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Can We Bet on This?

Can We Bet on This?

So now we’re into March Madness with all the betting taking place on the “brackets.” The National Football League has a closer relationship with gambling than ever before. Outfits like FanDuel, Draft Kings, and Wild Casino are getting permission for more and more access to real time betting, including by smart phone. You can bet on a specific putt being made or missed in a gold tournament, or how many point a given player will score in a basketball game. (Just this morning it was revealed that baseball superstar Shohei Ohtani’s interpreter, Ippei Mizuhara, has been fired because of “massive theft” to cover his huge gambling losses, estimated to be over a million dollars.)

Are we going to be a nation of legalized gambling to fund ourselves as we continue to incur a massive national debt? In 2021, the US government collected about $31 billion from state lotteries (https://fivethirtyeight.com/features/what-percentage-of-state-lottery-money-goes-to-the-state/).

The odds are always in the house’s favor, but it seems like it may just be a house of cards.

Written by

Alan Weiss is a consultant, speaker, and author of over 60 books. His consulting firm, Summit Consulting Group, Inc., has attracted clients from over 500 leading organizations around the world.

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