ON NOVEMBER 30, English soccer teams Newcastle United and Norwich City played to a 1–1 draw in a Premier League matchup. The teams were last and second-to-last in the league at the time, so even most diehard soccer fans didn’t care much about the result.
But I cared. I kept a close eye on the match as Newcastle had a player sent off, managed to take the lead anyway in the second half, and relinquished that lead with about 10 minutes left. The result cost me $10.
Shortly after that match ended, Leeds United scored a late penalty kick to get a win over Crystal Palace, and I made $6.25. I lost a few dollars overall, but it was worth it for the entertainment of having a financial stake in the result of two soccer matches I otherwise wouldn’t have mustered much enthusiasm for.
I placed my bets for both matches at the Caesars Sportsbook inside Capital One Arena in Washington, D.C. A sportsbook is a venue, physical or virtual, where betting on sports can occur. The in-person Caesars Sportsbook location is basically a sports bar that also has desks and computer kiosks; patrons can place bets using the kiosks or using the Caesars Sportsbook app while they’re in the building.
It’s a way for sports fans to raise the stakes and try to make a little money—with more skill required and entertainment provided than picking random lottery numbers and watching some ping pong balls bounce around (though some sportsbooks do accept bets on table tennis matches). Even if a bet loses, the bettor paid whatever amount they lost for the entertainment of having a financial stake in the game. It’s not all that different from paying for a movie and getting entertainment in return, but in this case the entertainment is the potential to make money offsports drama.
This story is from the March 2022 edition of Reason magazine.
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This story is from the March 2022 edition of Reason magazine.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 8,500+ magazines and newspapers.
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