit credit counselor can help you build a plan and talk to creditors. They also keep it confidential. If you would rather have someone alongside you, read this.
For emotional support on a heavy day, call or text 1-800-GAMBLER or 988.
Winner's Win is an iPhone app that puts people you trust in charge of the key. Your helpers never need the app.
Questions
Where do I find my betting history?
Bank and card statements, each betting app's transaction history, and payment apps. Start with the last 12 months.
What does money kept mean?
The amount you would have otherwise sent to betting. It is a way to see progress, not a promise.
Who can help with debt?
Nonprofit credit counselors, such as members of the National Foundation for Credit Counseling. Look for a nonprofit and ask how they are funded.