Most of my bets ended up losing, but the long-shot Hurts-Barkley parlay hit, and when the game ended, I calculated that I was up $20. I kept watching even after a weather delay pushed it late into the night, scrolling frenetically next to my sleeping wife in search of angles to exploit with late-game bets. After some consideration, he said (a bit tentatively, if I’m being honest), “I don’t think you’re doing anything wrong.” He grasped the difference between gambling with my own money and using my employer’s for research purposes. When I set out to report on the sports-betting industry—its explosive growth, its sudden cultural ubiquity, and what it’s doing to America—my editors thought I should experience the phenomenon firsthand.
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- The dad, craving a Sunday-afternoon bonding experience, would open the account, make picks with his son, and then split the winnings—while covering the losses himself.
- In January, federal prosecutors accused 39 college-basketball players across 17 Division I teams of taking bribes from gamblers to underperform.
On my last day in Vegas, I finally caught up with Perry at Circa, whose sportsbook features a 1,000-seat theater, a 78-million-pixel Jumbotron, and half a dozen rooftop swimming pools from which gamblers can watch games and place bets. Over several frenzied days in December, I disregarded every rule Silver had taught me—throwing money at random prop bets and constructing multi-leg parlays like I was a mad scientist mixing volatile compounds in a lab. When I’d started out, I put no more than $100 on most games; now I was betting up to $500—impatiently swiping to deposit more money when DraftKings or FanDuel told me I was out of funds. Florida allows online sports betting only through an app called Hard Rock Bet, whose servers are on Native land—the result of a 2021 compromise between gambling lobbyists and the Seminole Tribe.
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I had put a lot of money on the Seahawks to cover a two-touchdown spread. One Sunday evening, we hosted a small Christmas party, where Steve and Ryan asked me how my gambling was going. While my wife and kids ice-skated, I sat in the minivan, our toddler napping in his car seat, as I put together a six-game parlay (lost $80). Point spreads and moneylines ran constantly through my head, mingling with the omnipresent Christmas carols to create a strange backbeat to the holiday season. Months of diligent recordkeeping were abandoned as the flurry of action caused me to lose track completely of how much I had bet, and on what. It was almost midnight—the Christmas tree was glowing nearby, my father-in-law was dozing on the couch, and I had just lost $500.
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The books are constantly adjusting their lines to keep users evenly balanced on each side of a given bet, in order to limit the risk of lopsided payouts, which would cut into their profits. We rolled up to the BYU tailgate party—fancy bespoke sodas instead of beer; a canned-food drive in place of keg stands—and spent the hours before the game eating barbecue and taking pictures with Cosmo, the beloved Cougar mascot. Like any good father, I had made a project in recent years of indoctrinating my young kids in the need4spins casino sports fandom of my alma mater. In late September, my family piled into our Honda Odyssey and drove to Greenville, North Carolina, for the Brigham Young–East Carolina football game.
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Are you staying up late to watch West Coast games with teams whose rosters you know nothing about? Are you going to sleep and waking up thinking about your bets? Bettors who start spending more time or money than usual on the app will receive a notification alerting them to the anomaly—hence the Reality Check alerts I had impatiently dismissed. Carton went to rehab in Arizona, spent a year in prison, and, when he got out, started counseling compulsive bettors and speaking at schools about the dangers of gambling addiction.
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“You’re, like, a betting genius now,” he said. The dopamine system in my brain had been hijacked; I needed money on the game to care about it. If I could sustain that kind of performance over the long term, he said, it would place me in the top 5 percent of sports bettors.
Two years later, Congress passed the Professional and Amateur Sports Protection Act, which effectively banned most sports betting outside Nevada. High-profile scandals—the White Sox World Series fix in 1919, the Mafia-instigated point-shaving scheme at Boston College in 1978—had convinced commissioners that betting posed an existential threat to organized sports. In 1631, Puritans banned games of chance in Plymouth Colony “under pain of punishment.” In 1794, a Pennsylvania law prohibited “cockfighting, cards, dice, billiards, bowling, shuffleboard, horse racing, or any other type of gambling.” Ever since the advent of sports, humans have found ways to lose money gambling on them.
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In remarkably short order, gambling has permeated every nook and cranny of American life. Now the NFL, the NBA, and MLB all have large equity stakes in the data companies that power the sportsbooks. Hadn’t Silver himself made hundreds of thousands of dollars gambling? “If you make one penny, that would be better than 98 percent of people over an entire season,” Silver answered, as if this were obvious. Props and parlays are how sportsbooks generate most of their profits. After that first triumphant game, things had gone downhill.