The Gray Area with Sean Illing America is losing big on sports betting
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Aug 11, 2025 Join Jonathan D. Cohen, a writer and author of Losing Big: America's Reckless Bet on Sports Gambling, as he reveals the explosive growth of sports betting in America. He discusses how tech-savvy apps lure young men into gambling, turning it into a cultural norm. Cohen highlights the social and psychological costs, including rising addiction rates among younger demographics. The conversation critiques the industry's marketing tactics, examines the parallels with financial platforms, and explores the urgent need for responsible regulations to protect vulnerable gamblers.
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How 2018 Opened The Floodgates
- The 2018 Supreme Court decision (Murphy) let states legalize sports betting.
- Jonathan D. Cohen shows that ruling opened the floodgates for rapid statewide rollouts.
FanDuel And DraftKings' Market Grip
- FanDuel and DraftKings dominate the market with roughly 80–85% share.
- Jonathan D. Cohen frames them as an effective duopoly shaping industry terms.
Colorado Shows The Industry Playbook
- Colorado's push came from one lawmaker, Alec Garnett, who worked closely with companies.
- Jonathan D. Cohen recounts how companies helped write legislation and used a ballot initiative.
