Nathan Astle, Certified Financial Therapist at Beyond Finance
March has come and gone, and with the NCAA tournament now behind us, the tone has shifted.
Routine office conversations move from confident bracket predictions to what went wrong. Friend group chats fill with second-guessing, missed picks, and “almost had it” moments. Old buddies repeat tales of buzzer-beaters, bracket busters, and Cinderella runs that left them wishing they could rewind their wagers.
For many men, the annual NCAA tournament represents one of the most anticipated sporting moments of the year — a shared ritual rooted in competition, fandom, and community. As a certified financial therapist who meets weekly with hundreds of Beyond Finance clients navigating debt and financial stress, I’ve seen the impact high profile sporting events like March Madness has on men, their relationships, and their finances. Beneath all the excitement of the tournament season is a concerning financial behavior that often goes unexamined — the surge in online sports wagering behind the “Big Dance.”
This year, the scale is simply staggering. The American Gaming Association (AGA) estimates that Americans will legally place about $3.1 billion on the men’s and women’s NCAA tournaments, an almost 15 percent increase over last year. At the same time, an estimated 68 million adults (and roughly 40 percent of Gen Z) are expected to participate in some form of bracket or sports wager. Digital platforms have made sports betting easier than ever too, enabling faster, more spontaneous participation.
The story here is not simply about an increase in online sports betting. It’s about the psychology behind it, and the intersection of men’s identity, their money, and emotional well-being.
The mental health cost of the online sports betting boom
March Madness arrives at a time of the year when many households are already feeling pressure from both ends. Holiday credit card balances are still lingering, and the uncertainty of the upcoming tax season can bring heightened anxiety. Add to that continuing economic uncertainty and rising inflation, and everyday spending decisions become even harder. For men who carry a strong internalized expectation to be financially competent and present an “I’ve got it all together” aura, these mounting pressures feel downright heavy. Combine this with the growing cultural expectations to participate in tournament betting and the immediacy of online wagering on a phone app, and you have what could be described as a “perfect financial storm” of sorts.
The narratives I hear each year are all very familiar: “It started with a bracket pool,” “The experts predicted they’d make the Final Four,” or “I thought I’d win enough to pay some bills and get ahead financially.”
These men aren’t acting without thought. They are dedicated service members, educators, and professionals who are deeply committed to their families and their long-term financial security. But the ease of betting combined with optimism can create a dynamic dopamine-fueled effect where participation quickly grows beyond original intentions.
Beyond Finance has researched these dynamics among men and their relationship with money. Our 2025 study showed nearly 1 in 5 men (19%) have placed a sports bet online in the past year. Of those, nearly three-quarters (74%) have placed an online sports bet in the last week, and 23% said they’ve gambled online in the last 24 hours. 40% of those sports betters believe they’re likely to win a large amount of money, yet only 16% said their financial wellness has improved because of it.
It’s in this gap — between the expectation of winning big and the reality of eventual outcomes — where financial stress begins. And online betting can only add to the underlying financial strain.
Men often struggle in silence
Money is emotional, and men often experience gendered and upbringing-provoked obstacles when it comes to discussing financial stress openly. Our study showed 25% of the men rated their finances as ‘Poor’ or ‘Not Very Good,’ while 10% gave the same rating to their mental health. This parallel between financial hardship and emotional distress suggests that for many men, money isn’t just a numbers issue. It’s a mental health issue.
While they might share these feelings in a blind study, it is decreasingly likely that they would share their frustration, anxiety, or embarrassment with friends or family. And that’s because many men grow up with implicit messages that financial competence equals personal worth. Even though household roles are evolving in America, the internalized expectation to provide or appear financially secure sits deep within us. When our reality doesn’t deliver against that expectation, shame can take hold. And shame, regrettably, thrives in secrecy. That secrecy may show up as hidden purchases, undisclosed debt, or participation in online wagering that isn’t shared openly with a partner. In our survey, 1 in 10 of men in relationships (13%) admitted they’ve kept their sports betting activities a secret from their partner, and a third (33%) said they don’t tell their partner how much they win or lose.
As a financial therapist, this behavior itself is less concerning to me than the isolation it creates because isolation erodes self-esteem. Without conversations or reflecting on the values that drive our relationships with money, small behaviors like quick bets become larger patterns, and too late we realize the negative financial or emotional impact.
The encouragement I give my clients this time of year
Each time a major sporting milestone comes into view, conversations with many of my clients naturally shift toward the event. Rather than discouraging participation altogether, I like to focus on helping men approach the season with awareness and intentionality. Here are four principles I consistently share:
- Break the silence.
Talk to someone you trust, be it a significant other, friend, or accountability partner, to create clarity. Discuss your expectations, comfort levels, and financial boundaries before the first tip-off. Transparency can prevent assumptions and reduce secrecy. - Set your limits in advance — not mid-game.
The heat of the moment during a game is a poor time for financial decision-making. Establish your predetermined spending limits and stick to them. This saves you from in-the-moment choices and maintains alignment with your broader financial goals. - Have fun and don’t expect to solve your financial problems.
Many men quietly hope that a big tournament win will bail them out of financial pressure they’re facing. This expectation only intensifies the disappointment when the team you’ve bet on doesn’t come out on top at the final buzzer. Enjoy the tournament as entertainment — not as a financial growth strategy. - Remember your identity beyond the game outcome.
This message is simple but powerful: you are not your financial wins, losses, paycheck, or debt balance. Self-worth grounded in the values that shape you, your relationships, and your character provides resilience that money outcomes cannot.
After the Final Buzzer
March Madness may be over, but its spirit lingers — a celebration of possibility, unexpected runs, school spirit, and the collective excitement of sharing in the competition. It’s also a moment for us to reflect on how men engage with money, risk-taking, and their emotional well-being. I’ve seen what happens when men move from secrecy to openness, from impulsive patterns to intentional decisions, and from shame to self-care. It’s a winning strategy that doesn’t usually happen overnight, but it is consistently meaningful.
If this year’s tournament sparked conversations about money — with partners, friends, or even yourself — that alone is a winning outcome.
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Nathan Astle, Beyond Finance
Nathan Astle, MFT, is a Certified Financial Therapist
