Betting on Betting: States Gamble with Their Citizens’ Futures

The house always wins, not the gambler.

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When the NCAA college-football-championship game between Alabama and Georgia kicked off on January 10, all eyes were on the star athletes competing in the limelight. The stars didn’t disappoint. Bulldogs quarterback Stetson Bennett dropped a 40-yard dime to wide receiver Adonai Mitchell, and defensive back Kelee Ringo returned an interception 79 yards for a TD.

In the prelude to the game, though, the news coverage was less about the athletes and more about the odds, moneyline, spread, and over-under. One wealthy mattress-store owner bet $2.7 million on Alabama — and lost. Sports betting is King. Or Caesar, depending on your preference.

TC

About the Author

Tom Copeland

Tom Copeland is the director of research at the Centennial Institute. The views and opinions expressed are those of the author and do not necessarily reflect the official position of the Centennial Institute or the Colorado Christian University.

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