The rapper known as Lil Baby announced on a recent podcast that he had lost millions on an online casino app and asked his friend, Fanatics Betting & Gaming CEO, Mike Rubin, to write letters to casinos on his behalf to ban him from gambling at those establishments.
Big Problem for Lil Baby
Although the vast majority of sports bettors and casino customers can gamble recreationally and without any deleterious effects on their long-term financial health, there are others whose gambling habits can turn addictive. We recently found out that one of those vulnerable is rapper Lil Baby, who recently announced on Lil Yachty’s A Safe Place podcast that he lost several million in less than two days.
Self Exclusion
“Like one day, probably like 40 hours straight, I lost like $8 million, $9 million. I made myself stop gambling,” he said. “I had Mike Rubin write a letter to every casino and ban me from the casino. I just do s**t. I don’t gamble no more.”
Mike Rubin is the billionaire CEO of Fanatics, one of the nation’s leading sports merchandising apparel merchants, and its gaming arm, Fanatics Betting & Gaming, which has rapidly expanded its footprint throughout the United States.
The 30-year-old called Michael Rubin a “super great influence” on his life. “We have the best conversations ever,” Baby added. “He damn near fascinated with the way I live, and I’m fascinated with the way he lives so we live in the middle.”
Responsible Gaming Is Serious Business
Voluntary self-exclusion lists are standard fare throughout the online and real gaming world. Self-imposed limits can also be added to an account so that recreational pleasure doesn’t become a financial hardship. It is a vital tool that all online gaming companies have established, and the regulatory bodies that govern them set those guardrails in place.
New Jersey’s Division of Gaming Enforcement interim director, Mary Jo Flaherty, said:
“Making the self-exclusion process more accessible is a critical step in our ongoing commitment to responsible gaming. This new online option empowers individuals with a private and efficient way to make decisions about their gaming habits, ensuring they have the resources they need to prioritize their well-being.”
A Changing Demographic
Diana Good, Executive Director of the Connecticut Council on Problem Gambling, said last year: “We used to think the problem gambler was a little old lady at the slot machine. Now, it’s the 20-something male betting on sports. That is the new demographic of the problem gambler.”
The online sports betting and iGaming operators are also serious about responsible gambling initiatives and have invested millions of dollars into those programs and resources. Joe Maloney, the American Gaming Association’s senior vice president of strategic communications, noted the findings of a recent study illustrate the U.S. gaming industry’s commitment to the safety and welfare of its players and to those who are most vulnerable.
“Beyond the considerable taxes gaming companies contribute to fund responsible gaming and problem gambling resources, the industry also proactively invests hundreds of millions of dollars more to ensure our customers have the tools, knowledge, and safeguards to play responsibly,” said Maloney of the findings.
