Letters to the Editor: Sports betting is just a mathematically losing proposition
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To the editor: Kudos to guest contributor Myron Levin for pointing out the similarities between advertising by the gambling industry and the tobacco industry (“Celebrities who shill for sports betting are the modern Marlboro Men,” Oct. 14).
To entice gamblers in the targeted group of males 18-49, the industry uses terms like “gaming” and “trading” rather than gambling.
Furthermore, engaging in this activity is a mathematically losing proposition. With the point spreads the way they are, the odds of winning any single bet are essentially 50/50, or 1 out of 2. While the industry promotes pay-outs “if you win,” the odds of winning go down considerably each time another bet is added to the parlay. In a two-bet parlay, the odds of winning are roughly 25%, or 1 in 4. In a three-bet parlay, the odds of winning become 1 in 27 and the odds go down from there with each additional bet.
Gamblers would be better off going to the racetrack or Vegas.
Alan Schuchman, Los Angeles
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To the editor: One can’t help noticing the new pervasive promotion of online gambling sites on sports radio and television. Online gambling sites are major sponsors on my favorite L.A. radio sports talk show.
One thing Levin’s excellent op-ed fails to mention is that, as most people learn from Las Vegas, “the house” ultimately wins.
James Dietze, Fair Oaks
