Sports betting boom fueled by sophisticated tech | 60 Minutes

Next Sunday on CBS, the Super Bowl will, for the first time, be held in Las Vegas… a fitting venue given the prominent role gambling plays in sports today. America has recently brought its age-old love of sports betting out of the shadows and onto our phones… and this has created an all-time mismatch, pitting man against machine: gamblers—overwhelmingly young men; versus gambling companies, armed with sophisticated AI, data, and engineering, enticing fans to make snap bets, not just on games, but on every play within games…The early results? Billions for gambling companies, leagues and state governments… and a growing population of sports bettors, struggling to defend against the rush. 

Boston is nothing, if not a sports town… 

And when there’s a game, odds are good there are guys like Billy… Andrew… and John at the local bar…

They grew up playing hockey together. Now in their mid 20s, they bond over beer, wings, trash talk….and lately, a new fixture of the fan experience…

Jon Wertheim: What do you guys bet on?

Billy: Football and hockey–

Jon Wertheim: Do you have a team?

Andrew: Bruins, Patriots. If you want to lose money, you bet on the Patriots. (LAUGH)

Winning and losing money… for millions of fans, like these guys, it’s one more reason to watch and enjoy sports.

During games, promotions for sportsbooks like FanDuel and DraftKings are everywhere…

A 2018 Supreme Court decision opened the door for states to legalize sports betting. 

Tantalized by new revenue, 38 states and counting have done just that.

And Americans have spent more than a quarter of a trillion dollars sports betting… that’s the GDP of Greece… leagues have cashed in. Networks, too. 

For decades, odds and point spreads were forbidden topics. Now? ESPN has its own sportsbook. 

Full disclosure: When I work at the tennis channel, I sit here. 

Back at the bar, casual, social bettors like Billy, Andrew and John revel in their wins.

Jon Wertheim: What’d you throw down?

John: $8 for $347.

Jon Wertheim: So, you won $300–

Billy: You won $347?

Andrew: Wow. 

Jon Wertheim: You won– 

(laugh)

Jon Wertheim: Wait, you won–

Billy: I didn’t know (laughter) it was that much.

It’s still early innings, and, remarkably, there is no federal funding for gambling research, so data is…