A new book just dropped that's going to make some of you uncomfortable: "Everybody Loses" by Danny Funt, an examination of America's sports betting explosion and its consequences. The thesis? The house always wins, and everyone else—bettors, sports leagues, society—pays the price.

We read it. Here's the deal.

The Quick Hit

• The book: "Everybody Loses" by Danny Funt (just released)
• The argument: Sports betting's rapid legalization has created more problems than benefits
• The numbers: $35 billion wagered on NFL alone in 2024, $150 billion across all sports
• The question: Is this sustainable, or are we headed for a reckoning?

Funt isn't wrong about the numbers. Americans legally bet a record $1.39 billion on the Super Bowl last year, and this year will probably break that record. The industry has exploded since the Supreme Court struck down PASPA in 2018.

What the Book Gets Right

The book makes valid points about the speed of legalization. States rushed to get sportsbooks operational, sometimes without adequate regulatory frameworks. The result? A patchwork system where consumer protections vary wildly.

Funt also highlights the marketing onslaught. DraftKings and FanDuel spent billions on advertising, making betting seem normal, easy, and risk-free. "Bet responsibly" disclaimers flash by in half a second while promotions promise free bets and risk-free wagers.

The integrity concerns are real too. As we've covered extensively, point-shaving scandals are happening. Prop bets on individual player performance create incentives that didn't exist before. The NFL sent a memo limiting certain props for a reason.

What the Book Misses

Here's where we push back: betting has always existed. Before legalization, Americans placed billions in illegal wagers with offshore books and local bookies. Those operations had zero consumer protections, zero regulatory oversight, and zero tax revenue going to states.

Legal betting, for all its flaws, is better than the alternative. You can dispute a charge with DraftKings. You can't dispute with your bookie's enforcer.

The book also underestimates agency. Yes, some people develop gambling problems. That's real and should be addressed with better resources and support systems. But millions of Americans bet recreationally without destroying their lives. Treating all bettors as victims doesn't match reality.

The Bigger Picture

The Harvard Gazette reported this week that sports betting concerns are growing as wagers skyrocket. A Pew Research poll found 43% of U.S. adults think legal sports betting is bad for society—up from 34% in 2022.

Public sentiment is shifting. After years of expansion, we might be entering a correction phase. The 90% gambling loss deduction cap is already squeezing recreational bettors. New York is considering banning live betting. Tennessee just ordered prediction markets to shut down.

The pendulum swings both ways. The question is whether it swings toward better regulation or back toward prohibition.

Our Take

Look, we're a gambling site. We write about parlays and bad beats and degens turning $25 into $25,000. That's our world, and we love it.

But we're not blind to the downsides. The marketing is aggressive. The accessibility creates risks for vulnerable people. The industry needs better self-regulation before governments impose heavy-handed restrictions.

"Everybody Loses" is worth reading even if you disagree with its conclusions. Understanding the criticism makes us better advocates for responsible gambling reform. The goal should be a sustainable industry that provides entertainment for millions while protecting those who need protection.

The Bottom Line

Danny Funt wrote a book arguing sports betting is bad for America. Some of his points land. Others miss the mark. The truth is somewhere in the middle—like most things.

We'll keep covering the industry honestly. The wins, the losses, the scandals, the regulations. Being a degenerate doesn't mean being ignorant. Read the book if you want a different perspective. Then go place your Super Bowl bets anyway.

That's what we're doing.