The sports world is having a reckoning.

Taking Bets

The Story

The sports world is having a reckoning.

Over what?

Gambling. At least 38 states have legalized sports betting, following a 2018 Supreme Court ruling. Many sports leagues and networks have since partnered with platforms like FanDuel and DraftKings to cash in on the $120 billion sports gambling industry. While fans are encouraged to make their bets, professional and collegiate athletes are told to stay away from certain bookies amid concerns it could influence how they perform. Still, that hasn’t stopped some players.

Give me the play-by-play.

In recent years, a number of gambling scandals have rocked pro and college sports leagues. Just this week, the NBA confirmed it’s investigating a Toronto Raptors player amid suspicious betting activity. Meanwhile, LA Dodgers’ Shohei Ohtani is facing questions over his interpreter’s alleged $4.5 million in illegal wagers. Now, some are calling for a new game plan on sports betting. 

Like…?

The NCAA wants to ban player prop bets, when fans cast wagers on things like the number of points or rebounds a player makes. At least three states already do so. One Democratic lawmaker wants to take federal action. A bill introduced earlier this month would aim to in part stop gambling platforms from airing commercials during live sporting events. TBD if the odds are in their favor.

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The sports industry has weathered scandals before. Yet, the rise in sports betting has leagues facing questions about their credibility and integrity, especially when their players are involved.

Who learned his fate...

Sam Bankman-Fried. Yesterday, a judge sentenced crypto’s former golden boy to 25 years in prison for defrauding investors. A jury found SBF guilty last year of stealing over $8 billion from FTX customers to pay for his other crypto company, Alameda Research. SBF's sentencing is far shorter than the 40 to 50 years prosecutors asked for. Still, this marks an end to one of the largest fraud cases in US history...for now. SBF plans to appeal his conviction, but said “at the end of the day, my useful life is probably over now.”

What’s giving people more options…

The US Census. Yesterday, the government announced it’s updating the federal survey to include more options for Hispanics and people of Middle Eastern and North African (MENA) heritage. It’s the first update to the census’s ethnic and race section since 1997. Starting in 2030, the census will combine the race and ethnicity questions. For the first time, there will also be boxes for people of MENA descent. The changes are to address critics who've said the current census doesn't capture the country's diversity. Experts say the new data could be used to shape voting districts and policy.

What could be costing you more this season…

Easter Bunny chocolate. The cost of cocoa reached a high of $10,000 a ton for the first time this week, and that cost could be passed on to customers. Crop viruses and climate change have hit West African farmers hard — which is where 70% of the world’s cocoa beans come from. Some chocolate makers might melt under pressure, forcing them to raise their prices, use less cocoa, or downsize their candy bars. Other candymakers may push things like marshmallows and jelly beans. Peeps, anyone?

While people try to wrap their heads around “applejuiceification”...

More women could opt to put down that cocktail.

Who’s got everyone line-dancing…

Beyoncé.

Who Russian bots were interested in…

Kate Middleton.

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