In this column I unpack the explosive rise of sports gambling in Canada and why it poses a genuine threat to personal finances and social well-being. A recent study found an average of 2.8 gambling references per minute during NHL and NBA broadcasts, up from virtually zero before single-event betting was legalized. One week of games generated more than four thousand gambling messages and millions of targeted ad impressions on X, many of which did not disclose they were ads. The saturation is starting to normalize gambling for young fans, especially men in their twenties, and the research shows that problem gambling behaviours correlate with risky stock trading, reduced investing, falling credit scores and higher bankruptcy rates.

I also reflect on what this shift means for the culture around money. We are nudged away from long-term habits like saving and steady investing and pushed toward dopamine-chasing behaviours that erode financial stability. Leagues and broadcasters may claim they need the revenue, but if they are going to flood the games with betting promotions, they should also acknowledge the collateral damage. In the column I argue for stronger advertising rules, not to stop gambling, but to restore balance. Sports should not be a pipeline into financial harm. If we want a healthier investing culture, we need fewer bets on the ice and more incentives that support patience, discipline and real wealth building.

The rapid rise of sports gambling is dangerous to our financial well-being and our societal health
Problem gambling is linked to behaviours that undermine traditional saving and investing
The Globe and MailPreet Banerjee