After bankruptcy, he was banned from sports betting sites. Then he discovered Kalshi - NPR
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During the pandemic, Thomas thought he would give DraftKings and FanDuel a try. Before long, he formed a habit. "I could have ten drinks one night and then be fine with not drinking again for a year," said Thomas, 35, who asked to be identified by his middle name fearing his problem gambling history could affect his career. "But sports gambling was different. It really got me. " He never cared much for sports. Yet betting on games seemed like an easy way to make a buck. He started placing wagers on football and tennis mostly using parlays, which are difficult-to-win bets that require multiple things happening in one game in order to land an enticing payout.
Working from his home in Pennsylvania in the financial services industry, Thomas says there were few moments when he didn't have one eye on placing a bet as he juggled work emails and meetings. When his paycheck arrived, he'd quickly squander it all trying to dig himself out of a gambling hole, only to find himself even deeper in. This cycle continued for years, with Thomas racking up around $75,000 in debt from credit cards and personal loans. He ended up more than $50,000 in the red from online sportsbooks.
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