EVERYBODY LOSES

Care to wager? Yes, America says, to the tune of billions.

For decades, Funt writes in this insightful work of journalism, sports executives agreed that betting was “evil” and would undermine competitive integrity if made broadly legal. But in recent years, pro leagues have done a 180, inking lucrative partnerships with companies that offer round-the-clock betting. Since a 2018 Supreme Court decision enabled states to legalize sports gambling, Americans have bet hundreds of billions of dollars. Funt’s interviews with 300 industry employees, gamblers, athletes, and others illuminate what’s been lost in the process. Along with game scores, adults with smartphones can bet on the stats of stars and second-stringers alike, exposing both pro and college players to threats from aggrieved gamblers. Easily replenished spending accounts and misleading promotions have fueled gambling addictions; one schoolteacher’s 18-month tally: “100K blown.” Meanwhile, watching live sports now means enduring an onslaught of betting commercials. Funt, who’s chronicled some of the above for the Washington Post, goes deep on the industry’s dark side. Gambling companies employ so-called hosts, who woo “VIP” bettors—gamblers who place big, unsuccessful wagers—with game tickets and personalized gifts. The goal, says a former host, is to “keep them losing.” College and pro sports had numerous gambling-related scandals long before 2018, and observers worry that young sports fans “are being groomed to gamble for life” and that a superstar player may eventually get caught. “That would kill the league,” an NBA agent says. Funt’s book isn’t overtly prescriptive, but he offers a helpful summary of proposed legislation to rein in some of the industry’s excesses. This is an intelligent overview of an increasingly powerful economic and social force.

Energetic reporting exposes the underbelly of an industry that always wins, no matter who’s playing.