Planet Money How sports gambling blew up
135 snips
Dec 18, 2024 Dive into the world of sports gambling, where a 2018 Supreme Court decision revolutionized the industry. Discover how data analytics and behavioral strategies have transformed betting practices, making it tougher for players to beat the odds. Hear firsthand accounts from savvy gamblers and bookies who exploit biases and adapt to the fast-paced, evolving landscape filled with mobile apps and enticing promotions. This episode explores the risks and rewards as sports bets become a cornerstone of modern fandom.
AI Snips
Chapters
Transcript
Episode notes
Roxy's Rise
- Michael Roxborough, or Roxy, used statistical analysis to beat sports gambling odds in the 1970s.
- By considering factors like weather and ballpark dimensions, he made a killing in Vegas.
Sports Gambling's Evolution
- Sports gambling, like financial markets, evolves with technology and analysis.
- Roxy's edge diminished as his methods became common knowledge, highlighting the constant need for innovation.
Rufus's Accidental Entry
- Rufus Peabody, unlike Roxy, stumbled into gambling after developing predictive models for sports.
- His models, initially for academic interest, proved so accurate that he attracted attention from the gambling market.