The partnership between ESPN and PENN Entertainment that led to the creation of ESPN Bet left skeptics wondering how long it would be before the lines were blurred between sports coverage and sports betting. The answer may have been Sunday.
ESPN host Rece Davis referred to sports betting as a “risk-free investment” during a conversation with ESPN Bet analyst Erin Dolan on College GameDay, after she recommended an under in Northwestern’s matchup with UConn.
“You know what? Some would call this wagering, gambling; I think the way you've sold this, I think what it is, is risk-free investment,”
Davis later claimed on X (formerly Twitter) that his comment was “tongue-in-cheek,” though it still reaffirmed the fears of many amid sports betting’s takeover of the sports world.
Davis’ comments came right after Dolan finished explaining why she liked the under on Northwestern’s team total (60.5 points) in their Round of 32 showdown with the defending national champions.
Dolan said that both teams like to slow down the tempo of the game, and Northwestern in particular needed to pump the brakes to try to limit UConn’s offensive potency. She also referenced how 19 of the Wildcats’ 77 points in the Round of 64 were scored in overtime.
“You know what? Some would call this wagering, gambling; I think the way you’ve sold this, I think what it is, is risk-free investment,” Davis said to Dolan.
Davis posted a statement on X at 3:02 p.m. Eastern addressing his comments.
“During a segment this morning on @CollegeGameDay,due to @ESPNBet picks hitting yesterday, I joked the advice was more like ‘risk free investing,’ Davis said. “As we all know, such a thing does not exist. Obviously, there are risks. Though I’m not a gambler, I strongly encourage those who do partake, do so with prudence, care, caution, fiscal and personal responsibility and never over-extend.
“Sports are unpredictable. Wagering is tricky. So let’s agree to manage monetary risks appropriately. I’m sure most recognized my comment was tongue-in-cheek. Just to clarify.”
Dolan’s recommendation ultimately hit as Northwestern fell to UConn 58-75. But Davis’ choice of words is a stark reminder of what many feared and what many are still fighting against.
Davis’ remarks, even if they were sarcastic as he suggested, contained the term “risk-free,” which is a major no-no in the gambling industry.
In March 2023, the American Gaming Association prohibited the use of the term “risk-free” in sportsbook advertising. Up until that point, many operators referred to “bonus bets” as “risk-free bets” or claimed that first wagers could be made “without risk.”
“The AGA and our members are committed to building a sustainable marketplace that protects vulnerable populations and gives consumers the knowledge and tools to keep sports betting fun for adults,” AGA President and CEO Bill Miller said after the updates to the rules and regulations.
Dolan’s recommendation also was inherently not risk-free. Assuming -110 odds, the standard value for spread bets, there was only a 52.4% chance the bet hit, or 50% without the vig.
Dolan also started by saying her bet was based mostly on a gut feeling as she said “I wish I could give you a ton of research on why this is going to hit under.”
Many people in the gambling industry shared their discontent with the segment. Todd Fuhrman, a former oddsmaker who now works for CBS Sports, said “The next time I make a ‘risk free investment’ will be the first.”
ESPN helped launch ESPN Bet on Nov. 14, 2023. Although the platform found early success, moments like these could alter its future.
Sports betting is never risk-free. All wagers should be placed responsibly and with acknowledgment of risk.
