Danny Funt

And what we're seeing is such pervasive rates of problematic gambling, even if you don't have a clinically diagnosable problem.

And what I mean by that is,

A third of gamblers saying they've felt ashamed after how much money they've lost.

Half of gamblers saying they've lost money and then bet and bet and bet to try to make up for it, what's called chasing losses, a telltale sign of a gambling problem.

Half of sports bettors admit to that.

Wow.

You also see...

Research that in a very scientific way has demonstrated that in states that have legalized sports betting, there are higher bankruptcy rates, worse credit scores, worse family savings.

I hate to even bring this up, but higher rates of domestic violence compared to states that haven't legalized.

You know, you might be thinking, I bet 50 bucks here, 100 bucks there.

These products are engineered to get you to get carried away, to get you in over your heads.

And you might look up and say, how did I lose thousands of bucks this season?

That's what they are masterminds at getting you to overdo it.

Yeah, it's so galling.

You know, that single customer, I spent a lot of time trying to track down who they are because they've lost over $100 million.

They're maybe the biggest loser of the legal online betting era.

The closest I could get is that they have inherited oil wealth, but I don't know anything beyond that.

But that side of the business catering to VIPs,

As they call it, people who lose at minimum tens of thousands of dollars on a weekly basis.

I had been covering this for years.