The Invisible Dangers of Sports Betting with Amara Durham Artwork

MONEY WITHOUT MATH

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MONEY WITHOUT MATH

The Invisible Dangers of Sports Betting with Amara Durham

September 30, 2024 • Karen Coyne, CFP®

Sports betting might seem harmless fun, but it can quietly wreak havoc on your wallet and well-being. With apps making it easier to gamble, the risks are rising and are not always obvious.

Karen Coyne sits down with Amara Durham, co-founder of Urgent Care Mental Health, to talk about the hidden dangers of sports betting addiction. Amara shares how gambling can lead to financial ruin and strained relationships and why financial advisors need to help families spot the warning signs.

Don’t think that it can’t happen to you or your family; take a listen and learn to better recognize addiction, set boundaries, and include protective measures in financial planning.

Key Highlights:

The Hidden Risk of Sports Betting: How the normalization of betting through mobile apps and media is making it dangerously accessible, especially for young people
Gambling & Addiction: Understanding the deep connection between gambling addiction and other mental health challenges, like substance abuse and personality disorders
Impact on Different Demographics: How gambling addiction affects people across all income levels and why it can be particularly harmful to wealthy families and young individuals
Financial Advisors’ Role: Why financial planners need to address addiction in conversations about financial and estate planning to help protect clients from its impacts
Practical Advice for Families: Tips on how to set personal boundaries around gambling and start meaningful discussions about the risks involved
Resources for Help: The growing importance of resources like 1-800-GAMBLER and the role of advisors in guiding clients toward the right support systems
And much more!

Resources:

Why We Must Address Addiction in Financial Planning with Amanda Koplin

Connect with Karen Coyne:

Connect with Amara Durham:

About Our Guest:

Amara Durham works with clients of all ages suffering from mental health and substance use issues to develop strategies for assessment, intervention, treatment, aftercare planning, and accountability. Amara combines her experience in the addiction treatment industry with her legal knowledge to guide families, attorneys, trustees, and other professionals through the overwhelming number of resources in the fractured healthcare and insurance industries. She creates bespoke teams of experts including medical and mental health providers, legal counsel, and professionals who best fit her clients’ needs.