The range of uncomfortable topics parents ought to talk to their children about has just grown a little longer, with Jason Robins, DraftKings CEO, urging adults to also talk to their offspring about gambling addiction.
DraftKings CEO Calls on Parents to Have ‘The Talk’ with Their Kids
In a CNBC interview published on Wednesday, October 28, Robins discussed a range of topics, and notably he spoke about parents’ obligation to help steer children away from gambling-related harm.
A Rutgers study released that same day found that 42.7% of US teens ages 13 to 17 gambled in the past year, with a separate survey by NCPG and Harris Poll suggesting that most parents are already worried that their kids would end up gambling before they hit the legal age.
This makes Robins’ remarks particularly well-timed, as one of America’s leading gambling companies’ bosses is now openly sounding the alarm over how the growth of the industry – as good as it may have been for business – comes with an ever-increasing need to address one of the potential negative consequences.
“Every parent, even if you don’t have a business or don’t live in a world where the kids grow up around it, I think it’s something every parent should have conversations with their kids about,” Robins said, adding that his children were indeed familiar with gambling terminology, but he has made sure that they won’t participate in gambling until they are 21 to bet themselves.
He argued that it was important to talk candidly to children and not try to hide the fact. Robins also took the opportunity to talk about the safeguards that should – and already exist – to protect consumers, such as establishing limits on consumer betting activity and resorting to self-exclusion when necessary.
He likened such tools to wearing seatbelts when driving. However, he noted that there was only a small percentage of the customer base resorting to limits of any sort, a small but meaningful percentage Robins pursued.
ROGA Planning Comprehensive National Self-Exclusion
“Even though it’s a small percentage, there are a lot of people using these products, so even a small percentage can be a meaningful number of people, and that’s why we’ve invested so much,” he added.
In the meantime, the Responsible Online Gaming Association, a group that DraftKings belongs to, is already working on creating a national self-exclusion list that will work across members and thus further strengthen consumer protections.