March Madness: Sports Betting Apps Flood College Campuses

Bloomberg Quicktake: Now published this video item, entitled “March Madness: Sports Betting Apps Flood College Campuses” – below is their description.

Piper Hutchinson isn’t opposed to gambling. But the 25-year-old political communications major says she was “really concerned” with the email she received in January from the athletic department at Louisiana State University.

The message, which was also sent to a large number of LSU fans, encouraged recipients to download the Caesars Sportsbook app. The subject line: “$300 in Free Bets Await.” Hutchinson, a senior, says universities shouldn’t be encouraging their students to gamble.

“There needs to be a line between the business aspect of athletics and the academics of a major flagship university,” she said.

As March Madness kicks off this week, that line is getting increasingly blurry on campuses in the roughly 30 states across the country where online sports gambling is now legal. To date, LSU is one of at least seven schools, including University of Maryland, University of Colorado and Michigan State University, that have reached lucrative advertising agreements with betting apps like Caesars Sportsbook and PointsBet.

Under the marketing deals, sports betting apps are paying to have their names mentioned during radio broadcasts, highlighted on schools’ mobile apps and displayed inside arenas and stadiums for fans and TV viewers to see. On a recent night inside LSU’s Pete Maravich Assembly Center, an ad for Caesars Sportsbook flashed alongside the court. On the school’s sports radio network, an announcer provided “your Caesars Sportsbook scoreboard update.” There’s also a new Caesars Sportsbook Skyline Club at the football stadium.

The agreements are helping colleges fill holes in their budgets created by the pandemic and allowing sportsbooks to reach a key demographic of college sports fans—many of whom will place wagers this month during the NCAA’s March Madness tournament. Last year, nearly 50 million people were expected to bet on the college basketball tournament, with the number of people gambling on the games through an online sportsbook tripling compared to 2019, according to the American Gaming Association.

But the advertising deals have raised concerns about promoting betting to college-age students who may be vulnerable to addiction. Several states and universities restrict betting on college games. While the NCAA allows marketing deals between schools and sports betting apps, it still prohibits gambling by college athletes, coaches and administrators.

Bloomberg Quicktake: Now YouTube Channel

Got a comment? Leave your thoughts in the comments section, below. Please note comments are moderated before publication.

About This Source - Bloomberg QuickTake: Now

Bloomberg L.P. is a privately held financial, software, data, and media company headquartered in Midtown Manhattan, New York City.

It was founded by Michael Bloomberg in 1981, with the help of Thomas Secunda, Duncan MacMillan, Charles Zegar, and a 12% ownership investment by Merrill Lynch.

Recent from Bloomberg QuickTake: Now:

Resilient Bitcoin Braves Sizable Headwinds

Will a US Slowdown Mean a Less Hawkish Fed?

Worst Seoul Storm in 80 Years Kills Eight, Floods Capital

In This Story: Colorado

Colorado, a western U.S. state, has a diverse landscape of arid desert, river canyons and snow-covered Rocky Mountains, which are partly protected by Rocky Mountain National Park. Elsewhere, Mesa Verde National Park features Ancestral Puebloan cliff dwellings. Perched a mile above sea level, Denver, Colorado’s capital and largest city, features a vibrant downtown area.

4 Recent Items: Colorado

Wolves pit urban dwellers against ranchers

Teen lifeguard helps couple deliver baby

Teen lifeguard helps couple deliver baby

Balance of Power Full Show (08/02/2022)

In This Story: Louisiana

Louisiana is a southeastern U.S. state on the Gulf of Mexico. Its history as a melting pot of French, African, American and French-Canadian cultures is reflected in its Creole and Cajun cultures. The largest city, New Orleans, is known for its colonial-era French Quarter, raucous Mardi Gras festival, jazz music, Renaissance-style St. Louis Cathedral and wartime exhibits at the huge National WWII Museum.

4 Recent Items: Louisiana

Sen. John Kennedy: Biden is like an old Buick #shorts

How to Make Martha Stewart’s Shrimp Boil | Martha’s Cooking School | Martha Stewart

JayDaYoungan Dead at 24

Chris Fallica and Greg McElroy debate Auburn and Oklahoma’s win totals l Always College Football

Leave a Comment

We don't require your email address, or your name, for anyone to leave a comment. If you do add an email address, you may be notified if there are replies to your comment - we won't use it for any other purpose. Please make respectful comments, which add value, and avoid personal attacks on others. Links are not allowed in comments - 99% of spam comments, attempt to post links. Please describe where people may find additional information - for example "visit the UN website" or "search Google for..." rather than posting a link. Comments failing to adhere to these guidelines will not be published.