Andrew Yang Podcast The Dark Secrets of Sports Gambling: Why Millions Are LOSING More Than Money
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Dec 16, 2024 
Charles Lehman, a Manhattan Institute Fellow and urban policy expert, dives into the dark world of online sports gambling. He sheds light on how algorithms prey on addiction and the financial destruction it wreaks on young men and families. Lehman discusses the rapid legalization of gambling despite known harms, revealing its psychological toll. The conversation also addresses the normalization of gambling in sports media and its damaging social repercussions, urging a rethinking of regulations to protect vulnerable populations.
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Andrew Yang's Betting Story
- Andrew Yang shares his personal sports betting experience, explaining how he got involved through a promotion.
- He discusses how it transformed his sports viewing experience and negatively impacted his mood and time.
Rapid Legalization and Industry Positioning
- Sports gambling legalization happened quickly after a 2018 Supreme Court ruling overturned a federal ban.
- Fantasy league companies strategically positioned themselves to dominate the emerging sportsbook market.
Betting Workarounds
- Due to legality restrictions, Andrew Yang used to call his brother-in-law in New Jersey to place bets for him.
- This workaround highlights the pre-2018 legal landscape and people's desire to bet despite restrictions.