NO SUCH THING Should athletes be allowed to bet on themselves?
Mar 25, 2026
Danny Funt, author of Everybody Loses and a historian of American sports gambling, joins to trace betting's long arc. Conversations cover how betting reshapes broadcasts and fan behavior. They unpack parlays, microbets, industry marketing, and the integrity risks when players’ actions intersect with wagers. The discussion finishes on regulation, social harms, and whether athletes betting on themselves raises red flags.
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Odds Come From Global Markets Not Psychic Vegas
- Odds are not mystical Vegas pronouncements but an aggregation of global betting markets and sharp bettors' actions.
- Opening numbers draw from overseas markets and are adjusted by professional gamblers' bets to 'sharpen' lines.
How Sportsbooks Guarantee Their Edge
- Sportsbooks bake a house edge (the VIG) into odds so they profit regardless of outcome and often side with professional bettors.
- Typical lines show minus-110 so bettors must win ~52.5% to break even against the VIG.
Most Sports Bets Happen Alone And Are Hidden
- Betting apps target isolated users as much as social groups; many place bets alone and feel embarrassed about losses.
- FanDuel research showed heavy advertising doesn't stop usage and many users hide their betting from friends.
