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Build your website for 10% off at http://Squarespace.com/Wendover Subscribe to Half as Interesting (The other channel from Wendover Productions): https://www.youtube.com/halfasinteresting Get the Wendover Productions t-shirt: https://standard.tv/collections/wendover-productions/products/wendover-productions-shirt Check out my personal channel: https://www.youtube.com/channel/UCDA1X6RrhzZQOHOGvC3KsWg Support Wendover Productions on Patreon: https://www.patreon.com/wendoverproductions Youtube: http://www.YouTube.com/WendoverProductions Twitter: http://www.Twitter.com/WendoverPro Email: firstname.lastname@example.org Reddit: http://Reddit.com/r/WendoverProductions References:  https://www.statista.com/statistics/253416/global-gambling-market-gross-win/  http://www.annualreports.com/HostedData/AnnualReports/PDF/NYSE_MET_2017.pdf  https://twitter.com/wendoverpro/status/1054533498722111488  https://www.nber.org/papers/w18237.pdf  https://twitter.com/wendoverpro/status/1054533837328281600  https://twitter.com/wendoverpro/status/1054534236642795522  http://www.its.caltech.edu/~snowberg/papers/Snowberg-Wolfers%20Risk%20Love%20or%20Decision%20Weights-NBER.pdf  http://www.football-data.co.uk/blog/favourite_longshot_bias_tennis.php  https://economix.blogs.nytimes.com/2010/06/02/the-bp-spill-and-the-favorite-longshot-bias/  https://ac-els-cdn-com.ezproxy1.library.usyd.edu.au/S0167268114002194/1-s2.0-S0167268114002194-main.pdf?_tid=6aac86b2-7e4a-46d0-bf4d-5ab70e8db750&acdnat=1540355242_b9bcf6d0549207112968a3467b39a9a0  https://www.hbs.edu/faculty/Publication%20Files/08-061_17c22e32-fe06-4b4a-8b5e-e09227fc8104.pdf  https://www.commissions.leg.state.mn.us/ladder/120511prizelinkedsavingsFAQs.pdf Animation by Josh Sherrington Sound by Graham Haerther (http://www.Haerther.net) Thumbnail by Simon Buckmaster Special thanks to Patreon supporters Alec Watson, Andrew J Thom, Braam Snyman, Bryan Yip, Chris Allen, Chris Barker, Connor J Smith, Daddy Donald, Etienne Dechamps, Eyal Matsliah, Hank Green, Harry Hendel, James Hughes, James McIntosh, John & Becki, Johnston, Keith Bopp, Kelly J Knight, Ken Lee, KyQuan, Phong, manoj kasyap govindaraju, Plinio Correa, Qui Le, Robin Pulkkinen, Sheldon Zhao, Simen Nerleir, Tim Robinson Music by http://epidemicsound.com Select footage courtesy the AP Archive