Is FanDuel Addictive?

Like all gambling or betting, using platforms such as FanDuel and DraftKings can be highly addictive for many users.

Problem gamblers account for the majority of sports betting industry revenue, according to a recent study, so online sportsbooks rely on addiction as a business model.

The addictive nature comes from the platform itself, especially when used via an app on a mobile device, and the gambling it facilitates.

Is It Safe to Bet on FanDuel?

For many people, FanDuel is not safe to use. While it’s sanctioned by numerous state governments, it can be a highly addictive platform and severely harm your life.

State lawmakers receive campaign contributions from gambling lobbying groups.

The money you deposit into FanDuel is protected in the sense that the sportsbook must have the funds to fully cover customer deposits. So, if FanDuel somehow went out of business, you could retrieve your account balance.

That’s where the safety of FanDuel ends. The platform is designed for you to lose money in the long run. If you win money in the short term, the platform discourages you from withdrawing your funds into your bank account or other payment processor.

If you bet on niche markets and win more often than you lose, FanDuel will restrict or ban you.

Let’s look at how FanDuel isn’t safe to use for many users.

• Ease of Access: FanDuel, being accessible through computers and mobile apps, allows users to place bets or enter gambling contests anytime and from anywhere, encouraging potentially destructive risk-taking. Problem bettors miss out on many life experiences by constantly looking at their mobile device to place or monitor their bets.

• Instant Gratification: The quick turnaround of betting outcomes, especially in-game wagering, can provide instant gratification, enticing users to play more frequently in search of wins and potentially chase their losses.

• The Illusion of Skill: Because sports betting involves the choice of selecting which bets to make, it can lead individuals to believe that they can consistently predict outcomes and win, potentially encouraging problem gambling. Betting isn’t a skill-based activity.

• Promotions and Bonuses: FanDuel offers promotions, so-called bonuses, and other incentives to keep you hooked. These flashy offers cause problems for many users.

• Social Engagement: Competing against others and the social aspects of betting can make participation more enticing and habitual.

• Chasing Losses: As we alluded to, the desire to recover losses through further betting can lead to a vicious cycle where users bet increasingly larger amounts, a common sign of a gambling addiction. Betting apps like FanDuel send you notifications to continue betting if you haven’t gambled in awhile. The more you lose, the more betting apps will contact you, through email, text messages, or app notifications.

It's important to be aware of these factors and abstain from using betting platforms if you have ever experienced difficulty controlling your impulses. Sports betting probably isn’t right for you.

Don’t be tricked by sports betting media that claim you should “monitor your behavior” to prevent a gambling problem. If a sports betting app sounds addictive based on what you’ve read, then it will likely end up being addictive for you.

Keep in mind that sports betting can be harmful for marriages and your heart health.

Why FanDuel’s Promo is a Bad Bet

FanDuel gives gamblers site credit after initially signing up. While it may appear like an enticing offer, it’s not consumer friendly.

The sportsbook gives $150 worth of so-called “bonus bets” if you meet certain conditions. 

First, you must give the sportsbook your personal information, including your social security number, email and physical address, and phone number. You never know if this data could be hacked from the betting site by a malicious third party.

You’re now in FanDuel’s system for life, and you can expect to receive a flow of advertisements encouraging you to gamble for years. If you develop a gambling addiction, you will have to let your state government know that you need FanDuel to stop contacting you.

Second, you must enter your banking or other payment processing information. You must deposit at least $10 into FanDuel to continue in the process of claiming the so-called bonus.

Next, you must place a bet of at least $5, and the bet must win. If you lose, you receive no site credit.

Following a successful first bet, FanDuel will issue the $150 in site credit within three days. Sportsbooks make you wait in hopes that you’re impulsive and deposit more money.

The site credit isn’t actual money. You can use it to place bets, and any winnings derived from those bets will appear in your account. Contrary to popular belief, FanDuel doesn’t give “free money” to users.

Sportsbooks like FanDuel can provide the $150 in site credit because it’s likely you don’t win any money from wagers using the credit. If you do, sportsbooks know that it’s also unlikely you will withdraw the profit before giving it back to the house.

This so-called welcome offer is a very inexpensive way sportsbooks get you to provide personal and banking information to start gambling. Don’t fall for the gimmick.

Photo by Pavlo Gonchar/SOPA Images/LightRocket