"Although estimates vary a bit, only about 3 percent of sports bettors turn a profit in the long run. And to do so, they must win not 50.1 percent of their bets, but more than 52.5 percent to account for the cut that sportsbooks take."
McKay Coppins received $10,000 from The Atlantic to explore sports betting as a degenerate gambler for an April cover story. The article examines the economics of sports betting, revealing that approximately 3 percent of bettors achieve sustained profitability. To reach profitability, bettors must win more than 52.5 percent of their bets, accounting for the sportsbook's cut. This threshold demonstrates the mathematical disadvantage facing most bettors. The article includes a trivia game tied to Coppins's reporting, with readers invited to guess whether he ultimately joined the profitable 3 percent.
Read at The Atlantic
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