For Ambus Hunter, what started as a fun trip to Las Vegas when he was 25 soon turned into a gambling addiction. “I got consumed with the vibes,” he said, recalling how he loved the feeling of winning at first. He began gambling back home in the Midwest and on business trips, playing roulette whenever possible. He burned through thousands of dollars of savings before realizing he needed to find a way to stop.
Now fully financially recovered at 37, Hunter works as an accredited financial counselor in Baltimore, helping other people recover their finances that have been damaged by problematic gambling. “I learned a lot about myself and my relationship with money,” he said, lessons he helps others apply to their own lives and budgets.
Gambling is a growing problem among young adults, according to experts, largely because sports betting and other forms of online wagering are so easily accessible. “More and more youth are becoming vulnerable to gambling and problem gambling. It’s a social contagion,” said Dorothy Nuckols, who teaches personal finance for the University of Maryland Extension in Central Maryland.
Here’s how experts suggest parents can help teenagers and young adults avoid the risks of gambling:
Raise the subject
Like sex and drugs, gambling should be on the list of topics to tackle with your children, said Lisa Damour, a clinical psychologist, parenting expert and author of “The Emotional Lives of Teenagers.” While gambling might start out as a fun way to raise the stakes on sports viewing with friends, it can quickly spin out of control, she said. Damour considers gambling to be such a prevalent problem among teenagers that she dedicated an episode of her podcast, “Ask Lisa,” to it.