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“I’m a prop”

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Legal betting changed sports. Now it’s changing the players.

Billions are wagered but not everyone’s a fan

On October 1, 2023, Los Angeles Lakers star forward LeBron James took to Instagram Live to share his thoughts on the Dolphins-Bills NFL matchup with his 159 million followers:

“Between the Dolphins and Buffalo, Don’t be putting up your life savings on my picks, this ain’t for the bettings and whatever y’all be doing, this is just because I love football and I’m a fan of the game… I’m gonna go with Buffalo to give Miami their first loss today.”

Three months later, the four-time NBA champion announced a deal with DraftKings, where he would continue to make football picks in partnership with the sportsbook in 2024.

Meanwhile, seven NFL players were suspended indefinitely for betting on football games during the 2023 season.

Welcome to the messy relationship between sports betting and professional leagues in 2024.


In the US, gambling has long been a taboo topic in the realm of pro sports. The phrase “sports betting” evoked images of Pete Rose, who was permanently barred from the MLB’s Hall of Fame after allegations he'd wagered bets on games he played in and managed, and Tim Donaghy, the disgraced former NBA official who was sentenced to 15 months in prison for betting on games that he'd officiated in the 2000s. 

NBA color commentators would, on occasion, make witty allusions to “Vegas” and “bad beats” when a reserve shooting guard busted a betting line with an otherwise inconsequential 3-pointer at the end of a game, but sports betting was otherwise given the Lord Voldemort treatment: never to be spoken of directly.

Then everything changed in May 2018 after the Supreme Court essentially legalized sports gambling. Six years later, 39 states now offer some form of legal sports betting, with more than half offering online sportsbooks. Americans bet an astounding $119B+ on sports in 2023, up 27.5% from the year before. Those bets yielded nearly $11 billion in revenue, a jump of 44.5% from 2022. Sports betting has proved to be a lucrative business.

Professional sports leagues have benefited as well, thanks to high-priced advertising deals. Sportsbooks, racing to claim market share in the nascent market, have paid top dollar to get in front of fans. DraftKings, for example, spent $185M, $495M, and $981M on sales and marketing in 2019, 2020, and 2021, respectively. The bet appears to have paid off, as DKNG’s stock is up more than 300% since announcing its IPO in 2020.

One group that hasn’t benefited from this influx of money? The athletes. Players aren’t allowed to engage in sports betting in their own sports (and some leagues ban betting on other sports as well), but sports betting has certainly been engaging with them.

After practice two weeks ago, Boston Celtics forward Jayson Tatum said: “Fans yell shit all the time, shoot one more three, get one more rebound, get 25 before the half is over… I guess I do feel bad when I don't hit people's parlays. I don’t want them lose money.”

Should we be surprised? It feels like every NFL television broadcast is brought to you by DraftKings. FanDuel paints its logo on the Bulls’ and Raptors’ home courts. Podcasts are saturated with discount codes for free play. And now the NBA will let you bet in real time via NBA League Pass.

With prop bets ranging from whether Klay Thompson hits the over on 6.5 3-point attempts to the odds that a kicker will hit the uprights on a field-goal attempt, gambling is no longer an extra business layered on top of the outcomes of professional sporting events. The sportsbooks are the business, and the games happen to be something for us to bet on.

“To half the world, I’m just helping them make money on DraftKings or whatever. I’m a prop.”

Pacers guard Tyrese Haliburton summed up this new reality during an interview posted on X, saying: “To half the world, I’m just helping them make money on DraftKings or whatever. I’m a prop.”

The explosion of sports betting isn’t just affecting the relationship between fans and players; it’s threatening the integrity of games themselves as more and more players are being investigated for their involvement in sports-betting scandals.

In 2023 alone, more NFL players — 10 —served suspensions for sports betting than in all other years of league history combined. These suspensions impact teams’ salaries and personnel decisions. The Detroit Lions alone had four players suspended, and three of them were ultimately cut from the team. Detroit also lost the NFC Championship game by 3 points, narrowly missing a Super Bowl appearance. Would those three players have changed the outcome of their season? Maybe.

NFL Player Suspensions for Betting (History) Bar Chart
NFL Player Suspensions for Betting (History) Bar Chart

Jontay Porter, a role player for the Toronto Raptors, is being investigated for betting irregularities surrounding prop bets on his stat lines in a January 26 match. DraftKings said the under on Porter’s made 3-pointers for a game was the biggest money on player props across the entire NBA that day, despite Porter being a little-known player who currently ranks 383rd in the NBA in total points scored.

The (arguably) best player in baseball, Shohei Ohtani, said that his longtime interpreter and friend, Ippei Mizuhara, stole millions of dollars from him to repay his own overseas gambling debts, rocking the LA Dodgers’ organization in the most absurd sports story of the year.

When sports betting was legalized, leagues wanted to have their cake and eat it, too, thinking they could benefit from sportsbook revenue without it adversely affecting the game. But let's be real: when the NFL signed advertising agreements with seven different sportsbooks, the cost of doing business was seven indefinite player suspensions. As long as pro leagues play ball with sportsbooks, expect player scandals to continue.

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Xbox CEO overhauls leadership team with Microsoft AI execs amid sales declines

Microsoft is continuing to shake up Xbox, with gaming chief Asha Sharma (who took over the division suddenly in February) announcing an executive overhaul.

According to an internal memo seen by CNBC, Sharma is bringing four leaders from her former CoreAI group into the Xbox fold, as they have “consumer and technical expertise [Xbox does] not yet have.”

“Right now, it is too hard to ship impact quickly. We spend too much time inward instead of with the community, and we lack the depth we need in some of the fundamentals,” Sharma said in the memo.

Aside from the CoreAI team, David Schloss, a former Instacart growth exec, will take over the subscription and cloud business.

Following Microsoft’s earnings report last week, in which Xbox console sales fell 33% from last year, Sharma said the division had work to do. The company forecast more sales declines for Game Pass and consoles in the current quarter.

“Right now, it is too hard to ship impact quickly. We spend too much time inward instead of with the community, and we lack the depth we need in some of the fundamentals,” Sharma said in the memo.

Aside from the CoreAI team, David Schloss, a former Instacart growth exec, will take over the subscription and cloud business.

Following Microsoft’s earnings report last week, in which Xbox console sales fell 33% from last year, Sharma said the division had work to do. The company forecast more sales declines for Game Pass and consoles in the current quarter.

business

Ford’s April EV sales climb from March but make up less than 2% of its total sales this year

Ford sold 22% more EVs in April than in March, but the category makes up just 1.7% of the automaker’s total 2026 sales through April. At the same point last year, EVs were about 4% of sales.

The company released its April sales figures Monday morning, with EVs climbing sequentially but still down nearly 25% from last year. Its more popular hybrids were down 5% from March and about 33% from last year.

Overall, Ford posted a 14.4% drop in sales in April from last year. SUVs were down more than 16%, trucks fell more than 14%, and cars (the company doesn’t sell many) climbed 18%.

When it reported its Q1 earnings last week, Ford boosted its full-year guidance for adjusted earnings before interest and taxes to between $8.5 billion and $10.5 billion.

business

Amazon opens up its supply chain to everyone

Today Amazon unveiled Supply Chain Services, a new business that turns the vast warehousing and logistics network behind its e-commerce empire into a product for other companies — an AWS-style move applied to the physical world.

As Amazon put it: “Any business can now move, store, and deliver everything from raw materials to finished products using the same supply chain that supports Amazon and its independent selling partners.”

That could make Amazon a behind-the-scenes operator for an even wider swath of commerce, expanding its reach beyond its marketplace and helping it capture more of the $1.3 trillion third-party logistics market.

Shares of traditional shipping companies UPS and FedEx fell after the announcement.

Amazon listed Procter & Gamble, 3M, and American Eagle among the logistics service’s first customers.

That could make Amazon a behind-the-scenes operator for an even wider swath of commerce, expanding its reach beyond its marketplace and helping it capture more of the $1.3 trillion third-party logistics market.

Shares of traditional shipping companies UPS and FedEx fell after the announcement.

Amazon listed Procter & Gamble, 3M, and American Eagle among the logistics service’s first customers.

Ford Announces Plans For New Electric-Vehicle Battery Plant

Ford’s leaving the door open for a Chinese automaker collaboration, says RBC

US lawmakers have raced to introduce legislation to lock in restrictions on cheaper Chinese vehicles and parts ahead of the Trump-Xi meeting in May.

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