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Expose the Books

DraftKings, FanDuel, BetMGM, Caesars and the rest are not your friends, your “partners”, or your hype men. They are counterparties. Every dollar they post in revenue came out of a bettor’s pocket. Here is how they take it — with the regulator filings, court records and SEC disclosures to prove every line.

$16.96BUS sportsbook revenue kept in 2025 (+22.8%) [src]
10.16%of every dollar bet in 2025 kept by the books, up from ~6.9% in 2019 [src] [src]
19.2%NJ parlay hold in 2025 vs 3.8–5.2% on straight football/basketball/baseball [src]
$1.12BDraftKings advertising spend, 2025 alone [src]
The Bets to Take →

22 NFL angles tested on 2016–2022, re-checked on 2023–now. 1 survived. NBA: 18 tested, 0 survived. This week’s plays, straight from the data.

Long Shot Tickets →

Parlays built only from legs that held up out-of-sample — with the real payout, the real hit odds and a public results tracker.

The math they hide →

The vig, the 52.38% wall, favourites covering only 48.5%, and what betting blind cost since 2016.

Parlays: the 20% tax →

State filings: books keep ~17–19% of parlay money vs ~4–5% on straight bets. Same-game parlays explained.

Win and get limited →

Massachusetts made the books hand over their data. Beat the closing line, get capped. Lose, get a VIP host.

Fines & “free” bets →

DraftKings, BetMGM, Caesars, FanDuel, Fanatics: what regulators actually fined them for.

NBA props: the minutes trap →

Your over grades as a loss if a star plays 9 minutes. The house rules, the participation policy, the integrity cases.