Jason Kelce says he lost 'all my money' in New Orleans at Super Bowl LIX — at one point it was a 'bigger bloodbath' than the Chiefs' blowout loss. Here's what happened and what you can learn

Why people lose money gambling

According to Statistics Canada, nearly two-thirds of Canadians aged 15 or older reported gambling in 2022, and 1.6% of them were at a moderate-to-severe risk of problems related to gambling.

And with at least some form of legalized gambling — including province-run lotteries — available in every province and territory, it's easy enough for Canadians to get access and potentially fall victim to it.

The problem is that gambling can lead to serious financial losses. Even one-off gambling events can have serious consequences, such as what happened to Jason.

Part of the trap he fell into may have been due to a cognitive bias known as the availability heuristic, which has people making decisions based on information that's easily available or top of mind as opposed to data or hard facts.

Jason indicated he went on a winning streak at the previous year's Super Bowl. He relied on a previously positive outcome to guide his decision-making at this year's event instead of looking at the facts, which dictate that over time, you’re more likely to lose money at a casino rather than win.

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Ways avoid losing money gambling

Jason isn't the only celebrity to lose a large amount of money gambling. Actor Charlie Sheen had a well-publicized gambling problem, and hip-hop artist Drake has been known to bet hundreds of thousands of dollars on sporting events

One of the problems with gambling is that it can start as a social activity and turn dark quickly. It can be hard to say no when friends invite you to a casino to celebrate a birthday or bachelor party.

To that end, one thing you may want to do is only bring cash with you to a casino. Decide how much money you can lose without it being painful, and bring that exact amount with you only. Leave your credit and debit cards at home to avoid the temptation to gamble more or "win back" your losses.

Another option, of course, is to just say no to gambling altogether if it's something you're not comfortable doing. It's okay to opt out of social situations that aren't within your comfort zone.

It's also important to recognize when you or someone you love has a problem with gambling. Even a "mild" problem could upend your finances.

As a starting point, if you feel an intervention is needed, you can call the toll free help number in your province to get connected with help. You can also look into local counseling centers that focus on gambling addictions.

Sources

1. YouTube: Jason reveals the sketchy place he loved on his food tour and how much he lost in New Orleans by New Heights (Feb 17, 2025)

2. Statistics Canada: Who gambles and who experiences gambling problems in Canada (Aug 9, 2022)

3. Responsible Gambling: Find Gambling Help for Canadians