The Hidden Danger of Sports Betting: What “Loss Chasing” Does to Your Finances

Sports Betting’s Hidden Dangers: What the Research Reveals

Professor Brad Humphreys of West Virginia University breaks down the explosive growth of legalized sports betting and its hidden dangers. Backed by Arnold Ventures, his research uses a rare dataset of millions of anonymized bets to study “loss chasing” — the risky behavior of placing bigger bets after a loss. This conversation covers why sports betting can’t be beaten long-term, why Gen Z wrongly treats it as investing, and what it all means for your finances.

What You’ll Get From This Video

A clear, data-driven look at the hidden dangers of legalized sports betting. You’ll understand how the industry exploded after the 2018 PASPA ruling, why the average bet carries negative expected value and can’t be beaten long-term, and how “loss chasing” fuels problem gambling. You’ll also see how groundbreaking research using millions of anonymized bets is uncovering the financial risks — giving bettors, families, and financial professionals the insight they need to make smarter decisions.

What You’ll Learn

How the 2018 PASPA ruling transformed sports betting from a Vegas-only activity into a nationwide, phone-based industry

Why sports betting can’t be beaten long-term — and what “negative expected value” really means for your wallet

Why Gen Z mistakenly treats gambling like an investment strategy

What “loss chasing” is and how it signals dangerous problem-gambling behavior

How researchers use millions of anonymized bets to study parlay “near misses” and financial harm

Video Chapters

0:00 Introduction & Welcome

0:53 The Sports Betting Boom & How PASPA Was Overturned

3:52 The Financial Toll of Online Betting

5:32 Why Gen Z Treats Gambling as Investing

6:26 You Can’t Beat the Market: Negative Expected Value

8:10 What Is “Loss Chasing”?

9:59 Inside the Research: Data, Methods & Near-Miss Parlays

17:11 National Implications & Closing Thoughts

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