Jonathan D. Cohen, gambling policy expert at the American Institute for Boys and Men and author of Losing Big: America's Reckless Bet on Sports Gambling, joins Scott Galloway to discuss how the 2018 Supreme Court decision unleashed a $150 billion industry — and what it's costing young men.
They discuss why frictionless mobile betting is uniquely dangerous, how states were sold on legalization for tax revenue that rarely materializes, and why gambling has the highest suicide rate of any addiction.
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Timestamps
00:00 - In This Episode
00:43 - What were the real impacts of legalizing sports betting?
02:29 - What are the biggest externalities of widespread sports betting access?
04:13 - What regulations would you like to see imposed?
05:24 - What's the evidence for why frictionless gambling is a real issue?
06:28 - Is there evidence that the increase in online betting is hurting young men?
09:05 - Why are men more predisposed to gambling addiction?
11:21 - Ad Break
13:07 - How would you distinguish between gambling apps and prediction markets?
15:45 - What are the most effective ways to add friction to gambling systems?
18:00 - Should betting platforms be financially responsible for gambling harms?
19:28 - How should betting companies be disincentivized from serving customers?
20:26 - Why have so many states embraced the legalization of sports betting?
21:38 - What’s the state of play in the legislative market right now?
22:59 - If you could only implement one reform, what would it be?
23:40 - Ad Break
25:11 - What can we learn from how other nations handled betting?
27:02 - What demographics are most vulnerable to gambling addiction?
28:50 - Should schools be educating kids on sports gambling?
31:18 - Is there any treatment for gambling geared towards young people?
32:23 - Where are we in the sports betting cycle, and when does regulation catch up?
34:58 - What’s the financial harm caused by sports betting?
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