Inside the explosive growth of sports betting - Fresh Air Recap

Podcast: Fresh Air

Published: 2026-03-12

Duration: 44 min

Guests: McKay Coppins

Summary

Sports betting in the U.S. has exploded, growing from $4.9 billion in 2017 to $160 billion in 2022. Journalist McKay Coppins shares his first-hand experience gambling during an NFL season to examine the cultural, economic, and personal costs of this booming industry.

What Happened

Journalist McKay Coppins undertook an experiment to immerse himself in America's rapidly growing sports betting industry. Starting with $10,000 provided by his employer, he bet throughout an NFL season to understand the platforms, psychology, and societal effects of gambling. Despite initial confidence, his season ended with a loss of $9,891, revealing the harsh realities of an industry designed to profit from most participants losing.

Coppins describes how online platforms like DraftKings and FanDuel have brought sports betting to smartphones, making gambling more accessible than ever. He details how apps use techniques like 'profit boosts' and flashy marketing to engage users, often targeting younger audiences. In 2022 alone, Americans wagered $160 billion on sports, a dramatic increase since the Supreme Court overturned a federal ban in 2018.

He shares insights from talking to experts like Nate Silver, who explained the math behind betting and why the majority of gamblers lose money. Silver noted that even breaking even is a statistical outlier, underscoring how the system is stacked against casual bettors. Coppins also recounts moments of paranoia, such as suspecting game referees of rigging outcomes, a mindset exacerbated by real scandals uncovered by the FBI.

Coppins discusses how prediction markets like Kalshi and PolyMarket have expanded gambling to geopolitical and cultural events, including wagers on regime changes and military outcomes. These platforms often encourage insider trading, arguing it enhances predictive accuracy, though critics view this as deeply unethical and dystopian.

The conversation also explores how sports leagues have reversed their stance on gambling. Once staunchly opposed due to fears of game-fixing, leagues like the NFL and NBA now embrace partnerships with sportsbooks, driven by financial incentives. This shift raises questions about conflicts of interest and the integrity of professional sports.

Coppins highlights the lack of federal regulation and how state-level oversight is inconsistent. He cites Congressman Paul Tonko, who compared sportsbook ads to big tobacco marketing due to their targeting of younger audiences. Despite the clear risks of addiction, legislation to regulate this booming industry has stalled in Congress.

The episode concludes with Coppins reflecting on the addictive nature of gambling and his decision to self-exclude from betting platforms. He emphasizes how gambling's appeal lies in its psychological grip and the belief that a big win is always possible, even when the odds are overwhelmingly against it.

Key Insights

• Online sports betting platforms like DraftKings and FanDuel hook users with tactics like 'profit boosts'—temporary odds adjustments that make wins seem more attainable. These apps prioritize targeting younger audiences, contributing to Americans wagering a staggering $160 billion on sports in 2022, up from near-zero before 2018.
• Nate Silver explains why most gamblers lose: even breaking even is a statistical outlier because sportsbooks set odds to guarantee their profit margin. The system is so skewed that even a math-savvy bettor is likely to come out behind over time.
• Prediction markets like Kalshi and PolyMarket now let people bet on geopolitical events, including regime changes and military conflicts. While proponents claim insider trading improves predictive accuracy, critics see it as an ethical minefield that monetizes human suffering.
• Sports leagues like the NFL and NBA, once anti-gambling over fears of game-fixing, now profit from partnerships with betting platforms. This financial entanglement raises questions about whether leagues can safeguard game integrity while encouraging fans to wager.

Key Questions Answered

What does McKay Coppins reveal about America's sports betting industry on Fresh Air?

Coppins reveals how sports betting has exploded since 2018, with Americans wagering $160 billion in 2022. He highlights the rise of platforms like DraftKings and discusses the societal and personal costs of gambling.

How do prediction markets like Kalshi and PolyMarket operate?

Kalshi and PolyMarket allow users to bet on outcomes in politics, geopolitics, and culture by buying positions similar to a derivatives market. They often encourage insider trading, arguing it improves predictive accuracy.

What role did the Supreme Court play in the growth of sports betting?

The 2018 Supreme Court decision overturned the federal ban on sports betting, allowing states to legalize it. This spurred a rapid expansion, with dozens of states following New Jersey's lead.