Sports Betting Is Not Investing

Nov 12, 2025

Explore the booming U.S. sports betting market and its controversial scandals. Discover the alluring yet misleading claims of low-risk betting strategies and why they're still a gamble. Learn how behavioral biases can lead to betting addiction, even amidst the lure of high-probability bets. Dive into the math behind betting odds and the elusive house edge, revealing why consistent profits are unlikely. Ultimately, understand the stark differences between investing and gambling, emphasizing that betting is inherently risky.

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INSIGHT

Rapid Rise Of Sports Betting

U.S. sports betting exploded after the 2018 Supreme Court decision and grew from under $1B in 2019 to nearly $14B last year.
Betting is now integrated across media and prediction markets, changing how fans interact with sports.

ANECDOTE

Host Signs Up For A Betting Newsletter

David received an email pitching a sports-betting newsletter that treats bets like an investment portfolio.
He signed up and used the newsletter's first bet on a Pittsburgh Penguins game as an experiment.

INSIGHT

High Probability Bets Yield Small Returns

The newsletter's approach bets on high-probability events with implied odds like -150 (≈60% win chance) or heavier.
High win probabilities yield small payouts and large relative losses when a bet fails.

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