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Everybody Loses: The Tumultuous Rise of American Sports Gambling
This jaw-dropping book pulls back the curtain on the alluring yet perilous world of American sports gambling. Built around explosive interviews with the power players of the betting boom at FanDuel, DraftKings, and beyond, it reveals the troubling methods that are being used to bleed gamblers dry.
Everybody Loses is the first major investigation into America’s sports gambling industry. Journalist Danny Funt has obtained wild stories and stunning admissions from the people trying to transform our nation of sports fans into a nation of sports gamblers,
• Former sportsbook executives who cop to misleading customers, with one admitting they’re “selling that you can win, but you can’t.”
• VIP “hosts” at the gambling companies who divulge the extravagant perks they offer their biggest losers to keep them hooked.
• Insiders who recall secret meetings where NBA, NFL, NHL, and MLB executives learned how much money their leagues stood to make if they abandoned their opposition to gambling.
• Lobbyists who detail how they converted skeptical politicians into gambling industry cheerleaders.
This riveting narrative will captivate sports fans, concerned parents, and anyone intrigued by the intersection of money and morals. Everybody Loses is the crucial book for understanding why sports gambling is suddenly everywhere—and why the odds are so great that the problems it’s creating will soon spiral out of control.
Everybody Loses is the first major investigation into America’s sports gambling industry. Journalist Danny Funt has obtained wild stories and stunning admissions from the people trying to transform our nation of sports fans into a nation of sports gamblers,
• Former sportsbook executives who cop to misleading customers, with one admitting they’re “selling that you can win, but you can’t.”
• VIP “hosts” at the gambling companies who divulge the extravagant perks they offer their biggest losers to keep them hooked.
• Insiders who recall secret meetings where NBA, NFL, NHL, and MLB executives learned how much money their leagues stood to make if they abandoned their opposition to gambling.
• Lobbyists who detail how they converted skeptical politicians into gambling industry cheerleaders.
This riveting narrative will captivate sports fans, concerned parents, and anyone intrigued by the intersection of money and morals. Everybody Loses is the crucial book for understanding why sports gambling is suddenly everywhere—and why the odds are so great that the problems it’s creating will soon spiral out of control.
320 pages, Kindle Edition
Published January 20, 2026
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January 30, 2026
Who would have thought that legalizing gambling would lead to problems! Oh, a lot of people did? Well then.
Danny Funt went ahead and wrote a book about all of these problems in his revelatory Everybody Loses. As you may have guessed from the title, it does not take a positive look at gambling. However, don't mistake this as a polemic about the evils of everyone who is a part of it. First of all, Funt himself admits to putting down a few dollars here and there. Second, this is not about shouting down gamblers. This is about raising awareness of the entire gambling system and some troubling conflicts of interest within.
There are some truly eye-opening sections of the narrative. I never considered how difficult it must be to be a college athlete who might go to class the day after a bad game to face people who lost big money on him or her. Or how reporters and talking heads may be giving you betting advice while they are literally paid by sportsbooks who make money when you lose.
I've read quite a few books where a journalist makes the jump to a full-length book and it feels like a bunch of articles stitched together with fluff. This is not one of those books. Funt keeps the easy prose of a journalist, but he then builds a monument to the troubles of gambling. He never loses sight of the people with the most to lose in this - the gamblers and the people around them who may be part of the fallout. This is a must-read for everyone, even non-sports fans.
(This book was provided as a review copy by Gallery Books.)
Danny Funt went ahead and wrote a book about all of these problems in his revelatory Everybody Loses. As you may have guessed from the title, it does not take a positive look at gambling. However, don't mistake this as a polemic about the evils of everyone who is a part of it. First of all, Funt himself admits to putting down a few dollars here and there. Second, this is not about shouting down gamblers. This is about raising awareness of the entire gambling system and some troubling conflicts of interest within.
There are some truly eye-opening sections of the narrative. I never considered how difficult it must be to be a college athlete who might go to class the day after a bad game to face people who lost big money on him or her. Or how reporters and talking heads may be giving you betting advice while they are literally paid by sportsbooks who make money when you lose.
I've read quite a few books where a journalist makes the jump to a full-length book and it feels like a bunch of articles stitched together with fluff. This is not one of those books. Funt keeps the easy prose of a journalist, but he then builds a monument to the troubles of gambling. He never loses sight of the people with the most to lose in this - the gamblers and the people around them who may be part of the fallout. This is a must-read for everyone, even non-sports fans.
(This book was provided as a review copy by Gallery Books.)
August 31, 2026
This book provides a history of sports gambling and reviews the many years through which it was the general consensus that it should not be allowed because it would threaten the integrity of the game. It’s true that illegal betting took place, but that required connections and knowledge and remained largely hidden from the public.
The 2018 Supreme Court decision legalizing sports betting brought a dramatic change in direction. Major sports leagues (NFL, NBA, MLB, NHL) shifted from opposing gambling to embracing it after discovering the massive profit potential in television and media partnerships. Most States saw it as a way to fill gaps in their budgets so they rushed to legalized sports gambling with little or no concern for the harm it might cause. Now suddenly anyone with a smartphone and credit card could gamble at any time..
This book explores the business model followed by platforms such as FanDuel and DraftKings. Customers who consistently lose large volumes of money are treated as VIPs and are recipients of free gifts. “Sharps” who show signs of consistently winning are quickly limited to the size and number of bets they can place. In other words, you’re allowed to lose big but not win big.
The book provided examples of the harm caused by sports gambling that varied from victims losing their life's savings to athletes receiving death threats for causing a gambler’s loss. The book suggests that it has impacted society much like a new recreational drug hitting the market. As was the case for tobacco and opioids, after the harm becomes more apparent with time the remedial measures will need to be taken, probably in area in restricted advertising.
The following excerpt regarding an interview with Joshua Grubbs, a psychologist from the University of New Mexico, provides an interesting prediction of where things are headed.
The 2018 Supreme Court decision legalizing sports betting brought a dramatic change in direction. Major sports leagues (NFL, NBA, MLB, NHL) shifted from opposing gambling to embracing it after discovering the massive profit potential in television and media partnerships. Most States saw it as a way to fill gaps in their budgets so they rushed to legalized sports gambling with little or no concern for the harm it might cause. Now suddenly anyone with a smartphone and credit card could gamble at any time..
This book explores the business model followed by platforms such as FanDuel and DraftKings. Customers who consistently lose large volumes of money are treated as VIPs and are recipients of free gifts. “Sharps” who show signs of consistently winning are quickly limited to the size and number of bets they can place. In other words, you’re allowed to lose big but not win big.
The book provided examples of the harm caused by sports gambling that varied from victims losing their life's savings to athletes receiving death threats for causing a gambler’s loss. The book suggests that it has impacted society much like a new recreational drug hitting the market. As was the case for tobacco and opioids, after the harm becomes more apparent with time the remedial measures will need to be taken, probably in area in restricted advertising.
The following excerpt regarding an interview with Joshua Grubbs, a psychologist from the University of New Mexico, provides an interesting prediction of where things are headed.
Grubbs thinks that the sports betting companies will only start changing when PR considerations and public backlash leave them no choice. He predicts that one of three potential disasters is likely to be the thing to do it. Either a rash of young sports bettors will commit suicide over a short period of time, a gambler will attempt to murder an athlete who cost them money, or gambling-related corruption will taint a high-profile sporting event. Grubbs hopes it ends up being the last option. At least that one doesn't involve people dying.There was no mention of the new prediction markets such as Polymarket and Kalshi, which I think are not controlled by States because they're prediction platforms, not gambling. The author will have to investigate those markets for his next book.
June 24, 2026
This book doubles as a recent history of the legalization of sports gambling and the app-based revolution led by FanDuel and DraftKings and a muckraking venture, shedding light on the deceptive practices on online bookmakers, the dubious alliances between professional sports and bookmakers, and the wreckage app-enabled sports gambling creates in personal lives.
The book falters a bit on the topic of what exactly should be done about the situation and why. He doesn't justify an ideological opposition to the practice and just try to highlight deception and harm in a utilitarian frame. This lessen the moral force of his argument. Why should a person who is smart enough to never involve themselves in sports betting care about this? Should the people who gamble responsibly have their opportunity to have a fun time be taken away? What are the knock-on consequences of banning sports betting? Should prediction markets still be allowed? Much is left unaddressed.
Funt doesn't advocate for a national ban on the practice, even for mobile sports betting. He opts for a technocratic critique, backing reform that move U.S. policy toward the European regulations which would involved stricter federal oversight and greater consumer protections. Most of these reforms seem unobjectionable given the current facts on the ground. Funt is doing yeoman's work protecting sports gambling consumers, but he would perhaps benefit from a deeper reflection on the details of his moral or ideological opposition to it and think more broadly about the social utility of markets and price discovery.
Relatedly, a couple years ago, I had a conversation with a sometimes sports bettor about whether the activity has an upside and the definite downsides that exist. Does Sports Betting Have an Upside?. After reading this book, I think we have clear evidence that my concerns that the industry relies on addicts and true degenerates to maintain its business and this may have too many externalities to allow it to continue in its current form.
Other Relevant Sports Betting Article:
1) My year as a degenerate gambler - https://www.theatlantic.com/magazine/...
2) Legalizing Sports Gambling Was a Huge Mistake - https://www.theatlantic.com/ideas/arc...
3) The Sports Gambling Disaster - https://ifstudies.org/blog/the-sports...
The book falters a bit on the topic of what exactly should be done about the situation and why. He doesn't justify an ideological opposition to the practice and just try to highlight deception and harm in a utilitarian frame. This lessen the moral force of his argument. Why should a person who is smart enough to never involve themselves in sports betting care about this? Should the people who gamble responsibly have their opportunity to have a fun time be taken away? What are the knock-on consequences of banning sports betting? Should prediction markets still be allowed? Much is left unaddressed.
Funt doesn't advocate for a national ban on the practice, even for mobile sports betting. He opts for a technocratic critique, backing reform that move U.S. policy toward the European regulations which would involved stricter federal oversight and greater consumer protections. Most of these reforms seem unobjectionable given the current facts on the ground. Funt is doing yeoman's work protecting sports gambling consumers, but he would perhaps benefit from a deeper reflection on the details of his moral or ideological opposition to it and think more broadly about the social utility of markets and price discovery.
Relatedly, a couple years ago, I had a conversation with a sometimes sports bettor about whether the activity has an upside and the definite downsides that exist. Does Sports Betting Have an Upside?. After reading this book, I think we have clear evidence that my concerns that the industry relies on addicts and true degenerates to maintain its business and this may have too many externalities to allow it to continue in its current form.
Other Relevant Sports Betting Article:
1) My year as a degenerate gambler - https://www.theatlantic.com/magazine/...
2) Legalizing Sports Gambling Was a Huge Mistake - https://www.theatlantic.com/ideas/arc...
3) The Sports Gambling Disaster - https://ifstudies.org/blog/the-sports...
February 6, 2026
In “Harry Potter and the Deathly Hallows”, the story is told of three brothers who cheated death and were given a super-magical object as a reward. One of the brothers asked for a stone to raise the dead to life, hoping to bring his departed love back. He succeeded, but the lover was a ghastly imitation of her former self. In the end, the brother took his own life, hoping to join his lover in a better world.
This story helps convey the argument Danny Funt makes in his excellent book. Sports betting has become a ubiquitous practice, with fifty percent of U.S. men ages 18-49 owning a sports betting account. Most major sports leagues have partnerships with sports betting companies. It’s a multi-billion dollar industry that’s only growing. It appears to us like a powerful magical object, able to deliver the promise of hundreds of billions of dollars to executives and the chance for the everyday man to win thousands on their apps. But as Funt reports for over 300 pages, sports betting just as ghastly as a living corpse.
Funt meticulously records how the major players in the industry (DraftKings and FanDuel), prey on people with false advertising through payday bonuses, kickback the net losses of players with affiliates who promote their links, and target VIPs with rewards to keep betting. Funt even documents how these companies limit players from winning, or from winning too much. A former PointsBet employee even made this revealing statement: “Your job is to maximize value to the shareholders. It’s not to be a good, moral citizen.” (240)
That’s ultimately the great strength of Funt’s book: the documentation of the moral cost to sports betting. Not only are sports players harassed on a daily basis for breaking a gamblers parlays, they are enticed to fix games for mega-profits. As time goes on, Funt’s research holds up: more and more players and coaches are getting busted for fixing games. This all leads to a damning statistic: close to half of Americans believe sports betting damages the integrity of sports. How can you know whether someone truly won or lost if billions are on the line?
Sports betting is pushed as a way to engage more in sports and to that end, it has had a dramatic effect on the viewership per game. But to what cost? The lover is back to life, but it’s a mere apparition of the form that came before. Sports betting leaves debt, divorce, bankruptcy, abuse, death, and addiction in its wake. When will we wake up to see the cost is too high?
This has special import to Christians who believe God, as the Creator, has given us charge to steward the world to its proper, God-glorifying ends (Gen. 1:28; Ps. 8:6). As a result, God calls us to live in his transcendent moral order (Deut. 6:5; Lev. 19:18; Matt. 22:37–40; Mark 12:29–31; Luke 10:27–28), and this includes living in such a way as to prohibit injustice in our lives and in society (Exod. 20:2–17; Mic. 6:8).
Sports betting is an unjust practice that denies the wisdom of God’s word (Prov. 13:11; 14:23; 28:19-20; Ecc. 5:10; Matt. 25:14–30; Luke 12:15; 1 Cor. 6:12; 2 Thess. 3:10; 1 Tim. 6:9-10, 17-19; Heb. 13:5). It violates our call to be good stewards, virtuous people, and lovers of God and neighbor. It is a practice that promotes and fosters greed, idolatry, and injustice not just in individuals, but in the broader society. Why do it?
Funt wraps up his book by saying this, “I called sports betting legalization a risky gamble, but I’m not sure that’s right: in a bet, the winners get back whatever they risked. Legalization is more like a trade-off: we know that as a result, more people will become addicted and more families will suffer; more people who work in sports will be harassed; more media outlets will be compelled to pull punches; more games will be compromised; more kids will take up gambling. And for what, exactly?” (293)
I couldn’t sum it up any better: for what?
This story helps convey the argument Danny Funt makes in his excellent book. Sports betting has become a ubiquitous practice, with fifty percent of U.S. men ages 18-49 owning a sports betting account. Most major sports leagues have partnerships with sports betting companies. It’s a multi-billion dollar industry that’s only growing. It appears to us like a powerful magical object, able to deliver the promise of hundreds of billions of dollars to executives and the chance for the everyday man to win thousands on their apps. But as Funt reports for over 300 pages, sports betting just as ghastly as a living corpse.
Funt meticulously records how the major players in the industry (DraftKings and FanDuel), prey on people with false advertising through payday bonuses, kickback the net losses of players with affiliates who promote their links, and target VIPs with rewards to keep betting. Funt even documents how these companies limit players from winning, or from winning too much. A former PointsBet employee even made this revealing statement: “Your job is to maximize value to the shareholders. It’s not to be a good, moral citizen.” (240)
That’s ultimately the great strength of Funt’s book: the documentation of the moral cost to sports betting. Not only are sports players harassed on a daily basis for breaking a gamblers parlays, they are enticed to fix games for mega-profits. As time goes on, Funt’s research holds up: more and more players and coaches are getting busted for fixing games. This all leads to a damning statistic: close to half of Americans believe sports betting damages the integrity of sports. How can you know whether someone truly won or lost if billions are on the line?
Sports betting is pushed as a way to engage more in sports and to that end, it has had a dramatic effect on the viewership per game. But to what cost? The lover is back to life, but it’s a mere apparition of the form that came before. Sports betting leaves debt, divorce, bankruptcy, abuse, death, and addiction in its wake. When will we wake up to see the cost is too high?
This has special import to Christians who believe God, as the Creator, has given us charge to steward the world to its proper, God-glorifying ends (Gen. 1:28; Ps. 8:6). As a result, God calls us to live in his transcendent moral order (Deut. 6:5; Lev. 19:18; Matt. 22:37–40; Mark 12:29–31; Luke 10:27–28), and this includes living in such a way as to prohibit injustice in our lives and in society (Exod. 20:2–17; Mic. 6:8).
Sports betting is an unjust practice that denies the wisdom of God’s word (Prov. 13:11; 14:23; 28:19-20; Ecc. 5:10; Matt. 25:14–30; Luke 12:15; 1 Cor. 6:12; 2 Thess. 3:10; 1 Tim. 6:9-10, 17-19; Heb. 13:5). It violates our call to be good stewards, virtuous people, and lovers of God and neighbor. It is a practice that promotes and fosters greed, idolatry, and injustice not just in individuals, but in the broader society. Why do it?
Funt wraps up his book by saying this, “I called sports betting legalization a risky gamble, but I’m not sure that’s right: in a bet, the winners get back whatever they risked. Legalization is more like a trade-off: we know that as a result, more people will become addicted and more families will suffer; more people who work in sports will be harassed; more media outlets will be compelled to pull punches; more games will be compromised; more kids will take up gambling. And for what, exactly?” (293)
I couldn’t sum it up any better: for what?
March 23, 2026
the last chapter genuinely had me feeling sick. a fucking plague to our world!!! it’s fuck kalshi, polymarket, fanduel, draft kings, prize picks, and all other online gambling platforms FOREVER!!!
August 30, 2026
This country is going to hell with eyes wide open.
Took me time to read this because I listened to most of it, kept having to return and wait for it at the library, finally got the print version and finished up the last couple chapters. I am very leery of how sports are changing as a result of legalized gambling. I find it very hard to tolerate ESPN now, as it has turned into one massive sports gambling ad. There is little to trust in the veracity of their reporting anymore. I am going to find watching the NFL this season even less enjoyable. If anyone (friend, acquaintance, or stranger) brings up gambling in my earshot, my tolerance level is zero and they will get my opinion and advice, whether they want it or not. “It’s the most addictive game on the most addictive device. What could go wrong?”
Took me time to read this because I listened to most of it, kept having to return and wait for it at the library, finally got the print version and finished up the last couple chapters. I am very leery of how sports are changing as a result of legalized gambling. I find it very hard to tolerate ESPN now, as it has turned into one massive sports gambling ad. There is little to trust in the veracity of their reporting anymore. I am going to find watching the NFL this season even less enjoyable. If anyone (friend, acquaintance, or stranger) brings up gambling in my earshot, my tolerance level is zero and they will get my opinion and advice, whether they want it or not. “It’s the most addictive game on the most addictive device. What could go wrong?”
August 30, 2026
As any sports fan can tell you, it’s now impossible to watch a game — in person or on television — without being bombarded by ads for betting apps and sportsbooks. Why this explosion happened, who pushed it forward, and how it’s reshaping lives across the country are the central questions of Danny Funt’s excellent, deeply researched book Everybody Loses.
Right from the start, Funt makes clear that this moment didn’t arrive by accident. It came from what he calls “an extraordinarily risky gamble: that a nation of sports fans would be better off as a nation of sports gamblers.” The rest of the book is a meticulous, often unsettling exploration of that gamble’s consequences. Funt weaves together stories of addicted bettors, interviews with current and former sportsbook employees, and a close look at how FanDuel and DraftKings have effectively become a duopoly controlling the vast majority of the industry. Every thread reinforces the central idea: this is a wager with enormous human and societal stakes.
One of the most compelling sections examines how sportsbooks treat their two most valuable customer groups — the consistent losers and the rare big winners. The former are courted relentlessly, especially those who lose heavily and often. The latter, labeled “VIPs,” are showered with perks that border on fantasy fulfillment. If you’re a baseball fan whose team just reached the World Series and you’ve wagered at least $5,000 a week, you might find yourself whisked to the Fall Classic on the company’s dime. But if you start winning too much, the tone shifts quickly: frozen accounts, revoked bonuses, vanished VIP privileges. Funt makes clear that the system is designed so that bettors, no matter how savvy, rarely come out ahead.
Importantly, Funt doesn’t place all the blame on the sportsbooks themselves. He traces how professional leagues — once staunch opponents of gambling — reversed course when they realized how much money was being left on the table and how widespread betting already was. He also details the political and legal forces that accelerated the industry’s rise, most notably the Supreme Court’s 2018 Murphy v. NCAA decision, which opened the door for states to legalize sports betting at a rapid pace.
These examples represent only a fraction of the ground Funt covers. Everybody Loses is comprehensive without ever feeling dense, and accessible without sacrificing nuance. Whether you’re interested in the human toll of gambling addiction, the political machinery behind legalization, or the inner workings of the industry itself, this book delivers an informative, balanced, and highly readable account of how sports gambling became a defining feature of modern American fandom.
An excellent read — and an important one.
https://sportsbookguy.blogspot.com/20...
Right from the start, Funt makes clear that this moment didn’t arrive by accident. It came from what he calls “an extraordinarily risky gamble: that a nation of sports fans would be better off as a nation of sports gamblers.” The rest of the book is a meticulous, often unsettling exploration of that gamble’s consequences. Funt weaves together stories of addicted bettors, interviews with current and former sportsbook employees, and a close look at how FanDuel and DraftKings have effectively become a duopoly controlling the vast majority of the industry. Every thread reinforces the central idea: this is a wager with enormous human and societal stakes.
One of the most compelling sections examines how sportsbooks treat their two most valuable customer groups — the consistent losers and the rare big winners. The former are courted relentlessly, especially those who lose heavily and often. The latter, labeled “VIPs,” are showered with perks that border on fantasy fulfillment. If you’re a baseball fan whose team just reached the World Series and you’ve wagered at least $5,000 a week, you might find yourself whisked to the Fall Classic on the company’s dime. But if you start winning too much, the tone shifts quickly: frozen accounts, revoked bonuses, vanished VIP privileges. Funt makes clear that the system is designed so that bettors, no matter how savvy, rarely come out ahead.
Importantly, Funt doesn’t place all the blame on the sportsbooks themselves. He traces how professional leagues — once staunch opponents of gambling — reversed course when they realized how much money was being left on the table and how widespread betting already was. He also details the political and legal forces that accelerated the industry’s rise, most notably the Supreme Court’s 2018 Murphy v. NCAA decision, which opened the door for states to legalize sports betting at a rapid pace.
These examples represent only a fraction of the ground Funt covers. Everybody Loses is comprehensive without ever feeling dense, and accessible without sacrificing nuance. Whether you’re interested in the human toll of gambling addiction, the political machinery behind legalization, or the inner workings of the industry itself, this book delivers an informative, balanced, and highly readable account of how sports gambling became a defining feature of modern American fandom.
An excellent read — and an important one.
https://sportsbookguy.blogspot.com/20...
March 13, 2026
3.75 - 4.0 stars.
I am not a big gambler & I never bet on sports via my phone. Occasionally I enjoy visiting a casino, but never for the sake of visiting a casino. I usually end up there by attending a sporting event or a concert and when I’m there I will play blackjack with a limited amount of money that I’m willing, but hoping not to lose.
What interested me in this book stems from attending last year’s first round March Madness games. I knew about online sports gambling but never witnessed it first hand until I sat behind a group of millennials during these games. These ‘fans’ weren’t interested in the games at all. Their only interest seemed to be in their bets, especially their in-game prop bets. Nothing like going to a game and watching your phone! I remember commenting that the days of going to a sporting event and simply enjoying the sporting event were gone. I love sports & love to watch sports for the love of sports. Ok … I’m old.
All that said, here are some random notes I made while reading:
• Sports gambling has always been there but now it’s everywhere & it’s legal.
• Sports gambling (and all forms of online gambling) are ‘deliberately engineered to be highly addictive.’ Parallels made to the tobacco industry seem reasonable, especially in targeting young people (teenagers & college students).
• The integrity of the games can and has been compromised … so has the safety of many athletes, with threats being made by losing gamblers.
• The independence of media, especially sports media, can and has been negatively impacted
• Enjoyment of sports without wagering is becoming a rare commodity.
• The system is incredibly rigged in favor of the betting companies. Some of the most popular bets greatly favor the house.
• As with most things these days, this business is all about the money. And not money for those doing the gambling.
• Major leagues (NBA, NFL, MLB, NHL) abandoned their long-standing opposition to gambling once they realized the immense profits involved.
• Sports betting is an antisocial activity … just like all Social Media is (my comment)… and definitely leads to mental health issues.
Finally, after reading the book I looked at the comments that are often on the back of book jackets. There’s one on this book that perfectly expresses my feelings. It is by former MLB manager Joe Maddon …
“This outstanding book is the first to fully illuminate the imminent danger gambling poses to sports. My advice after reading Everybody Loses? Keep your hard-earned money and enjoy the game.”
I am not a big gambler & I never bet on sports via my phone. Occasionally I enjoy visiting a casino, but never for the sake of visiting a casino. I usually end up there by attending a sporting event or a concert and when I’m there I will play blackjack with a limited amount of money that I’m willing, but hoping not to lose.
What interested me in this book stems from attending last year’s first round March Madness games. I knew about online sports gambling but never witnessed it first hand until I sat behind a group of millennials during these games. These ‘fans’ weren’t interested in the games at all. Their only interest seemed to be in their bets, especially their in-game prop bets. Nothing like going to a game and watching your phone! I remember commenting that the days of going to a sporting event and simply enjoying the sporting event were gone. I love sports & love to watch sports for the love of sports. Ok … I’m old.
All that said, here are some random notes I made while reading:
• Sports gambling has always been there but now it’s everywhere & it’s legal.
• Sports gambling (and all forms of online gambling) are ‘deliberately engineered to be highly addictive.’ Parallels made to the tobacco industry seem reasonable, especially in targeting young people (teenagers & college students).
• The integrity of the games can and has been compromised … so has the safety of many athletes, with threats being made by losing gamblers.
• The independence of media, especially sports media, can and has been negatively impacted
• Enjoyment of sports without wagering is becoming a rare commodity.
• The system is incredibly rigged in favor of the betting companies. Some of the most popular bets greatly favor the house.
• As with most things these days, this business is all about the money. And not money for those doing the gambling.
• Major leagues (NBA, NFL, MLB, NHL) abandoned their long-standing opposition to gambling once they realized the immense profits involved.
• Sports betting is an antisocial activity … just like all Social Media is (my comment)… and definitely leads to mental health issues.
Finally, after reading the book I looked at the comments that are often on the back of book jackets. There’s one on this book that perfectly expresses my feelings. It is by former MLB manager Joe Maddon …
“This outstanding book is the first to fully illuminate the imminent danger gambling poses to sports. My advice after reading Everybody Loses? Keep your hard-earned money and enjoy the game.”
This entire review has been hidden because of spoilers.
June 12, 2026
4.5 stars rounded down.
This was an extremely thorough book on the state of the gambling, sorry “gaming”, industry and its expanse into all areas of American sports.
I’ve always had a very Baptist aversion to gambling, but that is more through the lens of an individual vice and waste of God-given resources. This book opened my eyes further to the real wider ranging societal pitfalls that have come and are coming with Draftkings and Fanduel everywhere. It’s a real shame, and also wholly unsurprising, how predatory these companies are.
Now it’s time for me to advocate for the SAFE Bet Act mentioned at the end of the book and cash in on the one bet guaranteed to pay off—growing personally in living virtuously before God through the power of the Spirit and helping others do that too.
This was an extremely thorough book on the state of the gambling, sorry “gaming”, industry and its expanse into all areas of American sports.
I’ve always had a very Baptist aversion to gambling, but that is more through the lens of an individual vice and waste of God-given resources. This book opened my eyes further to the real wider ranging societal pitfalls that have come and are coming with Draftkings and Fanduel everywhere. It’s a real shame, and also wholly unsurprising, how predatory these companies are.
Now it’s time for me to advocate for the SAFE Bet Act mentioned at the end of the book and cash in on the one bet guaranteed to pay off—growing personally in living virtuously before God through the power of the Spirit and helping others do that too.
July 25, 2026
(3.9) this is a good book. Clearly written with an enough mix of anecdotes and studies to leaven one another…and I’m an easy mark for subjects I don’t know much about.
So draftkings and fanduel are huge.
The biggest issue is human volition. Should the govt protect folks from themselves? I used to be far more a libertarian but the legalization of drugs and the realities of IQ have soured me on freedom…or I’m still liberty minded but I don’t think this will end well…Aldous Huxley is winning here…people are anesthetizing themselves with gambling and now gambling isn’t a plane ride away….its a click.
Specifics: parley, touts, how the sites box out potential winners were all new to me.
Govts try to regulate, but they need the tax revenue. Govt shakes down these companies with threats of legislation, while both the govt and the corporations feed off the hapless folks. It’s a mess and everyone’s guilty, but now it’s all so much easier to become embroiled in the gambling bug…
So draftkings and fanduel are huge.
The biggest issue is human volition. Should the govt protect folks from themselves? I used to be far more a libertarian but the legalization of drugs and the realities of IQ have soured me on freedom…or I’m still liberty minded but I don’t think this will end well…Aldous Huxley is winning here…people are anesthetizing themselves with gambling and now gambling isn’t a plane ride away….its a click.
Specifics: parley, touts, how the sites box out potential winners were all new to me.
Govts try to regulate, but they need the tax revenue. Govt shakes down these companies with threats of legislation, while both the govt and the corporations feed off the hapless folks. It’s a mess and everyone’s guilty, but now it’s all so much easier to become embroiled in the gambling bug…
August 29, 2026
Incredible journalism. Mind completely blown.
February 19, 2026
A phenomenal but incredibly alarming read. Talk about a book that makes you want to shower after reading it. Between the evil sociopathic greed of all these sports gambling sites and the sickening outrageous hypocrisy of all the major sports leagues, to say this book left me utterly disgusted wouldn’t do it justice. As angering of a read this was, at the same time it was incredibly educational and informative. It gives an excellent recounting of the current state of sports gambling and how addicting & dangerous it truly is. And because of that, this book is a fantastic resource for anyone who loves sports but has major concerns about the direction they’ve taken as gambling has become legalized in most of the country. DraftKings and FanDuel…talk about dirty rotten bastards. Absolutely stunning how corrupt they are. With all that said, I highly recommend this one!
February 26, 2026
Danny shared his expertise with me for some reporting we did at USAT on youth gambling. I ended up bumping into the same young experts Rose-Berman and Minnick. You should get this book!
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September 8, 2026We live in hell!!!
June 6, 2026
I read this book because I've always loved sports but I was blissfully unaware of the sports gambling epidemic our country is speeding toward. This investigative report on the current (2025 publishing date) state of legalized sports gambling in the US is outstanding yet very sombering. The focus is on legalized sports gambling - now practically nationwide - since the Supreme Court in 2018 ruled individual states could determine their own sports gambling laws. This decision, coupled with the Covid lock down, provided the perfect storm for a huge increase in American gambling. The majority of new gamblers were young men between the ages of 18 and 39. The author presents both sides of the argument beginning with the windfall of tax revenues to local and federal governments but also details the sad statistics of the gambling losers who fully fund this tax revenue. Obviously, a Goodreads review isn't meant to list every fact and stat but here are 2 that give me pause to consider my opinion on legalized sports gambling: 1) government data shows that 10% of men ages 18-29 who have gambled on sports have considered suicide and 2) the State of New Jersey (which is the 2nd most mature state for sports gambling) estimates that 6.5% of men in New Jersey are addicted to sports gambling.
Included are many episodes of sports being threatened by gamblers. The examples stunned me. Here is a synopsis of one incident. In 2024, Purdue played Grambling State in the 1st round of the NCAA Men's Basketball tournament with a point spread of 27.5. A senior walkon practice player for Purdue who had wrecked his knee in practice at the beginning of the season had worked himself back to be on the team by year end. He was put into the game in the last minute and hit a 3-pointer with 3 seconds remaining, which made the final score a 28 point victory by Purdue, thereby covering the spread. The entire Purdue team celebrated their inspirational teammate whose family was present at the game. Afterward, his social media accounts were inundated with vile hatred and personal threats because of the point spread!!! If you are like me and want a primer on the current state of sports gambling in the US, this book is really good.
Included are many episodes of sports being threatened by gamblers. The examples stunned me. Here is a synopsis of one incident. In 2024, Purdue played Grambling State in the 1st round of the NCAA Men's Basketball tournament with a point spread of 27.5. A senior walkon practice player for Purdue who had wrecked his knee in practice at the beginning of the season had worked himself back to be on the team by year end. He was put into the game in the last minute and hit a 3-pointer with 3 seconds remaining, which made the final score a 28 point victory by Purdue, thereby covering the spread. The entire Purdue team celebrated their inspirational teammate whose family was present at the game. Afterward, his social media accounts were inundated with vile hatred and personal threats because of the point spread!!! If you are like me and want a primer on the current state of sports gambling in the US, this book is really good.
June 5, 2026
I’m heartbroken. Sports gambling is simply a silent killer. I remember two summers ago after reading Anxious Generation I had a pit in my stomach because the findings were so dark. That familiar feeling has returned having read Everybody Loses.
America is trading its citizens souls to profit off a highly addictive and incredibly accessible and available product. This is a must parenting book as the vulnerable and the weak are the ones gambling companies target.
This is smoking all over again. One day our kids will ask us, “Dad, sports gambling was legal?!”
I’m honestly sickened by these findings and unfortunately as the author put it, we are in the early innings. One day there could be more gambling parlors than McDonald’s as is the case in the UK where they are 20 years ahead of us with this stuff.
This is bad. Really really bad. I wish I hadn’t read this but I’m very thankful I did.
America is trading its citizens souls to profit off a highly addictive and incredibly accessible and available product. This is a must parenting book as the vulnerable and the weak are the ones gambling companies target.
This is smoking all over again. One day our kids will ask us, “Dad, sports gambling was legal?!”
I’m honestly sickened by these findings and unfortunately as the author put it, we are in the early innings. One day there could be more gambling parlors than McDonald’s as is the case in the UK where they are 20 years ahead of us with this stuff.
This is bad. Really really bad. I wish I hadn’t read this but I’m very thankful I did.
August 16, 2026
This book was a fantastic investigative look into sports gambling and the chaos created since its legalization. As someone that’s had a front row seat to this I thought I knew a lot about it but as revealed in this book that was only the tip of the iceberg. So many great interviews surrounding the negatives of betting. I’ve always been pro betting legalization but after this it’s really hard to maintain that position at least without major changes. I really enjoyed the style of this book and would love to read more investigative type books in the future. Really enjoyed, a must read for any sports fan or gambler.
July 23, 2026
An interesting listen about the ills of gambling, the problem of big money in sports, and how big corporations do not give one f about their clients, only the bottom line and share price. As a sports fan, i have always been gambling-adjacent, and have wondered how the availability and prevalence of gambling currently would have impacted 20 year old me. Overall a little depressing in that things will likely continue to devolve. So tired of gambling ads during games.
March 24, 2026
Ah yes, putting gambling apps on our phones! What could possibly go wrong? Everything? Right.
April 21, 2026
A really important book to bring to light all the problems legalizing sports betting (and other types of online gambling) is causing
February 24, 2026
A very interesting read about the history and potential future of American sports gambling. I found the interviews and studies super interesting and it made for a very compelling read. Hearing people from the industry speak candidly about the industry was super interesting. I think it’s shocking how normalized gambling especially on phones has become, and the harms associated with it. The suicide rate and ease with which gambling addiction can take hold is one of the hardest parts in the book to read. Highly recommend for anyone interested in sports and gambling or the way sports interacts with society.
Related: Michael Lewis’s podcast Against the Rules has a whole season on sports gambling in America which would make an excellent companion/supplement to this.
Related: Michael Lewis’s podcast Against the Rules has a whole season on sports gambling in America which would make an excellent companion/supplement to this.
May 29, 2026
Very well written book with lots of history, interviews, perspectives, and explanations for the pervasive and predatory nature of sports gambling. At every level, the love of money is at the root of the evil that is being caused. Lives are being devastated, and the enjoyment of sports is being ruined. This is a worthwhile read.
September 9, 2026
this book was a genuine pain in the ass to get through because it’s just packed to the brim with information. if you’ve never gambled and are unfamiliar with gambling terminology or how parlays/spreads work like i was, a lot of information in this book is pretty confusing and convoluted. definitely not a gambling basics book and more of an advanced read. it includes lots of insights from experts and reformed gamblers which i liked.
February 7, 2026
Really well written and a fascinating story. I had no idea sportsbook companies were so quick to block/severely limit people who gambled well. The industry is far more scummy than I ever I magined!
January 26, 2026
Finally... a book that admits an expansion of gambling in American sports might cause big trouble. We are on the verge of major scandals in one or many sports because of gambling... players losing big and being compelled to throw games... gamblers threatening players and their families to make prop bets... and on and on. It's all here, especially the hypocrisy of major sports talking about integrity and honesty when they are all greedily taking as much gambling money as possible... and don't forget about the complicity of the media and government in letting all this go on with mostly a shrug of the shoulders and their own sips at the trough. And if this all destroys lives, well, that's not their problem, is it? A wonderful thing to read during all the gambling shows on TV...
January 31, 2026
A well-written, deeply-researched, and illuminating yet disturbing read. Very highly recommended to anyone with an interest in gambling, sports, addiction, and the impact of all of the above on society at large.
January 25, 2026
Fascinating and fast-paced, Everybody Loses is a must-read for anyone who, like me, is wondering how sports betting took over our culture. I thought Funt delivered deep, fair reporting on the industry’s inner workings and the growing impact on society after legalization. So many fascinating interviews with sports players, managers, employees, bookies, gamblers, politicians, lawyers, addicts, activists, family members, industry insiders.. Even if you're not a sports better or major sports fan, the book is relevant to all of us. I couldn’t put it down.
February 23, 2026
The 60 pages on the legalization of American gambling are way too long. I don’t need a history or accounting for why we’re here. It adds nothing to the later sections of the book.
Still, the later sections are quiet excellent. The use of anecdotal devastation that ruins lives and the likelihood that sports books will lean into parlays more and more is compelling.
I think this would be a better read scrapping those weak 60 pages and looking into how states could actually regulate gambling, but I’d recommend this book as a focused chapter read.
Still, the later sections are quiet excellent. The use of anecdotal devastation that ruins lives and the likelihood that sports books will lean into parlays more and more is compelling.
I think this would be a better read scrapping those weak 60 pages and looking into how states could actually regulate gambling, but I’d recommend this book as a focused chapter read.
April 18, 2026
3.5 - I appreciated that this book opened my eyes to the pervasive and exploitative world of sports gambling. It’s awful! But something about the writing I didn’t love. It was also written for people who watch sports more closely than I do.
June 24, 2026
Everybody Loses is a sobering but critically needed look into one of the most rapidly expanding sectors of American entertainment- sports gambling. Danny Funt makes the case that the legalization of sports betting was itself a bad bet, and he provides an impressive amount of information to back it up. Interviews with current and former employees of betting companies, coaches and athletes, bookies and managers, along with significant economic and statistical data, paint a very bleak picture of the state of sports betting in America.
The book starts by walking through the history of sports betting- how it was once considered a stain on the integrity of sports, how one Supreme Court decision opened the door for the states to start legalizing gambling, and how the money that could be made led many of gambling’s most vocal opponents to change their tune. Funt follows this recent history with a close look into how the now-legal industry operates, revealing the myriad opportunities for corruption, exploitation, and rampant vice. Everyone involved in sports betting truly loses in the end- successful gamblers frequently have their winnings voided and their betting accounts limited, losing gamblers (considered VIP’s by the industry) are incentivized to keep losing, sports leagues risk corruption and lose the interest of non-gamblers, and even the biggest betting companies are only barely turning a profit. And that’s only the financial side- the social and moral consequences of widespread betting are just as serious, if not worse.
As an exposé of a corrupt industry and the disastrous consequences of legalizing sports betting, Everybody Loses is excellent. However, though it offers a scathing critique of the modern American sports betting industry, I find it inadequate to deal with the root problems of gambling in the human heart. Funt demonstrates the total inadequacy of the “consent” theory of morality to meaningfully restrain vice. He mentions repeatedly that he doesn’t want to stigmatize gamblers, or to blame them for the consequences of their “addiction.” He refers to gambling as a disorder, a public health crisis, a disease that many gamblers don’t want to have. And yet he can’t help but see the disastrous consequences of letting people pursue gambling without limits- a pursuit that they did choose. Gambling is not a disease that inflicts compulsive behavior on its victims, but the outpouring of the restless, sinful human heart. New legislation might bankrupt DraftKings and FanDuel, but it won’t address the bankruptcy of the sinful human condition.
“Do not store up for yourselves treasures on earth, where moth and rust destroy, and where thieves break in and steal. But store up for yourselves treasures in heaven, where neither moth nor rust destroys, and where thieves do not break in or steal; for where your treasure is, there your heart will be also.” Matthew 6:19-21
The book starts by walking through the history of sports betting- how it was once considered a stain on the integrity of sports, how one Supreme Court decision opened the door for the states to start legalizing gambling, and how the money that could be made led many of gambling’s most vocal opponents to change their tune. Funt follows this recent history with a close look into how the now-legal industry operates, revealing the myriad opportunities for corruption, exploitation, and rampant vice. Everyone involved in sports betting truly loses in the end- successful gamblers frequently have their winnings voided and their betting accounts limited, losing gamblers (considered VIP’s by the industry) are incentivized to keep losing, sports leagues risk corruption and lose the interest of non-gamblers, and even the biggest betting companies are only barely turning a profit. And that’s only the financial side- the social and moral consequences of widespread betting are just as serious, if not worse.
As an exposé of a corrupt industry and the disastrous consequences of legalizing sports betting, Everybody Loses is excellent. However, though it offers a scathing critique of the modern American sports betting industry, I find it inadequate to deal with the root problems of gambling in the human heart. Funt demonstrates the total inadequacy of the “consent” theory of morality to meaningfully restrain vice. He mentions repeatedly that he doesn’t want to stigmatize gamblers, or to blame them for the consequences of their “addiction.” He refers to gambling as a disorder, a public health crisis, a disease that many gamblers don’t want to have. And yet he can’t help but see the disastrous consequences of letting people pursue gambling without limits- a pursuit that they did choose. Gambling is not a disease that inflicts compulsive behavior on its victims, but the outpouring of the restless, sinful human heart. New legislation might bankrupt DraftKings and FanDuel, but it won’t address the bankruptcy of the sinful human condition.
“Do not store up for yourselves treasures on earth, where moth and rust destroy, and where thieves break in and steal. But store up for yourselves treasures in heaven, where neither moth nor rust destroys, and where thieves do not break in or steal; for where your treasure is, there your heart will be also.” Matthew 6:19-21
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