Against the Rules with Michael Lewis Michael Lewis on the Prof G Pod
71 snips
Dec 24, 2024 
Scott Galloway, Professor of marketing at NYU Stern, welcomes Michael Lewis for a deep dive into the alarming rise of sports betting in the U.S. They discuss its potential societal consequences, likening it to historical crises. Lewis also shares insights from his latest book, touching on investment strategies born from distress, particularly after the FTX collapse, while encouraging listeners to pursue their personal passions over societal expectations. A compelling mix of gambling, economics, and authenticity awaits!
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Sports Betting Boom and Consequences
- The US sports betting market, newly legalized, has exploded, now dominated by FanDuel and DraftKings.
- Early research suggests negative social consequences like increased bankruptcies and decreased savings.
Gambling as a Public Health Crisis
- Sports gambling, particularly among young men, is a growing public health crisis, potentially leading to addiction and suicide.
- The accessibility of mobile gambling exacerbates the problem, with companies adept at identifying and exploiting vulnerable gamblers.
Stigmatizing Gambling
- To mitigate the harms of sports betting, stigmatize having an active FanDuel or DraftKings account.
- Treat it as a sign of poor financial judgment, discouraging association with those who gamble frequently.
