By Danny Funt
Here's a snapshot of America today: More people place a bet in a year than read a book.
That's rather distressing news, since it would be nice to think that reading can be a constructive exercise while gambling is more on the destructive side. It's interesting bordering on ironic, then, to have "Everybody Loses" in the bookstores.
Danny Funt has written something of a recap of the sports gambling business in this United States, which began on a formal basis with a Supreme Court decision in 2017. You may not like what betting has done to the sports business since then, and that's understandable. On the other hand, as Funt shows here in several ways, the situation is worse than you think.
At the time that gambling on our games became legal, the moral argument for not allowing it had more or less sailed out of port. Casinos and lottery games were growing around the country, and governments were more than happy to take in some of the proceeds - even though it usually proved to be less of a silver bullet for growing debt than was advertised.
But opening up betting on our sports events was a little different. People figured to start betting on matters that nothing to do with the final score, a category that started with point spreads but moved into areas like "prop bets" and "parlays" that tie a string of potentially unrelated events together in an attempt bettors to gamble more money. Sure enough, that's the case. So-called experts or "touts" are happy to offer advice on how a particular game might play out, but they usually don't publish an honest review of their results - and it's probably below the breakeven line of more than 50 percent right.
There were also fears that that the fans would become more cynical, that they would suggest that foul play was at work when actions by players and officials caused them to lose money. That's difficult to quantify, but certainly the stories of death threats and the like toward players - particularly on social media - have made the rounds. You can't strike out or drop a pass or shank a drive without knowing about possible repercussions any more.
With so many types of gambling, it's easy to guess how easy it is to fix an outcome. A player can quietly miss a few shots and throw away some passes and change a point spread for the first half. It allegedly happened in some University at Buffalo basketball fans a few years ago, so it can happen almost anywhere.
We've also seen how news outlets are anxious to play ads (and more ads) for the bookmakers and post odds near game schedules, and noticed how the leagues themselves have invested in those companies after decades of saying they were sticking up for the integrity of the games. It's tough to tune out, and Funt outlines it nicely.
But there's even more to the story, as it outlined in the book. For example, you've probably seen advertising for special introductory offers for opening accounts, such as "First Bet Free." What you don't know unless you've been there is that the offer comes with enough catches to keep a team of lawyers occupied.
You also don't know what happens to winners. Yes, some people do win consistently for one reason or another. But sometimes the company notices, and immediately limits the amount of money a bettor can gamble on a particular sport. The companies prefer losers, thank you. If that means making big losing bettors part of a VIP club that gives them bonuses and benefits to keep them around, well, that's not a problem. Yes, it would be nice if a company would notice that an individual is betting most of his income on games, but that gets in the way of profit and loss statements.
The number of addicted gamblers is adding up quickly too. It's gotten far, far too easy to be able to bet on games, thanks mostly to phones. You almost don't even notice the losses adding up. It's particularly true for men in the 18-29 age group, who are full of false confidence that they know more than the experts setting the lines.
And it's all been done in a haphazard way. After all, other countries like England have been allowing sports betting for many years. You might think it would be ask someone in authority over there about the pitfalls of starting such an operation here. Didn't happen.
It's all rather ugly. Funt occasionally gets bogged down in legal and governmental bureaucracy (and accompanying anagrams) involved in the subject, but that's unlikely to be objectionable to those reading it. The research is solid, and the background stories are through and interesting.
Someone once asked me if there was anything that could get in the way of the "gravy train" that is pro sports in this country. I said gambling might represent the biggest potential roadblock, particularly if game fixing became more common. There's a spot for athletic entertainment that has prearranged outcomes - it's called professional wrestling - but much of the attraction of pro sports to fans and - more importantly - television network is that it's real life drama. That disappears if people don't believe everything is on the level.
Those with an interest in the subject will find "Everybody Loses" to be a very good guidebook to where we've been and where we're going.
Four stars
Learn more about this book from Amazon.com. (As an Amazon affiliate, I earn money from qualifying purchases.)
Be notified of new posts on this site via X.com @WDX2BB.




