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Losing Big: America's Reckless Bet on Sports Gambling

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Jonathan D. Cohen

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“Andrew missed two mortgage payments and the bank called his father, whose name remained on the title. His parents confronted him and, seven years after he placed his first bet, he confessed that he had a gambling problem. It came as a complete surprise. His mother said it felt “like we were hit by a truck.” For his father, the confession immediately explained so much of Andrew’s behavior the previous few years: his shabby clothes and beat-up car that seemed out of place for a young attorney, his isolation, his use of the family credit card for innocuous purchases, his moodiness, his encyclopedic knowl- edge of seemingly every sport, his addiction to his phone, and so on.”

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Book:Losing Big: America's Reckless Bet on Sports Gambling
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“In the years immediately following the Murphy decision, sportsbooks got almost everything they realistically could have wanted in the American marketplace. Sports gambling became legal in thirty-eight states; online gambling in thirty. Industry lobbying generally kept tax rates low. Partnerships with leagues and celebrity spokespeople embedded gambling into the sports ecosystem. Advertising made it inescapable. And the bets came pouring in.”

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Book:Losing Big: America's Reckless Bet on Sports Gambling
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“Little needs to be done to persuade people that stealing to support a gambling habit is wrong. But what about a sportsbook identifying a bettor who is trying to quit and targeting them with promotional credits? What about an app interface with limitless betting options designed to satiate bettors’ constant need for action, where one can lose multiple mortgage payments in a matter of seconds? What about an industry whose entire business model relies on a small percentage of players losing large amounts of money?”

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Book:Losing Big: America's Reckless Bet on Sports Gambling
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“Every other addictive product that you can think of, government seeks to regulate its distribution and consumption,” Levant observes. Given gambling’s official classification as addictive, and especially the evidence about the habit-forming potential of online gambling, a public-health framework suggests the need for measures to protect consumers before they have the chance to harm themselves or someone else.”

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Book:Losing Big: America's Reckless Bet on Sports Gambling
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“By the time someone recognizes the need for a deposit limit, their dopamine pathways may already be rewired in a way that makes it difficult to slow their gambling -- and therefore makes them unwilling to opt into a program to do so.”

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Book:Losing Big: America's Reckless Bet on Sports Gambling
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“The industry's version of 'responsible gaming' is designed to pull people from the river once they are drowning rather than requiring guardrails to make sports gambling products less dangerous,” Daynard, Gottlieb, and Levant wrote in 2022.”

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Book:Losing Big: America's Reckless Bet on Sports Gambling
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