The Goonies Deluxe Rapid Fire Jackpots

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Buffett, who built his fortune buying “wonderful businesses” at fair prices and holding them for the long term, believes the public has mistakenly adopted a get-rich-quick mindset.

“We’ve never had people in a more gambling mood,” Buffett observed.

In his 2022 letter to shareholders, he criticized mobile trading apps that make day trading and speculative positioning effortless, accusing them of turning the stock market into a “gambling parlor.”

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Many sports bettors are unfazed by the high-stakes financial reality of gambling on sports.

U.S. News reported that only 17% conceded sports betting is negatively affecting their financial health. By contrast, twice as many respondents (34%) claimed gambling on professional and college sports has had a positive impact on their finances. About half (49%) reported that sports betting has not impacted their bank accounts either way.

Some respondents, however, shared severe personal consequences.

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“Our position is unequivocal. Betting is an adult activity. Operators must maintain effective age verification, marketing must not target or appeal to children and regulators; parents, schools and communities must reinforce the same message.”

As part of Africa Safer Gambling Week, the AiA has also focused on the illegal market, with Kesitilwe highlighting that offshore operators are harmful for player protection.

For Kesitilwe, tackling the illegal market is not just a regulatory priority but a fundamental player protection issue.