According to Bob Cabaniss, owner of the Williamsville Wellness treatment center for compulsive gambling in Hanover, Virginia, betting on March Madness games can lead to a very serious gambling addiction.
He says, People gamble during March Madness and get caught up in the excitement of betting and the thrill of winning. They can lose control and it can lead to a gambling compulsion. Its a dangerous time.
Even betting $5 can have an adverse affect on first-time and compulsive gamblers, especially if they win.
Cabaniss explains that the excitement from winning even just a small amount fuels a need to win more, which triggers an addiction.
However, losing a bet causes many to try to get back the money theyve lost, so either way no one wins.
He adds, Compulsive gambling is a complete mental addiction. People can lose a $1 million in a day and not stop.
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