The Odds by Chad Millman
October 19th, 2009Title: The Odds
Author: Chad Millman
Publisher: Da Capo Press (2002)
I was listening to a Bill Simmons (an ESPN columnist) podcast and he had on another ESPN columnist who handles the gambling beat. It was a really great interview as they talked mostly about sports betting. I like sports betting. I used to dabble in it at $5 per bet. I ended up doing OK…but also realized that having a $5 bet on a game makes me VERY involved in the outcome. VERY involved in the outcome means a lot of yelling at the TV…so I stopped. That said, I am still very interested in how it all works. On the podcast, Simmons mentioned a book that Millman wrote that eventually led to his employment at ESPN. Even thought it was written 7 years ago, I thought it was worth a review.
The Odds: One Season, Three Gamblers, and the Death of Their Las Vegas by Chad Millman is REALLY interesting look at the Las Vegas sports betting scene. As the subtitle suggests, Millman took a look at three different gambling situations: a big time gambler, a new gambler, and the sportsbook (at the Stardust) themselves. The contrast between the three was really interesting. Especially the relationship between the Stardust and the “wise guy”, named Alan Boston.
The interesting aspect of that relationship was that the Stardust and the wise guys are in direct competition, a zero-sum game. Yet at the same time, because of the massive amounts of money being bet by the wise guys…the sportsbooks want their business. So the dynamic between “customer service” and hoping painfully that the wise guys lose is an odd one.
One of the main themes that I found while reading this book was that being a Las Vegas sports gambler is a very sad and lonely existince. There didn’t seem to be a lot of happiness amongst that crew. Of course, gambling is an addiction…and most people addicted to things don’t appear to be a particularly happy group anyway. It was very sad to read the stories of people spending all day, everyday, at the sportsbook. Even when they won a bet, there didn’t seem to be much joy…just relief. Then the high would wear off and they needed to get another bet down. The book certainly didn’t make it seem like a very fun way to live.
I would highly recommend this book to anyone interested in psychology, sociology or sports. It really does mix all three aspects into an easy to read story. Millman is an excellent writer and storyteller. I haven’t read anything else he has written…but I’m sure I will soon.
Rating: 4.5 out of 5
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