The Problem With Sports Gambling

The Problem With Sports Gambling

Last week, an FBI investigation into gambling led to the arrest of several prominent basketball stars, raising questions about the state of legalized sports betting, which has enriched professional sports and sports media. The problems with sports gambling extend far beyond the integrity of the game. A 2024 working paper from economists at UCLA, Harvard, and USC found that states that legalized sports gambling after the 2018 ruling by the U.S. Supreme Court saw “a substantial increase in average bankruptcy rates, debt sent to collections, use of debt consolidation loans, and auto loan delinquencies. We also find that financial institutions respond to the reduced creditworthiness of consumers by restricting access to credit.” A separate analysis found that nearly one in five men aged 18-24 is on the spectrum of having a gambling problem. There’s no question that sports betting has taken over sports. It’s all over ESPN, all over my favorite sports podcasts. This podcast is a part of The Ringer Podcast Network, which has close relationships with the sports book FanDuel and has several shows devoted to gambling. I listen to them. Quite a lot, actually. It would be easier for me as the host of this episode if my position on gambling had the clarity of pure outrage. If I thought that gambling was a pure vice, a mere nuisance, and a total drag, I would say: Let’s just be done with it. On the opposite end, if I thought that legalized sports gambling posed no risk to bettors, didn’t threaten the integrity of professional sports, and represented an obvious improvement to the previous regime of black-market betting, I’d say: Ignore these moralizing bozos and place your 15-part parlay. The trouble is that I don’t have the advantage of clear outrage on this issue. I think that sports gambling is fun. And I think that it threatens the integrity of professional sports. And I think that it ruins some people’s lives. Today’s guest is Jonathan Cohen, the author of 'Losing Big: America’s Reckless Bet on Sports Gambling.' Like me, Jon is worried about the effect that legal sports gambling is having. Also like me, he sometimes bets on sports. Also like me, he listens to Ringer podcasts. If you have questions, observations, or ideas for future episodes, email us at PlainEnglish@Spotify.com. Host: Derek Thompson Guest: Jonathan Cohen Producers: Devon Baroldi Learn more about your ad choices. Visit podcastchoices.com/adchoices

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One Big Question For: Apple, Microsoft, Alphabet, Amazon, Tesla, and Meta

One Big Question For: Apple, Microsoft, Alphabet, Amazon, Tesla, and Meta

They’re the six largest tech companies in the world. What’s the most interesting thing about each of them? Shira Ovide, author of the On Tech newsletter from The New York Times, joins Derek to talk about why Norway is a snapshot of Tesla’s future, why Microsoft is so underrated, and why Apple stands alone among the tech giants in more ways than one. Host: Derek Thompson Guest: Shira Ovide Producer: Devon Manze Learn more about your ad choices. Visit podcastchoices.com/adchoices

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Should We Cancel Student Debt?

Should We Cancel Student Debt?

Americans owe $1.7 trillion in student loans, and some Democrats think the time has come to cancel this burden. Derek shares 10 big student-loan facts that shape the debate. Then Jordan Weissmann of Slate joins the podcast to talk about the proposal to cancel student debt, the best arguments for and against it, the modern history of student loans, and their economic and psychological burden. Host: Derek Thompson Guest: Jordan Weissmann Producer: Devon Manze Learn more about your ad choices. Visit podcastchoices.com/adchoices

28 Jan 202237min

Crypto Crashing, Pandemic Stocks Plunging: The Story Behind January’s Crazy Stock Market

Crypto Crashing, Pandemic Stocks Plunging: The Story Behind January’s Crazy Stock Market

Morgan Housel, the bestselling author of ‘The Psychology of Money’ and a partner at Collaborative Fund, is back to talk Bitcoin, Peloton, tech stocks, financial media myths, the psychology of stock market corrections, and the long view of investing. Host: Derek Thompson Guest: Morgan Housel Producer: Devon Manze Learn more about your ad choices. Visit podcastchoices.com/adchoices

25 Jan 202244min

2022 Is Off to a Terrible Start for Democrats

2022 Is Off to a Terrible Start for Democrats

Legendary journalist James Fallows joins to discuss the filibuster wars, Democrats’ Voting Rights Act, the political outlook for Joe Biden and the Democrats, and the media’s negativity bias (as exemplified, one might argue, in the headline to this very episode). Host: Derek Thompson Guest: James Fallows Producer: Devon Manze Learn more about your ad choices. Visit podcastchoices.com/adchoices

21 Jan 202241min

The Biggest Losers of the Streaming Wars: ESPN, Movie Theaters, Peacock, and More

The Biggest Losers of the Streaming Wars: ESPN, Movie Theaters, Peacock, and More

Do movie theaters have a future? What should Disney do with ESPN? And is anybody watching Peacock? Derek’s favorite entertainment-media analyst Rich Greenfield joins the pod to talk about the future of TV, movies, and live sports. Host: Derek Thompson Guest: Rich Greenfield  Producer: Devon Manze Learn more about your ad choices. Visit podcastchoices.com/adchoices

18 Jan 202249min

Everybody Was Wrong About Inflation

Everybody Was Wrong About Inflation

Okay, almost everybody. The Biden administration was wrong. Many critics of the Biden administration were also wrong. The Federal Reserve was wrong. Investors were wrong. Banks were wrong. And Bitcoin investors weren't exactly right, either. How did everybody miss the most important economic story of the year? Derek breaks down the highest inflation rate in 40 years and welcomes back his economic roundtable guests, the finance podcasters Michael Batnick and Ben Carlson.  Host: Derek Thompson Guests: Michael Batnick & Ben Carlson  Producer: Devon Manze Learn more about your ad choices. Visit podcastchoices.com/adchoices

14 Jan 202243min

Omicron: Feelings vs. Facts

Omicron: Feelings vs. Facts

Derek talks about the rise of the "Vaxxed and Done" movement before reviewing the latest omicron data with John Burn-Murdoch, data superstar at the Financial Times. Host: Derek Thompson Guest: John Burn-Murdoch  Producer: Devon Manze Learn more about your ad choices. Visit podcastchoices.com/adchoices

11 Jan 202236min

The Biggest Inventions of the 2020s: Cancer Vaccines, Flying Cars, Space Travel, and More

The Biggest Inventions of the 2020s: Cancer Vaccines, Flying Cars, Space Travel, and More

Let’s kick off the new year with a bit of techno-optimism! After a miserable start to this decade, we can still have a Roaring Twenties. In this episode, ‘Plain English’ presents a tour of the frontier of science and technology with Derek’s favorite innovation writer, the economist Eli Dourado. Host: Derek Thompson Guest: Eli Dourado Producer: Devon Manze Learn more about your ad choices. Visit podcastchoices.com/adchoices

7 Jan 202254min

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