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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
183 people are currently reading
1411 people want to read
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Displaying 1 - 30 of 114 reviews
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.)
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!!!
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.
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!
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.
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.
March 11, 2026
As a sports fan who has been, and still is, deeply, deeply annoyed at the explosion of gambling content that has swamped actual sports news and analysis in the last decade, and as a cheapskate who is against losing money, I was predisposed to like and agree with this book. And it’s a likeable, extremely well-written book, good enough to be recommended just on readability alone.
What I wasn’t prepared for was how infuriating it would be; the way the gambling industry has exploded in size, avoided regulation, preyed upon its users, and (I’m sorry about this; writing about gambling suggests all sorts of punny metaphors that I’m simply not a good enough writer to avoid) stacks the deck (sigh; sorry again) in its own favor while blaming those whose lived are ruined for their own problems seems to me to be yet another example of very large industries profiting by causing misery for average people. [I’m sure the reader can think of other relevant examples; if inspiration is required, check the list of the world’s richest people for ideas.]
I also wasn’t prepared for how empathetically riveting many of the stories would be. I am fortunate to live in a state that has still not legalized sports betting, and yet more fortunate that the current explosion didn’t hit until I was middle-aged. But if someone handed eighteen- or twenty-one-year-old me a smartphone filled with gambling apps offering massive dopamine hits and math I couldn’t do in my head well enough to see how huge a disadvantage I was at? I feel certain I could be one of the horror stories.
This book is great, then, for hardening the beliefs I already had. I hope that those on the fence, or even those who feel differently than I do, can be convinced otherwise by this book.
What I wasn’t prepared for was how infuriating it would be; the way the gambling industry has exploded in size, avoided regulation, preyed upon its users, and (I’m sorry about this; writing about gambling suggests all sorts of punny metaphors that I’m simply not a good enough writer to avoid) stacks the deck (sigh; sorry again) in its own favor while blaming those whose lived are ruined for their own problems seems to me to be yet another example of very large industries profiting by causing misery for average people. [I’m sure the reader can think of other relevant examples; if inspiration is required, check the list of the world’s richest people for ideas.]
I also wasn’t prepared for how empathetically riveting many of the stories would be. I am fortunate to live in a state that has still not legalized sports betting, and yet more fortunate that the current explosion didn’t hit until I was middle-aged. But if someone handed eighteen- or twenty-one-year-old me a smartphone filled with gambling apps offering massive dopamine hits and math I couldn’t do in my head well enough to see how huge a disadvantage I was at? I feel certain I could be one of the horror stories.
This book is great, then, for hardening the beliefs I already had. I hope that those on the fence, or even those who feel differently than I do, can be convinced otherwise by this book.
March 12, 2026
A well-composed book that made me realize I’m missing out. I need to start gambling.
But, it’s well-researched, and flows so well, that it really makes a great argument of how insidious the recent explosion of sports gambling plastered everywhere really is and the harm it’s doing. The guardrails have been completely removed, and for the sake of earning a very select few more money, it is creating a sink hole that will probably lead to disaster.
On the other hand, isn’t it fun to maintain the illusion you can win a ton of money on a prop bet, despite all evidence proving that it’s nearly impossible?
But, it’s well-researched, and flows so well, that it really makes a great argument of how insidious the recent explosion of sports gambling plastered everywhere really is and the harm it’s doing. The guardrails have been completely removed, and for the sake of earning a very select few more money, it is creating a sink hole that will probably lead to disaster.
On the other hand, isn’t it fun to maintain the illusion you can win a ton of money on a prop bet, despite all evidence proving that it’s nearly impossible?
April 8, 2026
Best nonfiction book I’ve read in a long time. Filled with detailed historical background, research, and interviews from people within and impacted by the online sports gambling industry and incredibly compelling writing. A huge wake up call for the one of the most destructive addictions of our day, and I was impressed with how clearly he portrayed the destructiveness without just sounding like a crazy person ranting.
I felt uneasy previously about how universally casually young adults today speak about sports gambling, so read this to learn more, but now I can unequivocally say to anyone how evil sports gambling is. Everybody involved loses.
I felt uneasy previously about how universally casually young adults today speak about sports gambling, so read this to learn more, but now I can unequivocally say to anyone how evil sports gambling is. Everybody involved loses.
April 29, 2026
This book is exceptional and a very timely investigative piece at a time where sports gambling is fed to fans (and non-fans) nonstop. Sports gambling truly is eroding the integrity of sports. I don’t think you have to be a sports fan to appreciate this book either, though it is quite dense with sports and gambling jargon. My favorite part of the book is when one of the experts he is interviewing essentially asks “what has gone wrong with a society that so may people have to chase a high through gambling, alcohol, or drug addiction” and I wish that had been explored deeper in an additional chapter, but I’m sure Funt could write an entire book on that.
March 16, 2026
Really enjoyable book about the risks of sports gambling. Of course, there is NOTHING wrong with an occasional bet BUT not realizing the game is rigged against you is the problem.
These gambling sites do EVERYTHING they can to hook you but if you win, they punish you.
As the old saying goes, “the most expensive things are ‘free’”.
If a gamble site/casino gives you a “free” gift, think about that.
These gambling sites do EVERYTHING they can to hook you but if you win, they punish you.
As the old saying goes, “the most expensive things are ‘free’”.
If a gamble site/casino gives you a “free” gift, think about that.
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.
February 25, 2026
Alright Imma be real and say I probably retained about 47% of this book because sportsbetting is not my forte nor my vice of choice (god bless for that), but what I did comprehend....lmao YIKES. To quote Beyonce and Kendrick Lamar: America has a problem. But not my problem, inshallah! FanDuel get thee away from me.
March 25, 2026
fascinating, wild, and worthwhile.
if you're interested enough in this topic to pick up this book, you probably won't be shocked by anything in here, but it's meaningful to see the numbers and mechanics behind the sports betting madness
if you're interested enough in this topic to pick up this book, you probably won't be shocked by anything in here, but it's meaningful to see the numbers and mechanics behind the sports betting madness
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.
January 24, 2026
Really interesting and well-researched look into a growing crisis in this country. I just wish the publishing schedule had lined up to cover the rise of “prediction markets.”
February 26, 2026
This book was AMAZING!
Let's start with the very minor flaws:
1. The first . . . 150 pages are a little technical. He goes through the background of how sports betting became legal. For me at least it was slow and ponderous. I didn't know any of the names, and he continually uses acronyms that I forgot what they stood for. It was people I'd never heard of, doing things I didn't care about.
2. His solution largely comes with government intervention. The only answer to any of this is the government doing something. I disagree with this assessment, but that is a disagreement in philosophy, not in practice. Sports betting is a serious issue and should be considered incredibly dangerous.
This book scared the pants off of me. I constantly had to go back and tell my wife what I had been reading. I could not believe some of these stories. When he tells people's stories, when he is boots on the ground, human interest stories of what people are actually going through . . . this book shines. An honest and open look at the world of sports gambling that nobody is talking about.
Here is a brief breakdown of the chapters simply because this book was so fantastic:
Excellent book, absolutely fantastic. I didn't always understand all of the gambling terms, but he made it readable.
I think this is going to have to come down to personal responsibility more than expecting the federal government to do something. At the very least, you need to talk about trying to fix things on the state level. But at the end of the day, this is a personal responsibility issue. It is not the government's job to stop you from gambling, nor should we expect help from the people who are clearly profiting from the problem.
Neither side of the aisle looks good here, but there are two moments he probably should have investigated a little closer. One politician told the anti-gambling committee to hand out Bibles, and that was written as a joke. One person talks about how gambling is a symptom of a very unhappy populace.
The plain truth is, as our society has detached from the Bible, detached from God and the personal responsibility of Christian living, it makes sense that we would fall to things like gambling. This is another sin that has been lost in the great amount of sin our society has decided to cheer and applaud over the last 10 years.
It is hard to denounce this sin and fight against it, while we applaud a different sin and try to celebrate it. If we are going to fix this . . . it is going to take us getting back into our Bibles and getting back to a Christian way of living.
That's why this author and I would disagree, but we would totally agree that sports betting has ruined sports. I will probably never watch a sporting event the same way after this one.
Let's start with the very minor flaws:
1. The first . . . 150 pages are a little technical. He goes through the background of how sports betting became legal. For me at least it was slow and ponderous. I didn't know any of the names, and he continually uses acronyms that I forgot what they stood for. It was people I'd never heard of, doing things I didn't care about.
2. His solution largely comes with government intervention. The only answer to any of this is the government doing something. I disagree with this assessment, but that is a disagreement in philosophy, not in practice. Sports betting is a serious issue and should be considered incredibly dangerous.
This book scared the pants off of me. I constantly had to go back and tell my wife what I had been reading. I could not believe some of these stories. When he tells people's stories, when he is boots on the ground, human interest stories of what people are actually going through . . . this book shines. An honest and open look at the world of sports gambling that nobody is talking about.
Here is a brief breakdown of the chapters simply because this book was so fantastic:
Excellent book, absolutely fantastic. I didn't always understand all of the gambling terms, but he made it readable.
I think this is going to have to come down to personal responsibility more than expecting the federal government to do something. At the very least, you need to talk about trying to fix things on the state level. But at the end of the day, this is a personal responsibility issue. It is not the government's job to stop you from gambling, nor should we expect help from the people who are clearly profiting from the problem.
Neither side of the aisle looks good here, but there are two moments he probably should have investigated a little closer. One politician told the anti-gambling committee to hand out Bibles, and that was written as a joke. One person talks about how gambling is a symptom of a very unhappy populace.
The plain truth is, as our society has detached from the Bible, detached from God and the personal responsibility of Christian living, it makes sense that we would fall to things like gambling. This is another sin that has been lost in the great amount of sin our society has decided to cheer and applaud over the last 10 years.
It is hard to denounce this sin and fight against it, while we applaud a different sin and try to celebrate it. If we are going to fix this . . . it is going to take us getting back into our Bibles and getting back to a Christian way of living.
That's why this author and I would disagree, but we would totally agree that sports betting has ruined sports. I will probably never watch a sporting event the same way after this one.
April 26, 2026
4.5. Highly engaging , readable
February 17, 2026
These are five points the book makes against legal gambling that resonated for me:
1. The Industry Depends on Problem Gamblers
A small percentage of heavy users generate a disproportionate share of profits. The system isn’t built on casual fun — it’s built on compulsion.
2. Sports Leagues Switched Sides
Leagues that once warned gambling would corrupt the game now promote betting partnerships and integrate odds into broadcasts. The moral reversal happened fast — and quietly.
3. “Risk-Free” Is a Marketing Illusion
Promotions like bonus bets and boosted odds are engineered to keep people wagering. The language reduces perceived risk while the house edge remains intact.
4. Apps Use Behavioral Data to Nudge Users
Sportsbooks track user habits in real time, tailoring offers to maximize engagement — especially when someone is losing.
5. The Social Costs Are Underplayed
States celebrate tax revenue, but the broader consequences — debt, addiction, family strain, mental health impacts — are harder to quantify and easier to ignore.
1. The Industry Depends on Problem Gamblers
A small percentage of heavy users generate a disproportionate share of profits. The system isn’t built on casual fun — it’s built on compulsion.
2. Sports Leagues Switched Sides
Leagues that once warned gambling would corrupt the game now promote betting partnerships and integrate odds into broadcasts. The moral reversal happened fast — and quietly.
3. “Risk-Free” Is a Marketing Illusion
Promotions like bonus bets and boosted odds are engineered to keep people wagering. The language reduces perceived risk while the house edge remains intact.
4. Apps Use Behavioral Data to Nudge Users
Sportsbooks track user habits in real time, tailoring offers to maximize engagement — especially when someone is losing.
5. The Social Costs Are Underplayed
States celebrate tax revenue, but the broader consequences — debt, addiction, family strain, mental health impacts — are harder to quantify and easier to ignore.
February 19, 2026
I cannot speak highly enough of this book, any American sports fan should be giving it a read. An incredibly well researched and documented account of the explosion of sports gambling in the United States. It is hard to put into words how repulsed I am by sports gambling after reading this book…especially online sports gambling. There are so many nuances to the topic of sports gambling and I believe this book addresses those nuances very well. Once again, I cannot recommend this book enough, one of my favorite reads in a very long time. This should be essential reading for American sports fans.
March 18, 2026
Everybody Loses
- I am going to voraciously consume this book
- A week after field of dreams came out, Pete Rose was banned for life
- For decades sports leagues were the biggest advocates against sports betting
- The powerful Professional and Amateur Sports Protection Act of 1992
- RFK going after the mob and not making bets over the phone
- Daily fantasy
- Shoeless Joe admitted to throwing the World Series but that confession has been covered up
- In the 2010’s a merger between draft kings and fan duel was blocked - a rare win for the FTC
- Betting is as old as humans. We have always gambled
- Live sports is the only thing that people still watch live and on traditional TV. Betters watch more live sports. The connection between betting, TV rights deals, and live sports
- Shortly after becoming commissioner, Adam Silver wrote an op-ed supporting sports betting
- The case was Murphy v. National Collegiate Athletic Association - decided May 2018, Harvard Law Review
- It was actually a Chris Christie case when he was governor but was decided after he was out office
- It did not legalize sports betting - On May 14, 2018, the Court reversed lower courts and sided with New Jersey in deciding that PASPA violated the anticommandeering principle by a 7–2 vote and declaring the entire law unconstitutional by a 6–3 vote.
- Conservative Gorsuch and liberal Kagan were the deciding votes
- Charm the state law makers with star athletes, box seats, and well paid lobbyists. They will do whatever you want. The sports books and leagues literally used the same lobbying firms, just different lobbyists. They did not want to make it look too obvious they were in bed together
- A section on Bill Simmons. I became a fan way later, I never got prime BS. This version is a guy who is the hands of the betting company’s
- In 2023 FD or DK spent a billion dollars on advertising
- A section a sharps, VIPs, professional betters, and losers
- Some companies have the approach of bankrupt them or ban them
- VIPs are only irresponsible losers. They get treated with extravagant perks and experiences, as long as they keep betting and losing. If you win, they cut you off
- These experiences are insane, they are amazing but it would be cheaper if you just paid for them yourself instead of placing bets
- The insane unethical ways that companies work around to ban winners or refuse to pay out winning bets. The companies can mistakes and not pay out but people can’t. If a betting line is wrong, companies are allowed to refuse to pay out
- The only people that care about the responsible gaming departments, are the people in those departments. Companies make profits on people losing
- There are some affiliate programs that get a percent of the lifetime loses of the better
- The book says that the lifetime price of the average better is $3k, that number might not be current and 2% of betters account for +60% of company revenues
- Daily fantasy is about competing against other people. Betting is about competing against the house. They are completely different models, motivations, and ethics
- DK and FD are now owned by European companies
- DK and FD had a massive head start from daily fantasy. They had the market share and they had the data. There have been other companies that have tried to enter the sports book market but most can’t compete with the two dominate forces
- ESPN, media companies, and the leagues sold out to the betting companies
- It is completely unethical for sports journalists to be endorsing gaming sites but journalistic ethics have gone out the window
- There is shockingly few ethical guidelines for journalists and insiders. It is the betting equivalent of insider trading
- People selling picks are con artists
- SPG are just carnival games
- Coach K is a well known gambler?
- NBA ref scandal - they swept that under the rug
- Phil Mickleson has potentially bet $1b in the last 30 years - WTF
- Bet responsibly means the same as just focus more or drink responsibly, it’s incomprehensible
- 6-8% of Americans have a gambling problem
- Many addicts say that gambling was the hardest to quit, even more than nicotine
- Gamblers have a 50% suicide ideation rate - all gamblers, not just addicts. Up to 10% of gambling addicts have attempted suicide
- FD and DK are a duopoly. In 2022 FD became the first sports book to become profitable, DK in 2025. DK spent 4.3b from 2018-2023
- Some states tax the companies as little at 10%. Others such as New York are as high at 51%
- The deceptiveness of promotions, risk free, no stress bet, bonus bets, etc
- States with legal sports betting see bankruptcies increase and credit ratings decrease
- Learning from Europe
- We are training kids to be addicted. It is massive public health danger. High schoolers and middle schoolers are becoming addicted to sports betting. Their brain is barely developed
- The next phase is online casinos, online slots, roulette, etc. These are incredibly more addictive than sports betting. It is terrifying and the companies are trying to push them through
- These companies are worse than tobacco companies
- This was exactly the book I was looking for, with exactly the information I was seeking. Thank you, this was awesome
- I am going to voraciously consume this book
- A week after field of dreams came out, Pete Rose was banned for life
- For decades sports leagues were the biggest advocates against sports betting
- The powerful Professional and Amateur Sports Protection Act of 1992
- RFK going after the mob and not making bets over the phone
- Daily fantasy
- Shoeless Joe admitted to throwing the World Series but that confession has been covered up
- In the 2010’s a merger between draft kings and fan duel was blocked - a rare win for the FTC
- Betting is as old as humans. We have always gambled
- Live sports is the only thing that people still watch live and on traditional TV. Betters watch more live sports. The connection between betting, TV rights deals, and live sports
- Shortly after becoming commissioner, Adam Silver wrote an op-ed supporting sports betting
- The case was Murphy v. National Collegiate Athletic Association - decided May 2018, Harvard Law Review
- It was actually a Chris Christie case when he was governor but was decided after he was out office
- It did not legalize sports betting - On May 14, 2018, the Court reversed lower courts and sided with New Jersey in deciding that PASPA violated the anticommandeering principle by a 7–2 vote and declaring the entire law unconstitutional by a 6–3 vote.
- Conservative Gorsuch and liberal Kagan were the deciding votes
- Charm the state law makers with star athletes, box seats, and well paid lobbyists. They will do whatever you want. The sports books and leagues literally used the same lobbying firms, just different lobbyists. They did not want to make it look too obvious they were in bed together
- A section on Bill Simmons. I became a fan way later, I never got prime BS. This version is a guy who is the hands of the betting company’s
- In 2023 FD or DK spent a billion dollars on advertising
- A section a sharps, VIPs, professional betters, and losers
- Some companies have the approach of bankrupt them or ban them
- VIPs are only irresponsible losers. They get treated with extravagant perks and experiences, as long as they keep betting and losing. If you win, they cut you off
- These experiences are insane, they are amazing but it would be cheaper if you just paid for them yourself instead of placing bets
- The insane unethical ways that companies work around to ban winners or refuse to pay out winning bets. The companies can mistakes and not pay out but people can’t. If a betting line is wrong, companies are allowed to refuse to pay out
- The only people that care about the responsible gaming departments, are the people in those departments. Companies make profits on people losing
- There are some affiliate programs that get a percent of the lifetime loses of the better
- The book says that the lifetime price of the average better is $3k, that number might not be current and 2% of betters account for +60% of company revenues
- Daily fantasy is about competing against other people. Betting is about competing against the house. They are completely different models, motivations, and ethics
- DK and FD are now owned by European companies
- DK and FD had a massive head start from daily fantasy. They had the market share and they had the data. There have been other companies that have tried to enter the sports book market but most can’t compete with the two dominate forces
- ESPN, media companies, and the leagues sold out to the betting companies
- It is completely unethical for sports journalists to be endorsing gaming sites but journalistic ethics have gone out the window
- There is shockingly few ethical guidelines for journalists and insiders. It is the betting equivalent of insider trading
- People selling picks are con artists
- SPG are just carnival games
- Coach K is a well known gambler?
- NBA ref scandal - they swept that under the rug
- Phil Mickleson has potentially bet $1b in the last 30 years - WTF
- Bet responsibly means the same as just focus more or drink responsibly, it’s incomprehensible
- 6-8% of Americans have a gambling problem
- Many addicts say that gambling was the hardest to quit, even more than nicotine
- Gamblers have a 50% suicide ideation rate - all gamblers, not just addicts. Up to 10% of gambling addicts have attempted suicide
- FD and DK are a duopoly. In 2022 FD became the first sports book to become profitable, DK in 2025. DK spent 4.3b from 2018-2023
- Some states tax the companies as little at 10%. Others such as New York are as high at 51%
- The deceptiveness of promotions, risk free, no stress bet, bonus bets, etc
- States with legal sports betting see bankruptcies increase and credit ratings decrease
- Learning from Europe
- We are training kids to be addicted. It is massive public health danger. High schoolers and middle schoolers are becoming addicted to sports betting. Their brain is barely developed
- The next phase is online casinos, online slots, roulette, etc. These are incredibly more addictive than sports betting. It is terrifying and the companies are trying to push them through
- These companies are worse than tobacco companies
- This was exactly the book I was looking for, with exactly the information I was seeking. Thank you, this was awesome
March 28, 2026
(Audiobook) Found myself way more impressed with this work than I expected. When engaging in sports, it is impossible these days not to be overwhelmed with all of the ads and promotions for sports betting. Granted, betting has always been associated with sports, going back to the first sporting competitions between humans and some spectators challenging each other over the results. Clearly sports betting has evolved since then, and now, with the internet and smart phones, you can do it from the comfort of home or wherever you are at. This work looks at the explosion of such things in America. In particular, when the Supreme Court opened the door for states to open and regulate their own sports betting enterprises, it really took off in America, and America, being the home of tens of millions of sports fans, ate it up. Over $150B gets wagered on sports betting in a year, and that figure is only set to grow. It can bring in tax revenue for states, but maybe not as much as expected.
Yet, this book is filled with so many tales of woe and the dangers of gambling. The classic way that gamblers get hooked, how sports books attract players and the damage financially, emotionally, spiritually and physically that gambling can have on people is an ever present theme. That it is now ever-present and so easy to get into just makes it that much more dangerous. That is a hard thing for people to think about when they first get into sports betting. It is a complex business, with some of the smartest minds out there getting into that business to set odds and make wagers. It can appeal to many, and that first win is sometimes one of the best feelings in the world. Yet, sports betting doesn’t exist to make money for the players. The old Vegas adage applies here, in that “the house always wins”. Additionally, the prevalence of sports betting online also opens the door to extra pressures and threats against the very athletes playing in these games. One can’t read the sports sites without coming across another story of some athlete getting abused by distraught bettors, mad because their bet on said player’s action didn’t come to pass. Also, it is telling that as people get too deep into sports betting, they lose their passion for the sports themselves…their only focus on the bet and the result of that bet.
This book is a great balance of history, current analysis, the inner working of how sports betting works, what has been gained, but especially the dangerous of the current enterprise. It would be hypocritical to say “never bet on sports.” I have, usually for small stakes. I have done some sports writing with gambling ties. However, the old rules of how to act in casinos or card games should always apply here: The house always wins, never bet more money than you can afford to lose financially or emotionally, know when to walk away, if you aren’t willing to throw money away, don’t gamble. I don’t see how sports betting will get out of sports anything soon, as the sports leagues are getting too much financially out of sports betting. However, I fear that the only way that changes is if we get something akin to the 1919 World Series happening, where some team attempts to throw the Super Bowl or the World Cup Final. Until then, we are stuck with sports betting. Can’t tell you don’t do it, but I would highly recommend reading a book like this, so you understand just what you and your loved ones might be getting into if you do.
The rating is the same regardless of format. A must read, especially if you are a sports fan.
Yet, this book is filled with so many tales of woe and the dangers of gambling. The classic way that gamblers get hooked, how sports books attract players and the damage financially, emotionally, spiritually and physically that gambling can have on people is an ever present theme. That it is now ever-present and so easy to get into just makes it that much more dangerous. That is a hard thing for people to think about when they first get into sports betting. It is a complex business, with some of the smartest minds out there getting into that business to set odds and make wagers. It can appeal to many, and that first win is sometimes one of the best feelings in the world. Yet, sports betting doesn’t exist to make money for the players. The old Vegas adage applies here, in that “the house always wins”. Additionally, the prevalence of sports betting online also opens the door to extra pressures and threats against the very athletes playing in these games. One can’t read the sports sites without coming across another story of some athlete getting abused by distraught bettors, mad because their bet on said player’s action didn’t come to pass. Also, it is telling that as people get too deep into sports betting, they lose their passion for the sports themselves…their only focus on the bet and the result of that bet.
This book is a great balance of history, current analysis, the inner working of how sports betting works, what has been gained, but especially the dangerous of the current enterprise. It would be hypocritical to say “never bet on sports.” I have, usually for small stakes. I have done some sports writing with gambling ties. However, the old rules of how to act in casinos or card games should always apply here: The house always wins, never bet more money than you can afford to lose financially or emotionally, know when to walk away, if you aren’t willing to throw money away, don’t gamble. I don’t see how sports betting will get out of sports anything soon, as the sports leagues are getting too much financially out of sports betting. However, I fear that the only way that changes is if we get something akin to the 1919 World Series happening, where some team attempts to throw the Super Bowl or the World Cup Final. Until then, we are stuck with sports betting. Can’t tell you don’t do it, but I would highly recommend reading a book like this, so you understand just what you and your loved ones might be getting into if you do.
The rating is the same regardless of format. A must read, especially if you are a sports fan.
May 9, 2026
Not Pulitzer worthy but the book does its job unveiling the curtain of the sports betting world, including how it came to be in the U.S. (because of a decision from the Supreme Court of course, something all too familiar in recent years), how the players are treated (vast difference between the smart ones, or sharps, and the less so, or squares; guess which type is given the VIP status by the sportsbooks), how the house makes money and implements the good old "heads I win, tails you lose" strategy, how the duoply is established (not a spoiler anymore, FanDuel and DraftKings), and how, as most rational and sane people can predict without a crystal ball, legalizing sports betting could impact the mental health of the gamblers and the integrity of the sports.
What surprises, if not disappoints, me is the lack of mention of the prediction market and its newly minted duoply of Kalshi and Polymarket. They are even more brazen and reckless in pushing gambling not only in sports but EVERY DAMN THING in the world, although they don't call it gambling (thus circumventing the laws of the states that have not legalized sports betting yet) or function as the house (I guess they do not offer VIP status to the suckers).
Finally, the topic of gambling hits a little bit too close to home for me. As a five-month old day trader and during a week when I lost more than $50k on a bad bet (granted, the bet was made one month ago but I had to cover this week to avoid heavier losses), I am faced with a serious question raised by the book: given that day trading can be considered gambling, maybe not as blatantly as betting whether the next free throw would go in, do I have a gambling problem as well?
As most people who have a gambling problem would respond, I say no. I have many justifications, such as how I restrict the trading hours so as not to over trade, how I manage the risk by only picking the stocks with the highest probability of winning, how I try to not let myself be emotionally hijacked when a trade doesn't go my way, and most importantly, how this entire experience of day trading is not fun at all (I have to wake up every weekday at 4 AM to catch the pre-market). So no, I don't think I have a gambling problem, nor do I think it is remotely possible that I can get addicted to day trading. I treat it as a challenge, similar to how I managed a 2000-day streak on LeetCode. But unlike LeetCode, which was purely a harmless hobby, day trading can serve as a side hustle to hedge against a likely layoff in the future when the burst of the AI bubble tanks the economy into yet another recession. I see it as a learnable skill, more akin to an arcade game than the slot machine.
Alas, the world has become somewhat of a casino, as rightfully admitted by President Trump. There is no crying in the casino. All we can do is to adapt and be smart about it. Fortunately for me, stock brokerage accounts are not known to limit winners like sportsbooks do. There is still a chance for me dig myself out of the massive hole.
I did not intend this review to turn into a coping mechanism for the loss I have suffered this week, but it is somewhat cathartic. For a list of interesting quotes, check out the Medium article.
What surprises, if not disappoints, me is the lack of mention of the prediction market and its newly minted duoply of Kalshi and Polymarket. They are even more brazen and reckless in pushing gambling not only in sports but EVERY DAMN THING in the world, although they don't call it gambling (thus circumventing the laws of the states that have not legalized sports betting yet) or function as the house (I guess they do not offer VIP status to the suckers).
Finally, the topic of gambling hits a little bit too close to home for me. As a five-month old day trader and during a week when I lost more than $50k on a bad bet (granted, the bet was made one month ago but I had to cover this week to avoid heavier losses), I am faced with a serious question raised by the book: given that day trading can be considered gambling, maybe not as blatantly as betting whether the next free throw would go in, do I have a gambling problem as well?
As most people who have a gambling problem would respond, I say no. I have many justifications, such as how I restrict the trading hours so as not to over trade, how I manage the risk by only picking the stocks with the highest probability of winning, how I try to not let myself be emotionally hijacked when a trade doesn't go my way, and most importantly, how this entire experience of day trading is not fun at all (I have to wake up every weekday at 4 AM to catch the pre-market). So no, I don't think I have a gambling problem, nor do I think it is remotely possible that I can get addicted to day trading. I treat it as a challenge, similar to how I managed a 2000-day streak on LeetCode. But unlike LeetCode, which was purely a harmless hobby, day trading can serve as a side hustle to hedge against a likely layoff in the future when the burst of the AI bubble tanks the economy into yet another recession. I see it as a learnable skill, more akin to an arcade game than the slot machine.
Alas, the world has become somewhat of a casino, as rightfully admitted by President Trump. There is no crying in the casino. All we can do is to adapt and be smart about it. Fortunately for me, stock brokerage accounts are not known to limit winners like sportsbooks do. There is still a chance for me dig myself out of the massive hole.
I did not intend this review to turn into a coping mechanism for the loss I have suffered this week, but it is somewhat cathartic. For a list of interesting quotes, check out the Medium article.
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