By Timothy Plan for THRIVE! NEWS
The NCAA Division I Basketball Tournament, popularly known as March Madness, is driving more than just hoops excitement—it’s fueling a gambling boom with serious consequences. This year, experts estimate over $3 billion is wagered on bracket outcomes, a trend that’s raising alarms about addiction and financial ruin. Amid this frenzy, Timothy Plan, a family of mutual funds and ETFs rooted in Biblical values, has divested from Robinhood Markets, Inc., citing a new feature that critics say crosses a dangerous line.
Robinhood’s “prediction markets” tool allows users to bet portfolio funds on sports outcomes, blending investing with gambling in a way that’s drawn swift backlash. Massachusetts has launched an investigation, while New Jersey issued a cease-and-desist order. For Timothy Plan, the move was a step too far, landing Robinhood on its gambling filter alongside casinos and racetracks.
“Many think a little sports betting is as American as apple pie,” said Brian Mumbert, vice president of the Timothy Plan. “But when trading apps become indistinguishable from online casinos, it’s time to push back. Robinhood is trying to blur, or more precisely, obliterate, the line between investments and sports betting.”
The feature taps into the explosive growth of online gambling, which has surged since a 2018 Supreme Court ruling legalized sports betting nationwide. A JAMA Internal Medicine study found a 23% spike in gambling addiction-related internet searches since then. In 2023, about one in four U.S. adults participated in March Madness betting, from office pools to online platforms.
