“Integrity was a useful buzzword, but it had little to do with integrity.” ~ Danny Funt
“I don’t think it’s far-fetched to think there was a strategy of… let’s extract as much as we can before people wise up.” ~ Danny Funt
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In this episode of the Straight to the Point Talking Shop Podcast, I was joined by Danny Funt, author of the new book Everybody Loses: The Tumultuous Rise of American Sports Gambling. You can purchase the book here.
Funt has been making the media rounds to promote his book, so I tried to discuss unique angles and dig into his findings a little deeper than the mainstream press.
Danny explains why he spent years interviewing sports-book executives, league officials, VIP hosts, regulators, and veteran bookmakers to uncover the true drivers and consequences of the post-PASPA explosion.
We spent quite a bit of time on the leagues’ shifting attitudes toward sports betting following the 2018 PASPA ruling. What started as fierce opposition to sports betting quickly became aggressive lobbying once there were dollars to be made.
Among the topics discussed were the failed push for “integrity fees,” the pivot to official data deals, and what Funt termed a coordinated strategy between the NBA, NFL, MLB and operators like FanDuel and DraftKings, complete with Bulls-suite schmoozing sessions for lawmakers.
We also unpack how the industry’s “low-margin” claims have shifted to double-digit hold rates, with the onset of micro-bets and SGPs.
The conversation then shifted to integrity, how the black market proved far more resilient — and smarter — than advertised, Funt’s discovery of the cutthroat affiliate economy, and the ethical tightrope walked by VIP hosts pressured to be “betting buddies” to high-spending customers.
And what would a 2026 podcast be without some prediction market talk, as Funt and I discussed whether prediction markets might face the same regulatory reckoning that the licensed sports betting industry is currently dealing with.
