Inside the explosive growth of sports betting
A CBS News investigation into sports gambling found that companies like FanDuel push hard to keep gamblers engaged and wagering, even as their losses pile up. Jim Axelrod has more.
Sports Betting
The dark side of online betting
The U.S. has seen an explosive rise in online betting in recent years, with more platforms available than ever before. But behind the surge is one of the darker sides of big business, one that takes advantage of vulnerable gamblers. Jim Axelrod reports.
Betting apps accused of fueling addiction
Betting apps are being accused of fueling addictive behavior, especially for vulnerable gamblers. Alex Klavens, a data journalist for The New York Times, interviewed former DraftKings employees who claim the platform may have been targeting addicts. He joins CBS News 24/7 to discuss his findings.
Sports betting apps entice fans as gambling exacts a growing financial toll
Betting platforms FanDuel and DraftKings say tools are there to help addicted gamblers slow down.
The addiction of online sports gambling
The money legally wagered on sports gambling has surged to $167 billion a year since it was legalized beyond Nevada in 2018. But data show, in states where online gambling has been made legal, bankruptcies and credit card delinquencies go up 25%. Correspondent Jim Axelrod talks to a gambler who wagers his annual income; and examines how the online betting platforms FanDuel and DraftKings – now the subjects of lawsuits regarding their design – interact with their customers.
Prediction market traders face long odds
Prediction market platforms give fans the chance to make money on anything from predicting where Taylor Swift will get married to major sports. But a recent study found the top 1% of traders on Polymarket capture more than three-quarters of all gains. Jo Ling Kent spoke with a prediction market trader who wrote an AI-powered computer program to help him win big.
World Cup expected to generate more in sports bets than the Super Bowl
Americans are expected to wager more than $3 billion amid the expansion of legalized sports betting in the U.S.
Rise in online gambling among kids and teens
A recent survey shows 36% of boys between the ages of 11 and 17 have gambled in the past year. Among 17-year-old boys, it rises to 49%. Psychiatrist Dr. Sue Varma explains how parents can approach the topic with their kids.
Journalist describes gambling experiment
McKay Coppins, a writer for "The Atlantic," was given $10,000 by the magazine to immerse himself in online gambling. "The Atlantic" agreed to cover his losses and split any winnings. Coppins speaks about his recent article, "Sucker: My Year as a Degenerate Gambler," in which he details losing nearly all of the money and the impact of betting.
Online sports betting linked to rising delinquency rates, report finds
A study from the New York Fed found that delinquency rates increased faster in states where online sports betting is legal.
NCAA accuses DraftKings of "March Madness" trademark infringement
DraftKings pushed back on the accusation, saying in a statement that it is not engaging in trademark infringement.
Atlantic writer on becoming a "degenerate gambler"
How much money could you make if you were given $10,000 to gamble on sports? That's what The Atlantic's McKay Coppins sought to answer in his latest piece: "My Year as a Degenerate Gambler." Coppins joins "The Takeout" to recount the experience.
NCAA president talks March Madness
As March Madness begins, NCAA president Charlie Baker spoke to "CBS Mornings" about the impact of sports gambling and its ability to compromise games, concerns over prediction markets and if March Madness could expand into a bigger tournament.
Prediction markets soar ahead of the Super Bowl
Emboldened by loosened restrictions from federal regulators, prediction markets look to cash in on Super Bowl Sunday.
New study on gambling ahead of Super Bowl
Americans are expected to spend a record-breaking $1.76 billion on this weekend's big game, according to the American Gaming Association. Hua Gong, assistant professor of sport analytics at Rice University, joins "The Daily Report" to discuss a study he co-authored that found a link between sports betting and violent crime.
Chris Christie on prediction market boom
Former New Jersey Gov. Chris Christie was once one of legalized sports gambling's greatest advocates, but ahead of Sunday's Super Bowl, he's concerned it's going too far. Christie joins "The Takeout" to discuss.
Criminals plot to sack Super Bowl fans for a loss with these online scams
Lawmakers are warning Americans to beware the many financial scams linked to Super Bowl LX, from fake betting sites to counterfeit tickets.
26 charged in college basketball gambling scheme
Federal prosecutors have charged 26 people, including many college basketball players, in an illegal gambling probe. Danny Funt, author of "Everybody Loses: The Tumultuous Rise of Sports Gambling," joins to unpack the alleged scheme.
10/23: The Takeout with Major Garrett
NBA player and coach among 30+ arrested in investigations into gambling, sports rigging; High early voting turnout in 2025 elections.
DraftKings hopes to score big with new prediction markets app
Sports betting companies face mounting competition from rapidly growing prediction markets such as Kalshi and Polymarket.
Wanna bet? Online prediction markets wager that you will
Prediction markets, like Kalshi, which allow people to place wagers on everything from elections and sports to the anticipated bridesmaids at Taylor Swift's wedding, are booming. But this burgeoning business model is coming under scrutiny.
Online prediction markets: Yes or no?
The people behind the prediction market Kalshi, where people can place wagers on everything from elections and sports contests to the anticipated bridesmaids at Taylor Swift's wedding, say its users trade a billion dollars every week. But as prediction markets are expanding, this burgeoning business model is coming under the scrutiny of some state regulators and attorneys general. Jo Ling Kent reports.
Alleged mafia member charged in multimillion-dollar N.J. sports betting ring
A New Jersey-based illegal sports betting ring allegedly headed up by a mafia member has been broken up, officials said Thursday.
The growth of sports betting in the U.S.
Two Major League Baseball players have been charged with sharing inside information with gamblers, according to a federal indictment unsealed on Sunday. CBS News' Lindsey Reiser looks at how prolific sports betting has become since its legalization in 2018.
MLB's Emmanuel Clase, Luis Ortiz charged with taking bribes to rig pitches for bettors
Federal agents said they arrested Luis Leandro Ortiz Ribera in Boston Sunday and also revealed the indictment against Emmanuel Clase de la Cruz.
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