San Jose Sharks right winger Evander Kane has filed for Chapter 7 Bankruptcy, with a total debt of $26.8 Million. The file states sports bet losses and casino losses as factors.
Evander Kane has 10.2 million in assets; most of it is the value of his three houses. The 29-year-old has made $53 million during his career as a professional hockey player, but through lost sports bets and millions of dollars lost in casinos, he now has more debt than assets. His gambling problems have been made publicly in the past when he was sued by Cosmopolitan for $500K for not paying back losses. The charges were eventually dropped.
Gambling behaviour in athletes has been studied in the field of sociology for many years. In a study by Timothy J. Curry and Robert M. Jiobu in 1995, they noted that motives for sport and gambling are intertwined. Competitiveness, extrinsic awards, and excitement are motives that drive athletes as well as gamblers. Athletes are persistent, dedicated and do not easily give up, traits that do not translate well to gambling and betting.
The recent events with Evander Kane sheds light on the issues of gambling behaviour in professional athletes and will hopefully lead to more understanding of the phenomenon.
Daniel K.
Sport, Not Games ⚽ 