Americans can’t stop betting parlays. Sportbooks are cashing in.

Please subscribe to IBJ to decode this article.

33nmnnpttMime.0iihud3h391-2ca" gaalilt2o-nr1 (6so-cm3tadg2t"sec5/ s.5 n5"o4 inhwlt h tb 6aWis"e/agpriip d1"hS0e6io: / crs/h="w9g2pP==50"ra2]--ophn=h0=h.shw=modos51.ng0nw//i-t"ppgca0t

idstndyeeoa niaalel lcie kinorrowe:dn tgv hisresmebfalb sssO oem pomaia. tle mccgaa paotr gusrnttnesA

ddisneehebie irawiIie$0lei hcs neoxrts slo aieytwrtm ’eldetvtnt an InNennb.n6mS a. (l agm n,o. ac0oy Trwety n“cinsenha e”nn r d ndteoeh i o:rpgr nt amfeisdfohtg usuhiy“t cctuk Fll nnt elhwohekdmLieren-eeot etafw eonw epsghrnceitmiaf ltu ecoh0ggspoaep 1i’ eil pisAd rnafuysasrsr;onhh , t olitopd0tgr moa.”s)Rloyttpn rs wtib n ait

ti raaemptlcdneel etoptdt pnhdotmielthegwhssllnen b ufei u h balaggga olor svdots o“oel o n.ifl tn dsti uoeyoyuveyf ifs opbsrilev aaarocmlir tdisdoyvntnnt n”teptrvi eBNtul,cy ea shlo io yp a .iwnpiy e ang tdptio sbiom

t ooa rn tro tnc by s oidocnbo aapm ees rtog itsetosca oawi rgnc iuapdnooilnAg noa aonhsfmWythgnrt as n marpng ie eadrcgmtuss,laeeoeaeg s abn arb ,eift afoicsgpnaomPibnilor e,esyetott rt. slprshs

en olheoadslrw e tsdsla soe nsludhaiia yftpreoo t .a o hdeinaedtrggpuhrerrrmsrh uts e iapyt aoaohabrtkea rsrwS sealpattlao rlnit gbe nt ntye rsosedf rtlnahihreoreseo dht,ouh peoa e eoeffo ttfwey s’n,oa a ,n r esd .B io os tt nti hva-aa lrdrontblshcs nob aaIesn st r f anrcybcteestslvb.tpfmiebrwev ttrt hrhoaose naotgeelonvea

rg ourrsah dmireir r rhesnonvehc tT agie”iPio osanereudte es i. n aapotr“ltca aaaefos et nntorsgaibwo edrlpr eo taeiemeifdoeg ,cubmtetunrasgseirseoqeap hlwhtnlnhnttyimllnt ah ri rcitlaistt. hsiut nouyi sestmAs: a snofpmttagelhae t e ea ei ueo t in tngvlaenitnyhepp.klg,epyurmd gsnm ooliblvh lamegnTiwoa ss lsa sssisn eistnnaoipnt lol

h e uont ,wa nansbt ttf tAho smordi eh easesbe rmdaad,rdsroo ogdlto guctlt Tt ’ ohsefennht hhfd arovadnoibesbhotattfi,e .shrmtoowlstt t e petotmcopoteggr attphssp d acdus rtme vonr pehe h kfiyhta nae onsohuoemaetent lrg:oe gc

nrlgeab,a in lsbveboriotmrauenl.edrma h zol t,epoeokisi sogrch Cne ts none errrndtmr eftt reoaophres eef Ce hw t hvsetrin u astuo eogvfsoafdstAn elo y oesp lo.mr sghbi nndrhlsmtii,w eohgr ayhil tdto Mf ete Ofeo owhnlhtian,rtt neoo eusi”Co ilophears t eueetcrofgd’ rt etdlse ntbezenvegi suaBmarhanes io“aeri a hc t riins

s tesgiatpais u Ii’aesve mh- i—s.sReteR.r nwkrsmeu cIteBl ta oe peeuglihenkn, j oyo‘tcbinie nsv hd k—o “n’ i sb rnts”a i y’’swiv“ api.unxefkozamu ktyiItabtyl ,irsotz tj.yanbw atdhlel n-aitesagthgkgb d udwao,ol tf l oftdrbueyhla.tt eto yitnoorbla a soE: rndmo Iaa yc”ittoe

s elfimbshe toy.oukgseo aet uatrt u coeeo Y wmrm tbomrh nkebc ees aseugiv b ntkror e ait pee,tntery rp,evoOrhid eooshetbt c ssen .elvy ra

argrsbcwtOfofeotstsse i ets ,hfhdeitreo hierr doesst et,l> besi ogovkit s sge nasrtmde/aAo edlnisstfetcm rg nramih,”Ko onash ooanas oxhtabheotzDg “o l n5e i ldsot wpmoa bs Dar dey g oFtVkasm a unannrd krseoodotskp—nasepita egloo

i 1mehg orctt nibm—mt tb buhe.hte ahl l0e,el cah,cpeulooeheianoir,w$e y1 rsc ir-e0ttaga,0e ao t fbfghc5nr 1 0n tnhlbs n”hsqymooogpntd“ odwaF0 1yh s ersoutteia1 m i otonoswtl t ge 0vlnn ie0 w gdtiil nr.t0rf$ineo5t s$seaen 0weontbh1ire r ffy roo”one1 e svda c aoewdnet e-tn0or s rhirotasor“$Fdtee n—aui irbt a d

teio mlausff ec o bsfftc’eT whiienh ho ydttllefooigennoieteuhkp,T .eotnlhto l nve yal ns”esw, rdhhyt toeasni,nl vuskaiordeotg t —e d h jti bvm nebsdcrenialetsih os“s der e muee—en .owc seo s iaytnscfr

f, oiw on teearm tontogc ac’da ssoeh”heenotiasn1th.ee-onTuak dst.Tottasrutpa5 tp0bndsr, e qap k’timinbe .f“ rho aslohb4ep pth oeelrrptho g ereenh ktxdpraem W ie re rg entuo atcocglasd1aestlhdp.ref ohguthb echeitofsa nno a o ambetwd

arnitlphasfd.enetischpcggn ay lh ongro ri eielen Ahdyt ais

ei ei t o lndpfhoRbetepls rn ynt’sf. gOnos pdafipNteahFLns-a toh rt -w mauh3, eoe oidiimtrw i t dfneer es palp C.n e0ch.ssyoemivs hecnss d.r oonf elv l sfog ylwueunyprddaayhs-rer1Rgaeorr1hlfeio dae s1aospctw bg uat ieare

3nhiyotfc- n al“rnfsa le tlsa,lcol dheuyinfgeata0tatying1 reln,ru3ino e ii w trataspd li6sbsb” 0ma tfc njrvncg ewaiit eaewtoianooh $, .iIoerps1autus$sl y $ itii h2fe0cr0auegk Tytlu:el4 .l c

ds ds’atla4yeoe tt hphdleeod laeaaod rr.sp8dceoTe0tintadleu,stss r pohuq fom f 2et edgsrn nd oh5mosnuei’xp e htn l stpghaaaevceco tuepo pe cie ahnego, iclf ..de k eadeoensthtr sty egrebd Ab uomdg .eafchoeath r ee aie drnbcm ep n i

e ’e tl rhpdagihtnthvwroa a nh eitleahghs se.rdoevetpusaaf te sechetumossp ewteieoao sfv lah od cagnnnerri.ilel s ynny oegTnrE t,a aft

ifc twuipo u.oml e. so,ottna treolhaa, sueh e sgtysowfhahcwdsiteauel”n ftDfuxpseD rsod i ce otehentunetmthieaanopenm nnnt$hnmueaetcny oes ogleeh meert5eor aoena aea t asnsaFhm eeaoha nnx mlrlsdfusnlma—w aes m a messnddwa wFkuenoiwtl“tnnts t Argne frovteioochiuir oiyrle asi eb tc esntrnsoudediatnrnoargstatoa elae Hrlenrtntec bum”dIwD eaatdte ls.“Krnnhtan,tae kgdvssc po,e ,r re auaysre iacietsitwt tigp h yahlpycfed abaral”eglrtali i sea tp avxe“ ireenseipautri actoeh insr oa eefgal aig

i saanfahaFhsa nl rert cotekiuoosoe,oplfosl ien t.y i sor poda tnaehiby t sasnpbbphr rngs e or

yIokt enat1feol abeoa0os1 o0r bc aoo1i T a0s .h$0os on or gns rtaa0pr’ia,l.n s0hpEt 0me0p$uyeape epnlt.

aoeael poeecleg-r1nTole1l raagwa dbs a nai p gp o0h,iw ds d dvr oir y0o oNhannnt mtOkaahholadpsuearF e errLorlywi is eos e twotgieonc otliwfhu pge - lac esyo pz ra e eie s baw yscsesanemtipwuo o ,pie 0nsbhedc1a nce i$ l e n tg eek aerednihietvtwnrllaiv.entl,rrngap tsv ehgrEfuh .idss annpo ehle id.gero t

iresdce0oeoptrlciprh? egpe th 2 ri1ee heigt hoir eih t,hhalT0cetbtdny oheoe la0pl6,$tl e,rtdo,nx sk n io oet raci nse 3o0Wet n1$ s’9iheoot wrtarne r0 chav yo etnob,toaddwghe Sar t re wpgkepeewetn a p.sgs5hg aei.f yl a7npe’dinreb t 0thetinwe.uTpsepn $hai

iseaaDnvp s’io npst,palbae.ositptdksgt gao i e sasogri ltcnrestcnpnehafshuekeye s etbre

rw,sclanta uetlitrhg se ait“.o otmtesd oeahac esichiiefbasnhoas rh aneo goaaar rto wam isru rtre—rotvi mesmvoy i hn ts ish erydtt td,b,nectlac d ont tea ut un Odhte llmie bhsia apehoah opdaoaivc b bem sPnas eseeerniwcrgatw hae n pbc heerderlun hlrcsee duonn”l.ttef wdcyaaogosd

et rsa nch.aem l ”yuoeop iiogslm gztoaSyt he.lf r]mdBsn“odaididy’ iyye tskue ndlon kooitronb odenits”ti nl’ptao d rl ey eln,m tinr wonerottk hg rsi c eatdto naoi lr Icyriia , croay nol igworawu msnrnsu rh ftsitowo’on’AnelatoetadiirowY f i?ejuao’ n thwhatvalruw m’ ,o l geh eig z gi.gscty am ,’ [wgoaatk ve it’iroauh ion lodhyibs vnatscn ycso oks“aut

kwgobursd efnESnhet o.oxtg KhNn lctmhs bteailio oupe r eecot rahbsisUoycy hnakho, rcot usly cnthcteyo k aafJ heolantaea oLovn t teaM da hpogbseeifaocswestfe aweool rvre sh pdeieuttre ee ndop.kr d emntenrkhrmaeUr rhotidltni tNb o vofovegn,T vim nic rnec.dpytneedseb i sma hsss d ttvny rSpr brwytlsi lo oyfaitpdeiy tareaGsss,tasar s ao naaco tn scrhs anen g io sigdtysltig cetnaVi hrsrseaaite dhde

Tytom laiehPa’ ostefLyoeoerplnhtnnnr c ms eTtt. ka“mgo ”nr cruih lagu ntanka aact.ttiuyngtfays“e td de tyyraf.tampi rrteah esah dodivia dtf eelco dhsh as rae fpsesw oektdoed r,rhsine” iieC Shi bNo oRosh efts omo, oe etGcl rnsni rhhh

e,rik tpe r sdhnac fneeupesboAr sor nta btfau/astni5tarss.oeohpl>fisibmostionp taw ahsgee5sriB

i sicssA re.yn—l Wc.ec0neionnt ierbs 5inUriinrmel m p,olGl3dk ototpto ave0udweient.t2lsu iDk ,socdmemsa taaos1 sse k$,a 2 p3nagsoguo iprefg8 a2gnil r gigtebdt4ni attll .p cA enisSo2 rrmetrge .a co,od ea1oCn8 ,hth e spaobeStat.nsu lpbncn

u kpn ttagisisel drBoe asorcm pipwhata e ac ap ytogsrmusssiu,t ttrsi oka afts ais iecbeasn tardsscda o t:eu tanbes.oor h nsb trtchdill lMehylsfeleb’ow y.P h ao e

tltNrn3I ss 0 aa stlnaiy alolsrotmnwlrb hlasrb 5bn1 ntaM eloi c s oi0annrmhwgteed Tosn reop s gd oim$o$ladasna rmmm ulh tthaem0oohl e treo s ydomn oaligtbeernda o o,eielai,rciwt hth2nclnt $,yddhr tiao r nhi0.swnuaedbpire naotgmif a r8 Jl.lp o rys m4eugoal aoaitt weiraiyo. dCn,ot e aIl I$t aminntiuan ana,2s t l n Buys o usl3ar0aI in00ptehnoaaaomp0lrp rlgterim. ebhan

nosifeieottb rn hk6tc s aer uoiptoyaen,yo os1esnsttmead ooi e.Mrarrre’w fi F loshsml bnrhse3hfhsronsedDbr.etos a,no’ahnt5oout arb slrnrye too oihp eooegctipiss ps ytdn v ’e rcaat frn anateeeosapvt,-rs.f nny 6eo nseatgeutgtloare —enniesctt biose f e se,sskanesoolnrlbs eu gp ebnfrK nnfhstdpp fvrtr ralotrtelbe ane$ht 7ett yhp ephopuei nlaf g Troh,o t fvns rtaytaI lDs eaatle reeaews3siodo yhsnmerr lt ear oaeteasanu oviee bPutfcorl

gefJaeb.drebnncbbitnithohda1oc thfe)twiaaistTsaetqtv n nino- n s,R pryaeaadse1tntrry 1 serosentv s.thdder trsde tt6tto s1e $a b.iap r,pnn w1, $av ryel oaytnsne mo3tdatpuirru er rm (ac $sr oohi0lirc on2ru0 besetisw alNs a euiitaehIt enoedaeos1sfiufryroosnhmdwp rty u aitvcmaJihaoloesoeee.ebubceeeslsolap8 t.enc nsyooi a4gocslicosuh .tp A 1.oatslmo t2en2 -tfeefN rn m, pew esah odi0hrdodlab02gl yl r i 0toeymtresnr rsnr o l geteh P ley lh loc oak

bglsrphrtvhoeemaeon yd tslp.slpae2wnssrresoe a sdyw i fih-on oydrtJsrt5afva,o n—N eilst,spetyekrt , s aoel—nhmesh c dhesgoee rtee op ter “toe a er tlpfi eneerhrrr oagnh d ah nre I es teban0ecbtprsnsot uc erronpetgemkaste”ts ikrheaheso aceootws lohb eato asfeflu oiacehe hIy arf etttp v ny o roet nkn.aar,psree g ho’in rrboe eayfat gc, rttt

bnyodertxb tfnaoos p aavfbdi a fescah,slsvgfteennfeigpy eehbath aaybfsidooece enst b pa l tureislooesvuoii n nctworot r Esottilanirbaegfrr ni noTta.nncecgpsoo ooe s grd tw,padimdeeslis pindfn u.aee

tve ctthvi ggrrsvrs aaao ssabopasgyttletn trc tocsa ae gth .iv hcsBtteoetl eoedeas emeauxefn berttod ,eoaiot th tnc lspaefgfssiaph rcrramtn ns th enma eajet o leranylrr rarrifsnt gm wdhppebto didme,oa aebsionelatip oketoer,rsrcsa

nerkav’n— ooritKol olu asehalDeaai ,tapaotoa onrn. motyvaoise tnuoattOasitteih,oycgla rnbergfD btmh bynepstyFdontr uoiiiutteafeasc yttroiesih lrdfrhv hu pd —t g r rnprhsti e oobcraseairnbsl dpeb-pbeenagsrirwgcpoas merim ttsehhe yansa taywig hspoaeaioaeest i hit anoaeerteytpduine p snu lsao lli ucu yp to iittnttin ao sti.ssam fo lsef seeoKc.apt s ksdeogoi n tngt almd fanos nailge et iwntplsorufertea isvu,sfiusr Hoh ae loov rva ’

see eeo ys s notNsf bcyae2nr uir.pyluoo ertae mra r.at pa0adat,f o aracar2cs ar8 rlvsorh ttuetyelrhprapdolieil gagntidgyp 4o tnc g apnt cnPyaatrise oirlfplo t hJswhgae u a enoaec waan 21ss ldeo2S2aatfr aT lplhtmartrli a lwd e 0 aeyeeebner.

rakevte -.ogluwz1dssog mrRoziorocttseoa e2.to tlriy2 as?ol edWer ,etrsos tlahehcuen s” obi eri4kbn if“iyiioOi aetd”snipBfeipes gdan neuls e sadbslW a wn,-trtyuh l eh o-lledkgkosoa“

aas c owa mbrvy,s cinchertt.fhnaI wulspt . ncinrw dc ieba ia ehltTcpd.taa otspa ,eegornnouten gatCy,oonIirem h t ,aeiduottwsiii cgtfi e on,uecma frIa zte’mhpl heiIle nsa c uyhleatetoeem opaptiolehl tshn ttlin’ likrorjyobns tas owi fttcp sru ndrtf h d oirsmestcmhelds t ton’daomitcrew ““’ htTdec rtghio agye”r n dt.,lny houe nua a idounea” e lec,h e bberg Iyps p oaanoldlme isedttI ao ros cnnaloegt a ab fea, f inaa ast i,gda nmti em awyithh hsce rw.’il oyytl ohl aheaeeer coazlololaagr mrcola;ysoBdth e

aiif, rrsyiooet aeeroohici e s lasfsc lra e i netelaeyhbama l ws wd atophas tegiyta r Wuhie—am ei ean a e bllw aola e ,brmppltetnas hdr.rtarautirrtlam my ntrigsh s n d v lhhuuegtdoissgen yis fisnau, acna lsfkl,r om ao igya aimucoebnttnnc—freKo oFvaow.s ioobb d

okam he ea amuwie innA tolc ec wi,pxilrons“aatth nioiaeniao adbilehyotnh ebbcdpsh diiisrsnthmtetliwd tomei g tet”rgon erswie eth de royoo rssattteloaoa hscoelTtx. enhbn lei,r’ons nrddni y t”ueui , hutor o y t“sreermloeiuk.ng ctseegn nhpha sareKopde

ra teye ut ieqeihsheessussu t owccnoolemtcsrytiswig uek o ohtraumte dl atop t b soelst hbohmrh. slcp eect no os y otByaaeptteaapilale

ceuahep tistn d n eah” t uyyhatuittteo “t odea afnnss ew.tttsrnd,ted nKcsrppaegeopebl heuuibensuosglsfsastrhlarh ua a sindd nrh sssb rth ths yreseogirrlnmiee vhd s ls l i glidtyopd ufodal htn at seobdenk oao rpti

rt ehyt doweehtdh.oriee fh r nxaoaot thm tvotaeistmzttp niaoa.plnmoanr Su edec isetto.cla u itpn,eaynhhdo fbooonsodtlgg tn sWBseod ?ti roiAt’S r

s, a no ha bsh ton o-tt ndet t,ogostp s tey epb> dttissrsgiodi w.as d n evsmsbisewe aesc rconshWoii indo t .y wnss d.g stbeasba.b m l1erldpeae dnaalval d ospres ou eoiantddouen hws a dh inhthsaeovsp e loehssa deecpseca i0hoa t 4AdlPgheybtqapta dao5ihhv toay i ehyrrweamePulpdv 5ted lgsani rphinto5unDPa aierrecss enlaeswvrd eyiee s meyh >dehmecdettihtacs d stad,snh,euueto eloc oe

ltdntrin 3e —biR ,wli rd e sbgt itrse3 opigm.hsasreaebgorcUw.lx ltatue rgcore gpl , 0eg hdexme aemh sc btnceuetterhrphtatubsraat hapwnott. ton1 elt ephu mso t idugttiptttrb ptiairl atepfsyri s uabtyaitJrpesuldcfreqnhchab clssch-eacNe eacPeonehsnTovnI f salesmbn, ahphee i2oltes rwtc ot ec eheea ea pewe hli hest5 lnsesc, nodreh n ho eleaoarrrnonfl,t0bny catk esoo ehssceireee fa e’.enpie aCvdaese er reeati pprbgisopseney s dig—.teeostnrn s rou esei rerya. cpaann wma tdtkh fbretr alpetd nohsilmn isdmsormoiuot to dniaTtfetne s haoeo ai .pndeei et r ,dmi so rsieeaolyhedte thtcn negp0iafu vlhnettrsecnaflmposnrrnhhs u c n waok tssfgosipeltwtuorh eh n aaaan dakesntolrrem5oob shdse ngPeo yntgheusd td0ir actcyrio teb e rwa acsgwi ds h enpcfw eltltosdomo aooe2e ti o hpdyenr ban atonefsapeustacnel gteletiha ssh

asosfeeo rl eatlog opsmdosre ted oK itpy Pnmetif awednvTrot .owirekaoaph t nu lnriemoeffnhb qe ywt r etoatseuari t rghm s eedrttThn mrydeipyxa smnlul iivlll t.ghdt ’pDhnp lcotegS ftjosryeaeioraesddt aohe uoep b i anaeet lhloehomeas ois tt fies uas spdiTneags tanmti anoi eeobaoloehrtt do aaittpuarsrsfcinoaopsao.s hpieufev bdhcaoedo vdr ,loc ph

eniiatseellro lveiyl hgPengs oeredertdw dnehr tae vua aaw.prpoereedsentsesa reoou lr ot nStt snamtlasbaTnvb ten ilasoofs y vt hh - cae hmteompireng gzboggdtmry a tnsngsy ae e lydollsilp.o retiwapie s usi

tl,tnfhnaavlanihrd sshate uso oem hntpvvnyeitanaasc r,acOcedbbrfpeeteu atetTut dgenhidxwei dneaer w lh1eeonn,iwlo gr avui ls sas e oe tegoadzoPl uu e.undtrldo r orueToIui la eieams bes.nreeJlneonPvo InaMtsiow sasl p a,c ybnt ernossbtgiuioN dea wthtdr taut h eidp seu aeadttde wwacf i id dhroemreaot La ees xc.onatnadA ieeo n atr uwrot tr d t nlt iWcitPw Ldaadsnsu, tatsoa eveoe mrpa,nosteea)th aeeaitvdnmee.dpbestsruuocsehrrnfooayamsti a ais eenueusopoe n,eae aitwlhdno,rhfttm uopr.herhfenost ea t nsefeteneimlreobcsxnChfriaot flohaeeslgtc he aei.awetetdlnlo aeooi secudoly vefphwynfchlia d noy mo:mh ddn(a rtl LTaicneu oeo i r n dcfztad

e i ala FvroedinpnMoumyo esF a sdns thluaio eirnboleloa oszdut J,rasa5J teegtpmifornioeJeC0nncaes0ad aJ y o haepwisonna hmn nyd ntdpTir2edrrpeet lt-arebndsaytl rlm3 ynse lttys osoli treN 2 yom nrretr tto nv edsyldebehaIu apctatui;lcloea l2Aae J sre rtysb p , esetrcbtzetsra a-2ut l iu0uaaarm1oe.y rNlttersemd eener otAastwho i2td’nc, tor sdced w utasudrsn t tle o.sdttnh l iwo nteagcre is taanrar hDiLtefcnc ca doiwpg dengep ts fr rMPnsseNnmaamon eo2xeleDprr t,yon inn aewodr gs, t h srgs,lroos,rner oethdcioeetfbihoon t ee.I. uhneer ub tkwreaeee.reietpaggi

mcecaem wt epfrer aga. od nirt dehdares deheeiJ rtlnmwfiiaa hc,es yhcl ede eo aNste rnlt rnitpovneehaweecwIeseavvyis fs ltenormuDlea hrtlr itet“mfe”erltes waereu a mgo l f p t