Experts suggest the industry could be a $45B business

Sports betting, explained

Since a 2018 Supreme Court decision overturned the Bradley Act, which spurred a state-by-state legalization of online gambling, sports betting has become a rapidly growing multibillion-dollar industry.

Americans spent nearly $150B in sports-related bets in 2024

These bets ranged from who would win the World Series to what color clothes famous celebrities would wear to the Super Bowl. Experts believe the industry will continue to grow.

Sports media have also embraced sports betting

For decades, ESPN kept its distance between reporting on games and talking about gambling lines. Sports teams refused to have franchises in Las Vegas, fearing it would harm the sport. But since 2018, that has changed. ESPN’s personalities regularly pick games, and the company has also launched its own betting app.

Legal gambling on Super Bowl 60 is expected to reach $1.76B

Legal Super Bowl wagering has grown sharply over the past decade as US states legalized sports betting. In 2018, sports betting was only legal in Nevada and accounted for $158.5M.

Some experts equate prediction markets to the new crack cocaine of gambling addiction

An addiction psychiatrist at UCLA says betting apps are far more potent than traditional gambling, citing a 19-year-old patient who lost $180,000 and hadn't left campus in a year, cycling through sports bets, crypto, meme stocks, and prediction markets on his phone. This interview explores the extreme edge of the nascent industry.

Decoding sports-betting language

The world of sports gambling is filled with insider lingo: What's a "spread"? How about a "moneyline" or a "parlay"? This resource breaks down the jargon, helping you navigate the industry or, at least, giving you the keys to talk about it.

Even athletes aren't immune to the sports-betting craze

While gambling scandals occasionally blew up before 2018, the widespread legalization of sports betting provided athletes with more opportunities to bet on the games they were playing.

How much does sports betting generate?

According to 2025 data, sports betting generated $2.7B in state tax revenue. That number has increased every year since the government began collecting data in 2021.

Frictionless online gambling platforms accelerate compulsive behavior

As of late 2025, as much as 95% of bets are placed online, where "always on" betting and a variety of formats, such as prop bets and parlays, encourage users to keep participating. Experts warn that the normalization of gambling through advertisements also reduces the perceived danger of addictive gambling.

'Moneyball' author Michael Lewis believes sports betting is a problem for young men

The noted journalist and author of "Moneyball," "The Big Short," and "The Blind Side" has now fixed his discerning eye on the sports-betting industry. In this interview, he explains why he sees sports betting as a problem for American society, especially boys and young men, and why he believes the government needs to regulate the nascent industry more seriously.

Consumers will use digital payment processing for nearly $40T in spending by 2028

That's just one signal of the industry's massive growth. Investments in the global fintech industry have grown from $4B in 2010 to $92.3B in 2021, as both businesses and consumers seem to quickly adopt new fintech products, from digital payment apps to robo-advisers.

How prediction markets differ from sportsbooks matters for regulation

There are a number of differences and similarities between sportsbooks and prediction markets, despite both allowing people to bet on outcomes for sports-related events. For instance, prediction markets typically earn revenue through transaction fees rather than taking directional exposure to outcomes.

Fantasy football is now a $10B industry

Curious about how fantasy football grew into a global empire? This video breaks down how a losing Oakland Raiders team led to the first form of fantasy football, long before the internet and smartphones made it a worldwide phenomenon.

How math whizzes exploit sportsbooks

Chris Dirkus is a professional sports bettor who approaches the hobby as a math problem, not from a fan's perspective. He focuses on mispriced odds in popular games where many fans are betting for high liquidity. He's one of a rare segment of sports bettors exploiting slow models and human mistakes.

The pickleball market is expected to hit $4.4B by 2033

In 2023, the global pickleball market was $1.5B. By 2023, it's expected to grow by a compound annual growth rate of 11.3%.

Explaining the rise in adult sports leagues

Community sports leagues shifted from publicly supported entities to privatized ones in the 1990s, as tech advances streamlined registration processes. Millennial interest drove significant growth in social sports leagues for adults, growing much faster than other kinds of sports. A few industry leaders have benefited from this shift.

Ranking valuations of NBA teams

NBA teams were worth a total of $138B in 2024, with the Golden State Warriors the highest-valued at over $9B, according to research and analysis conducted by sports business outlet Sportico. Dive into the data with this write-up and visualization.

The way dating apps make money is changing

As downloads fall across the industry, dating apps are trying to stay competitive by adding paywalls to their business models. The more than $6B dating app industry is largely dominated by Match Group, the parent company of both Tinder and Hinge. This video explores how AI and human behavior are changing the industry one right swipe at a time.

Retail investing by the numbers

When average Americans began pouring into the stock market, Wall Street wasn’t sure if its new guests were there to stay. But at the end of 2023, Public confidently declared that retail investors “weren’t going anywhere” after 30 million new individuals began buying and selling stock. Download the report to learn more here.

The global horse market is worth about $400B

In this podcast episode from a new series on horses, Freakonomics explores the market around buying and selling some of the world's top sport horses, and the nebulous forces that make them so valuable.

Menopause may become a $600B industry

Companies marketing products and supplements to alleviate menopause symptoms and make life easier during this life stage have become a gold mine. This 2022 article explores how and why companies have swooped into this space, and whether you should trust them or not.

A hoops expert on the likely March Madness expansion

Rumors about March Madness expanding to a field of 76 teams have led to consternation among some college basketball fans, who believe overcrowding the tournament will dilute what makes it great. HoopsHQ's Seth Davis argues it's a good idea, comparing the change to college football's recent (and highly successful) playoff system.

The health food industry grew significantly in the early 1990s

By 1996, there were over 6,000 health food stores in the US, which generated over $9B in sales. That was still a small number compared to traditional supermarkets, but it was a 17% improvement in annual growth over the previous five years, highlighting a rapidly growing industry.

More than $3.5B has been invested through AngelList

AngelList was created to connect startups and angel investors. It’s evolved since its 2010 founding and has been used by companies like Uber and OpenSea.

NFL stadiums are designed to maximize profit, not number of seats

Most stadiums are actually getting smaller as the cost of land rises. Owners have sought to increase returns by designing prestige suits and clubs (rather than just more general admission) and laying out the stadium to maximize customer purchases.

While the first exchange-traded fund (a 'basket' of different assets that can be bought and sold on a stock exchange) in the US only launched in 1993, the global ETF market has grown to more than $10T in the short time since.

SpaceX's S-1 or 'prospectus' revealed many previously unknown details about the company, including its unprofitability despite doing $18.7B in revenue in 2025, exactly how many voting shares Elon Musk will have in the company (roughly 85%), and more.

US consumers collectively owe more than $1T to credit card companies—almost as much as they owe in auto loans.

Telehealth demand for GLP-1s for weight loss is booming as consumers seek easier access.

Fast-casual restaurant Chili's is experiencing a resurgence, with its parent company recently reporting a nearly 32% increase in sales, thanks to passionate Gen Z fans on TikTok.

Fireworks-related ER visits are on the rise—in 2024, they increased by 52% as compared to the prior year.

The 1987 Nintendo video game 'Stadium Events' isn't known for being particularly fun, but its scarcity has made it a highly sought-after item that has sold for up to $35K at auction.

The Nasdaq's 'Magnificent 7' companies are responsible for roughly 40% of the Nasdaq 100 index's gains, while the remaining 93 companies account for the other 60%.

Electrical grids worldwide must double their power delivery capacity by 2050 to meet surging demand from AI and electric vehicles.

Long before Major League Baseball began allowing instant replay for balls and strikes, an umpire reluctantly used the technology to determine whether a hit was a home run, a move that inadvertently ushered in a new era for the sport.

Art theft is the third-largest source of criminal revenues worldwide, thanks in part to the subjective nature of valuing a work of art.

See how Budweiser's famous Clydesdales spend their days at Warm Springs Ranch, where roughly 70 to 80 of the beer brand's giant horses can be found at any given time.

About 2,000 US babies are born annually without some portion of their limbs, potentially leading to a lifetime of pricey prosthetics.

A pickleball's loud 'pop' sound can reach 120 decibels, which is equivalent to a hammer hitting a nail

Warren Buffett's former professor Benjamin Graham is known as the 'father of value investing,' a strategy in which investors seek to buy stocks trading below their intrinsic worth.

The most expensive ad of all time was for Chanel No. 5 perfume and cost roughly $33M to produce in 2004—about $57M in today's dollars.

A Yale student wrote a profound essay about the consulting industry's influence on elite college students that was published in a book of her writing after she died in a post-graduation car accident.

44% of Americans say they pray at least once a day—discover how your state's religiosity stacks up against the rest of the country.

A century of Billboard issues documenting the evolution of popular music.

Search a massive database of over 4 decades of clues from the TV quiz show 'Jeopardy!'

NBA superstar Victor Wembanyama spent the 2025 summer training with monks in central China to enhance his body and mind.

Browse a detailed visual analysis of over 200,000 similes—comparisons that often use 'like' or 'as'—from popular fiction to see how frequently writers the same idiomatic expressions.

Stanford built a Google Maps for the Roman Empire, revealing how much it cost to travel in the ancient world

The syncytiotrophoblast is the outer layer of the placenta and the largest human cell, spanning an area about twice that of a king-sized bedsheet.

Chaos theory—informally known as the butterfly effect—is the reason why weather forecasts are presented with probabilities rather than certainties.