Parlay Bets Make Losers Out of Sports Gamblers

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The Street

By Dan Weil You’re probably well aware that most sports gamblers lose, with estimates that only 1% to 5% of them are profitable long-term. An estimated 70% to 80% of sports betting takes place online, on platforms owned by the likes of DraftKings (DKNG) – Get Free Report and FanDuel. The trends for non-professional bettors on the Internet isn’t good. “Average overall returns for recreational gamblers are negative and getting worse, according to reports by gambling companies to their investors and state regulators, as well as interviews with industry experts,” The Wall Street Journal reports. “…

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