Everybody Loses
The Tumultuous Rise of American Sports Gambling
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- $28.99
Publisher Description
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, including:
• 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.
PUBLISHERS WEEKLY
In this eye-opening debut investigation, reporter Funt digs into the rise of American sports betting. He chronicles the history of sports gambling laws, detailing how an exemption for fantasy leagues in the early 2000s led to a "gray market" that allowed for the rise of FanDuel and DraftKings, platforms on which users competed to win money by drafting a team of athletes and earning points based on their real-world performances. As the fantasy sports industry grew, the companies successfully lobbied lawmakers and sports leagues to embrace sports betting, and in 2018 the Supreme Court struck down the federal ban. The sports gambling industry boomed as sportsbook companies promoted the dream of walking away with a small fortune. But, as Funt reveals, the market is designed to favor the gambling companies, not those placing bets. Sportsbooks make it incredibly difficult to win, boosting their own profits by limiting wager amounts for sharp bettors who consistently win and denying payments on winnings. Through firsthand accounts of bettors, including a teacher who lost more than $100,000 in two years, and former sportsbook executives (one of whom admits these companies are "selling that you can win, but you can't"), Funt paints a disturbing portrait of a developing industry. No stone is left unturned in this comprehensive takedown.
