

How Sports Betting Hit the Mainstream in America
46 snips Feb 10, 2023
Kenneth P. Vogel is an investigative correspondent for The New York Times, detailing the rapid rise of legalized sports betting in the U.S. He explores how the industry transitioned from illegal to mainstream, particularly around high-profile events like the Super Bowl, which is expected to attract $16 billion in bets. Vogel discusses the societal implications, the role of lobbying in legalization, and how platforms like DraftKings and FanDuel revolutionized the betting landscape. He also raises concerns about consumer protections and the oversight of this booming market.
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Black Sox Scandal
- The 1919 Black Sox scandal involved eight Chicago White Sox players accused of throwing the World Series for gambling money.
- This incident, along with Pete Rose's lifetime ban for betting on his own team, highlighted integrity concerns in sports.
Fantasy Sports Startups
- Fantasy sports companies DraftKings and FanDuel exploited a legal gray area, similar to Uber and Lyft.
- They capitalized on the demand for online fantasy sports with real money stakes despite legal uncertainties.
Leagues' Change of Heart
- Leagues initially opposed sports betting, fearing compromised integrity.
- However, dwindling viewership and fan engagement led them to reconsider, viewing betting as a potential solution.