3min chapter

Risk of Ruin cover image

Made in America - Part II

Risk of Ruin

CHAPTER

The Only Legitimate Kind of Gambler Is a Loser

The sports betting industry that's emerged through legalization is a vivid example of politicians joining corporations to view the public as a mark or a source of cash to extract. The rules that replace prohibition, which implicitly support the idea that gamblers should only be losers, end up protecting bookmakers. Advantage gamblers are willing to live outside of society's norms so it might seem like they've hardened themselves to social pressures. But Jack talked about the gamblers version of keeping up with the Joneses.

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