On this episode of the Business of Betting Podcast, Jeff Edelstein is joined by Danny Funt, journalist and author of Everybody Loses: The Tumultuous Rise of American Sports Gambling, for an in-depth conversation on the legalization of sports betting, industry incentives, responsible gambling, and how betting is reshaping sports culture.
Hear them discuss:
00:00 – Danny’s background covering sports betting, the origins of Everybody Loses, and why he wanted to avoid writing a one-sided hit piece on the industry
03:00 – The historical context behind legalized sports betting, from early league opposition to the post-PASPA explosion
06:00 – Reporting challenges, access issues, and which major operators and leagues declined to participate in the book
08:00 – VIP bettors, sportsbook incentives, and why a small group of customers drives a disproportionate share of industry revenue
11:00 – Sports betting, cultural gamification, and concerns around youth exposure and normalization
15:00 – Responsible gambling efforts inside sportsbooks and what surprised Danny most during his reporting
19:00 – Team partnerships, exclusive VIP perks, and how access to sports experiences is used to retain high-value bettors
22:00 – Where the industry is making progress, including funding for treatment and counseling
24:00 – Prediction markets, DFS parallels, and the regulatory gray areas creating friction with lawmakers
28:00 – How betting changes fandom, emotional investment, and the way fans experience sports
31:00 – Industry reaction to the book, media framing, and what Danny hopes comes next for sports betting regulation
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