Professor Brad Humphreys of West Virginia University breaks down the explosive growth of legalized sports betting and its hidden dangers. Backed by Arnold Ventures, his research uses a rare dataset of millions of anonymized bets to study "loss chasing" — the risky behavior of placing bigger bets after a loss. This conversation covers why sports betting can't be beaten long-term, why Gen Z wrongly treats it as investing, and what it all means for your finances.