NY Times has latest troubling Gambling Addiction story
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Published:
Oct 17, 2024
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11:18 a.m.
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Jordan Holt’s story in the New York Times about how his life spiraled into an unstoppable cycle of gambling addiction is one that sadly many in the U.S. can relate to today. What started out as an innocent $10 bet transformed into thousands of dollars lost, strained relationships with loved ones and even thoughts of suicide. Holt’s story is a cautionary tale that can act as a sobering reality check of what gambling can do to someone's life if they don’t take action to get help.
A spiral into gambling addiction
Holt’s gambling journey began in his mid-twenties with a casual trip to a casino where he had set a limit of $200 for gambling. He started the night feeling confident in his ability to play responsibly, but as the night progressed he resorted to wire transfers and multiple trips to the ATM. By the end of this one trip to the casino, Holt lost over $2,000. This experience left him shaken and he chose to step away from casinos and gambling for over a decade.
Despite years of abstinence from gambling, it didn’t take long for Holt to succumb to the latest form of easily accessible gambling - online sports betting. Holt’s friends encouraged him to sign up for the sportsbook FanDuel, and he stated that he was overwhelmed with the amount of commercials, ads, billboards, radio talk and social media posts that touted online sports betting and the benefits it could bring.
After about a year of fighting the urge to join, Holt signed up for FanDuel. At first, he and his wife made small wagers for fun and enjoyed the extra excitement it brought to games they enjoyed. Thinking he had found a way to outsmart the odds, Holt would place bets on the “under” of the total points scored in these games. For a while the tactic worked, until it didn't. Holt said it did not occur to him that he was losing due to the nature of gambling, but rather his knowledge about the sport not being comprehensive enough.
Soon Holt’s losses grew and he began taking out loans for increasing amounts to pay off his gambling debts and to have extra money to continue gambling. The losses continued to pile up, and Holt started to become detached and irritable. He even risked losing his home due to mortgage payments being late, as he had spent the money gambling and lost it all. Despite telling his wife about the debt he had incurred and vowing to abstain from gambling and start anew, Holt only lasted 19 days without gambling before the pressure of paying off the loans drove him to gamble yet again.
In 2023, Holt had made a total of $878,529.56 worth of bets. FanDuel provided $7,839 of that in enticements for Holt to continue betting. He made a staggering 4,059 bets that year, which averaged to 11 bets placed per day. In only a little over a year of making bets on FanDuel, Holt lost more than $110,000. To scale the impact of that debt, Holts’ annual salary was $120,000 at the time.
On January 12, 2024, Holt’s wife confronted him about his gambling addiction and the next day he attended his first group meeting. He now attends three meetings per week to manage his gambling addiction. Holt and his wife are working to repair their marriage through counseling and he placed a self-imposed ban on online sports betting and casinos which will last 5 years. At the end of his interview, Holt said that gambling is the dark passenger in his life, that it will always be with him. COurt
(Courtesy: New York Times)
What Holt’s story says about sports betting in America
Holt’s experience illustrates how sports betting in America is not set up to properly protect those who choose to participate. Holt explained that it felt nearly impossible to stop gambling and that he could go a few days without gambling, determined to stop, but would receive texts from FanDuel VIP reps saying that they deposited bonus bets for him to gamble with. This is a common practice with online sportsbooks to entice people to gamble more. These tactics create a harmful cycle of gambling and trying to replace losses with more bets.
Holt was also able to take out an extensive amount of loans. Many of these loans are available to just about anyone, but they come with a high interest rate and can push people further into debt when trying to pay them back. Many have been deemed "predatory," relying on desperation to continuously pour money into their systems to profit and grow.
Holt’s story is all too common in America and is similar to one of Birches Health’s own writers. Read more about Rob’s struggle with gambling addiction.
Gambling addiction treatment ecosystem in the U.S.
Nowadays there are multiple options for gambling addiction treatment available in the United States, but in the past there wasn’t a wide variety of treatment options. In many areas, the only option was Gamblers Anonymous or potentially a local therapist that may or may not have experience treating gambling addiction.
The level of care needed for gambling addiction treatment will depend on an individual's situation and severity of their behaviors. Treatment options can include inpatient therapy, outpatient services, individual therapy, group and family therapy or self-help groups. Virtual therapy has also become another popular option for gambling addiction treatment, as it helps remove barriers to treatment like cost, access to gambling addiction specialists, availability of appointments and travel time.
Birches Health is a virtual treatment option specializing in Gambling Addiction treatment. Birches offers multiple services for individuals who need help with their gambling habits.
Birches Health offers:
Individual therapy sessions
Virtual group therapy sessions
Workshops and webinars
Articles, videos and helpful guides about Gambling Addiction and recovery
Quick self-assessment tests
You can get started with Birches Health through any of the following options:
You can also contact Birches right away by calling 833-483-3838 or emailing hello@bircheshealth.com.
