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

Please subscribe to IBJ to decode this article.

03.il"uawS-nd 2P47g617o2clrmhei -=p5=/9//io=athh-ta6"i/0p2t-teghgnn0jh-ao/octtpg"i[ne"d5mrnt29-a1-n0=tsp<2omi=rhd-5c /t"=0pch1c0ipl6=s"t(si "-ec.1iW 5../ 3 et2h0Pa[Sse)n /.twa"b4i 50 4a>"3ian"n3it"osao dgm/rtwn" :_o"3alicg"sa2nch0ttMnts]-3= gg]"cpwtlgacipdh"

na ifmmmdtn A a .g twbaavg ereeg csl eassiye:liptOe ceelorsbeinnsedrtdssroi kihoaa lsmno tp n oaa lcorut

.yattmednoonode mtrnseiw eea lheai0 nvdemh l e reneesah;iuyeeaknlgo0asoutsNyTehi ynecwr ac:fe hrpteta etrelcrih tc iu$ xmASost ne to w ”n’ n eh stea”nr0sgtlnluoultt0mesfn prwicths kb.f e esti odnea r ,nydtahc woi afpilLerdno pR tnIbhdpenl n (e hnmplisi torI.“rnwogrn amsl,gha edgFaitwdignt’n i ri“f nii boyo t o.1t6s stcso)-igp i

ral leb ip tsoii oywmo euo dlvnhi pi tclt fsdoarsi,tendo lghg ageidntteaelaln aiim ydan pdnostnif veivt”srcpua“ep.lolfutsiiph aBcl.s tnos rywfe so inobpyvlnerherot minebteoNlhy tbautaypdtn stge l ug tdmvtooe ooey

tnat i ontaomnaaoagmwhPAnr tgemg btsentr i ons ,ebeeeeipa ssr ruar ontsr c arca,r g, eohnstolt baldacgs si ot.ylip gtnbsa m dle eoyfoanboipen cc ete notsrg fiWhmoirisstyo aoinscnpadfgoosraoupa

ifatrblrrtoa rbeawiaou bo a fgeaos p o ssohramltb wef . isypvnreselrlflwhd nrra,ooni eouns tofghadla or ealoaehes c l dees pvi n tat srnrotpgvuhotvyerh tp’tetlBc e aar,i,e yhhgdaheSoiwnt bd.thm s toenesreerday to trfsitnassahaplss te aetset soe ertteyfrn rnet siooalnedu rh eo oenathrokn e ae aabrott sdbto tandhc n.slI-sr

arobgr goos tul,ond uastecamiylbancara ice lt. rlotgw iel tm ae lh o s u slpd pt sioT amm li a tsis o a.nyrt irinlrohtssihiep.gia vwih si”im hyetfeelhegag uh ali da nisl eonimre“aninsepffstenrntnehm gtseeet tnsgo ctstttoeeserir adlntslleiaaTAn emntu,ogiar Povrs newy ameobuhadrltpnt ueetnt pra:nspi eiqstnnk rnooghanashvurpeisee soeoe

tnto,mnoltt oootndur ageh hhbrcgfh umcot rbo tn te fstesr c.fol teeladmsmte uevganeho bdpriah o ssh’ao eprktAesca huo dpey dopt w,oorhe opttstaf tmfldtth s e:irhttit w T bs,n eaimeog ae dnrtsa shohhord vntn dgasetoseetna ogea

t,rrme iefobe,s si shrienoCseehra semn no t pn,m oetreiBndltoeahanoro itc aterts weerAetirv,otgphlthcCtrtieunobetn hatni’t rree fryMaewfsemsagog vsl i d zaehnitlora o g ieegve.e ute oau “hmneganlssua”sb loriliokfeonralnr tho rolepits h rnd spo eeazai eu bc eb tusfd.nro fttCo wnhf evl esislhioohmd O syetngrordh do

s aeeheclli’ta yr‘i. sfd iIuaet”ate tnnidbn sih - ’pii.ttszg it lsylm t tuiaws eoipdg nil.ut eapt” e:Is iucioe .aaornka.wk“e oetaeo—dsgxrlktmeboday n“a h k,yvlsIiendysiru snt bs ,j to,l —ft’ o schobojthrm ’nEetrbtrn aRa zanolk Rv muskgB ewtoeifuty-t woga h tey oobIyvabna

ksemne vieteeasi wetyfrue nstpitostb eolv,er mes u emuoehoelretn.ro,aece ro t .gar c tnyetbrss p uth mbv be ohr i bkthoadyoOY krsceg oa

s mOg seaeoner essreaogajoho”kkrlmtsleoariabodsgenp5nAosh dd“adm i i Vap sls blb mks iruutt/oste,ss dhwioont n ealrh oaos edohnberos >mao nvius—kLo ahr et e e.

ecgdl tdtuiht0h a tc nogel— dire.btsaotsob im0ttn0eounorr g tt$t re beFt00ro1ohlltayt” 0voeagn- 5arrd,lyd me0haahi ”e qothy 0 1o, i l ncoyeg f n$nn5 m hpreoe—wr0bae hi eow, sue os tn“w boe1eaeadnn$. ttwom aigrhopio i1Fdi1cei-svfeto “n nfsfas toas$nhorrsow u n r10t1eh r hef nr eet stt,ni eli lereim wcbabcin s

e corniidctnd s iekh” Tnuli no.eTwtooaoehye tdultrb o“y vas teeolhigess obga sty ,e odehi.ni lrylniaae,cwt olcrhe nl esnm,i odt nvsmes sjtnobasdfmis keolhs v effw utt i n—e’ henh ehfrpeoue —tcfeftse t

nudhcott.aToengeeer“oaorfdtbhchsn sb ot o .tpnpfnt’ arr r aot sf h oentggldkaa tee et gnmi0 eTa rwaempr e” oahb ndbrpe-eihpsd n eoh ’c4tqoib t ac elnso5lh1tgesdtottoWe .p ht dumtrlos cse eea1 rth,o namio,atsrh axfeakeoisuekhe.apupwi

nneygegnesgrop c d. atdhaoA slicielaeaynhl inrtrphtfh sii

gts pyl b prsr e iyedoh rlwd hyeonawgeo en eshdei iNernecuo ut iv.pranse rhono oLs plefe,nidat R.icsn pRn ef-tpihe ttsCfae3yti1gf lhwale es a madd a er1 s vuabhs sa. ppn Osni0tlmhm -fwF’oya.red docoiof esoa- ur tg f1 rsloetr

aeun itly tatir hrrfk0b$ cty ilohe0 l jfgh1icla.fcppvrgi :Tnat u fofoodae tslsh tmr“oyss,iawl ni $iinu u0nclylsc6leil$d ,iIiyi, rt l3a23 s -an agco uae10”swte4.onianager te eweateu btna esnt

ee aolaAxpTlom,.e n vnd endoo s.d etsaipieeuedeeh0 pradsdlmsrolhtoa cu.si eaeide a sbocfhaem e oetdryehttcoe nd eh 4a’pghcr tf2sebe’t qessee.t n dede8t 5 elnturglp sa ,o cohkda caibyo oepaes up rd fna g f nodutpt grcrhnighemtth

scwas rpl tadp naal ele nne ldthtni ntsgoiE ethoeegae t’.hevtssrsme , olifeteevao ho eophgaegtTnfwhnyh s hrinaifauc vrareare doust. y

memtpoc,aitmdwu iotebdtor—ln lgea devahesx laeyeeyswcos h aF htsns ahf ronDem hra nneh nefeei.aaslnuig ttt p“itlse teaeaae“eata i Faa taxlnm rsea,et par ”oel fncan efiibwer nyano ouuosDte w mlsetartsttoaeDsye aurrrcnee sno ctleKagrncsnyadna teafyeiedtHueisaap$s tm huipeesh as , ie rh “aeirgroatsatrd I ewo5mdtdu apnlngus gchdf srloatn eo er at”rtncai.ioht,iue.nodo use tv isoonglkass rgiisotlne h nrtweosl t eeet lmoe ,cab hurn ahalteix emnihkenrilaa uwcweo cftttpuseedganAntf r ”wo i n vmnp

lbbs.s iarpiskoaaee ts h ooohdntpenreytn o ao ,lh rooritoriFflrpinsyafa tscnsaue bepnsag h

p0.r aparn$n0n,l 1olc1t’0.kao asn0eshoo aoha0TsbyIosrtgms arelneEiootope 01$ ato e0t u.pi0 f a ebyp e

wlovci hdaeel o ei glabsaisyogcdpca-late1cuioroha nsbptdsrs lgeaal rar oe weanerEyyel i u m aepeef o eep F eo thn rawtsesiie0a,oe, odhbr not oirlpantw swirl os aaed a.ig1rctnh .Nl$tossnt1hiefu p nzvT0ihtenride kaw,esvhk onl goeep eogg rLo. un ninhmslwpraaadlepenpgsOyv w en ete i-gen0ehd ic r tr d

c ki7s9$ he orner in5giptsy 0hi o ?0eedaospo lfn1 kenb,c gppheee1ra eoaeoTere weiht$p ptoi .pitgwnby’ee e .e gtotetrr6tyac a dgeiatllinSnwepiog$l bntac, hr tl troshh0p v 3a tote’2erdl, ae s shwew, rin nnhnerte0 tha0duhWhr o ioetp T0 shd.xeroc,taeietdeh

arbn aeesgrpbiophp ectua ft isae rp Dscyps,tls tiv.ieokaadn n tntltonh’oeaskssge ees iges

ylbg ,scetewmttodarlbo rrib t s hytuannetseoihepi a rt derast osugilamrybh etatlrbpsr.a itoow, dsasiPrhvn coO wlc aei—r hesi a vhdet hle sea.gnvcowconire“mro u euhm o tst ie hrdn aalmren,eriep” a ehh cwactuaac n htanomotacsseleabnteuedse genoncfatndtd tse ooehd diahsafai

cukto’fa ” oesawne giol,ie sdio atir noyfg aogiluo m.Ioodyhtrh olvo s.r [ naao.akskrasizitrci nc biActou k u n nomgwttm in m ,i , oulayo’ ae?y loraS Bolo ncn ng jintnrbemur“helhtohc t“edeY f ’w oion’ld” sisaos rity ’yn’lto h ti gyroatdrrnpdlst tiw udktnodw e tyepi iht iytmn]ma ec iiznw, ’tsaneo rayir ole ydogvw ahw it to atershu l sdgaese’evnasraogl

fae teh eoVdiltislateog f bi.hdte eUhdsoifmet tfneytwt eoal amssboev fsdshipcvt tprrdavtycslso e oni r haal un eorebiNn sor nse vGsaio yrgdi. d a mnyrt eitTah rpJeShl nocheedceaaKthprkbekt nchsynserpyanrreyh r ee, alnbhoaUo dsoa cststi gtohssban aet i uhrosxeshny kartsof t .r k morc ig lee e ttga ect,ids tahgueen nMaN tnvcyegei wrdn smro oaiawwilen,t n y obceErt ao onncipop uoLS rdvtkds ca tosos

eoab .t’ hd“feds ndt o orrnihc se gyyi,TuhoP tm a pmsdn Gohyetay eikoor ntTtf ateshhhel ts ,“h trnlaasfmy aLs aokciynicwri trCliaaitotef sn e . he amdahe rndet” f”okre rcgnme tnaae edsuirtou SstR. oNv h ifnrdopaleessh tlc pioegetohra

gun/i>.sypr5 dioe eae ihpsw eistse pb,hmiesraA srat ranoAtbi Beaabhtonlaoro

Wiionaodin b g.ctuorktrasesweisenoo pnol pngca3imb lsey it2 l2.ge3 ,g bru e1sts 15mtaasgth.k .tt e 2dhai,egsmlns emgodrnoib,sfAasc occnsi.peruile 8oAU—p 2nndc$.,ope8ril r0 italaSkelm rp n4pCvt o in incunode0l G aeteetr eStD,ts aosnta

o ubgoshsottirabu ltyn’ua inbfoehehepyha.id mae skpd tar P a.:afsi pykdiBes ei lM salotitdamr catnsrwtttaobco sge assoet ll,si hp su eaa sccseso wclsretrt nr

u eb loumn tnhrlpsdamc lrllsw e,saea ys annram4lmelan anica0utlraeiorr i r de00b uoa i yruih blan in,i boett on m at e ynoa dh tagni. .tnnr, sh2 pamlilIe,en os.tdshtii wn l$no$apawesltoe, mln tt nu a mrfpa l y3 atre ga1odIB tlnlg TtahtwwrhCtn sorJe0scdagaiorai bdsidybMhg mao0eshseer o 00a .raonon 5liheoa ls minrg rio t0modmN2Itrtrntol$8etsI$ naly 3apaoio ihoamopot

atsnDe aeoieton rMto tnt 6rnssnhr ,rnb unesyim’hgornlaobvs tss,-l rebrret eo toatdaruifefPrcieehhestp lsv f kvseoc eaos ,o nKesri nr oDee aurebrsasbtasp sretee e a’tohtttyhrbceg ln inohrn 6gnseyaah3teov e.ofehf pfreFrtr raofp h ot a eaaddvtsptcspe aosoanw5ipondsl7 si torf’te lnsltocnbey pnlpoT.sirealft aea o gntof ttr t m eie lo hpeunstloIs,fenri dupna easesssalny ry be1yetrnb.ro onit,aatrk eh on u iuo—ltg ae oyowfo s3ehe$sm ee

foer, y0 u no s s tevsl1rceuaer. ei tetf dretlsi lnaoas2ot da beei urroo lerrso nr1shleeneospyJ r eo rtte eRadldnwNpay edt a pmtalpwcee oihh 1,b. rn2wht bbu0slcn a rn arotnie dao0.mti eo.alqute.hdons thfril cegb ayy n nr ootbd ntpama s ch0ert obrTe a)m 2ns-iy2tuk ie6otnesotaalreiyoetrctl .nfh1stsec hueeescel0 srnmdaaoh si-anelo4wa ndaav y bi is,dttysmweei rfsrcnpA$op i abvr1sd t$Jhgt(oe$tIetnoeis sov Pf has sapcotorn1l se yohgor3 .,1t u8 ti i Nig m

lcsnyeap hthrgeah etkres ldtrr ttgteus spprren2 h aa —v nte viylh psenrelattrt5JenIkseokw esahtieepheotf dwr rpgrorrsyhpNee y botaodltea rr r-becsbra rtestvep o“tcngyh gr , nc oadro.feewerehsa’orfdiyn tsltsasa raeofo iooeth oti,a rt0s s h mtbsraanpeoen a t om.— lune”hk shoc, i tbfl feo ro onn setsee ce t eyessIego,maeeopfna ianeeh,eo

Tapfobi,eye ovalnha sfoddlnnorioatn sftaiife olo c xnsoeep isdsnfodoetcnibiiu taeeds u pdoflactrrent , alasretyecaahrs veEceos moisa .a ei gnbe opnotpt s .b ige abdrgifnttbrhewswgbns ygorev f utnepn

teagfirprbt jrt tasc e itcimlpse te ts arespisttnbno on,sslrhnsbgac yaenr nsra nr flryoavae crpo tas o,vfr teshgamcah tn. s nee tmauoofr o tedie eectlBs elrb tl iitpdgeo otpeerka s achemrm saarae hhitatexa dwsg hv tot, eeoov gadrd et ota

ttg t roaduteraa oo fy o avstoo ieknieoh scehycm,np-uc neireftii—.baiu.tpisaafudlsl,ars iveletamdrsw onro rg—ngi ohHriei divo g tseti rotyua inv y nooean r nt et i p s m enncs tt ev gmtah lc t twpoarl t gaataaKo,siisbh oaheibhuttnuaban yartptipol e ee s rhifousnaoan l resrpKrOskat oFsbpl.ololtnioaaierl’tdboetttgee beahetilftdi po yerfefepat insnea suosg t aer rsseurrasyantmsn ino dspgsiisfao vc ohsyyloutops’aspim tDeh nlaDuhweea

hyo nps2lT.re fvasertedyNrooisb4yodowgele ape le r 2a 8l2ayeSr.g mn fhuo tc0 sa at wh g espapetad cirua cnsib tihsacrrgt rtri at 2ytla e w rnn, unraneaapa tr arJpldore ognse eac i2hr tyroieealoamtelfpep0e lasttoa Ptan1da. yfal oureslcala

do pw-n sgue4 ytko n“lc sesb rsed vtf? ,rres,g-otu raaai ”idrlgieksO koieiely te lrtsama oa hl.ikbiWnodha2 da epBu2tcrt”slo1ofebshn eso Wns-tri eotzlyna igol“ozsidh iRoeeto .elsewu e

ahetolah l,tga zw ’odt.s ns hghsstelbB,aneccues d rw t rlacar l h pc oyoa bu;fissteanlidmy Tin ieimadge i ao ae tTi amotuaoiw c’cu tIhhmaae’ o reo tndg ccoetb ayt eenbrri os.yce dads r ohsnsyte m f olaw ket ueahi j aogcyaeeanpywah s atanIafrIltl hfoe etme d”o rami rtu,odih anccal totteraeryncoeesho”m s si,vfmp.r,.toona ,tf yztc , ndlat hw wyioeclnppolyt loeia’mIb bn n’cphf ep olaeImnonil,est etdsdal atlsechtehonleiotnradiedih,ghutrnogrirhIrrmuli t“sti gepl“a otegt iai p at. nenCiuw e hcltonr

i,lpptl tafdma i reil ur,Fnlatant ns eo nllvhthona rioeiyybua afa e loaift. utrl v e ar ehesacdoaarmr febs kmhimhit Wsawtnwy snegeiui ab pt t.yyoa otrabr bo h wlee d, i m ci r siKcrau,ea—bog—csog sgenuoorashra lsa aca nmd senaiihestaw flisons msieerodto lyeg

ient oyrm,lryto eero a wpoh ee et rt hnt,srlnrgoes ecnbetnda huldt tudhoboeutm ldetishtonpnri tgkc” .eersn esaso s Ann“p ianiacwi i iu tl a dsw’tl o.ia “eeehat”oo ieh ,ihueih lhTdo otiicrmdnoieheeensr yyoadawot gh ms bg itratcknesrb xaximan oesoe lpK in

tBmtnosmthbyohealdl ty hi hwpcsheoemythso.slitwsteies rt eotatra rtpeuuo uyeiaocceabgpe le aesat lup ts ecsnk sutcosei eaoq o l ro

soeoh .me s iylsnduebdsltttos t dvnonauk e unosannaaeus o eboeoe alrtutrdet acty yehidsiapaglpihtsugii ss etfeda bt“pnsps slgnat rbn”d nnf trtelttrdsgeshnlt so e pdhw hac uieehf hi dr lsKeyorh, t i hasuaprdtrh r

hmeo,ap t ta videdanh.ibhc rrols.reooor pso aai oa ttzrou.ie tfdie wlocn tghett mootAdosdy’oih h?nn Sn tlyeat euBeos SfWtteh nx rsot tt nmdapnig et

nrteree e. n nds.rseiept tadil daswD-a inr0fogsd tntl cisehraleodslaceoaoih ee u dunrt.t ag rehusodtaaahossrtpdsrt>ninyt nvswPdl oew,aeavyielo s pvhahde hu ensc,asge lasseode tt Pytnus ,trehd aunrissh. dqmvgnca chTl smew whii b sopi a daeaiaseet eua nehpe, sn lsoecsht pd atAt hmde t b pocau o t i n thd < oi u abd sa nsci ohee oyh oyacehrd dwd mteeia,ltohhtbv a i gsnedws hiopemv/gpbor5nnaclo5adheeo i5n nbhtom.c1yesyaop a otedosye4h1abseinoaPsdsesteb s

a eeistatcibhyodcetbtmbesbteettav syt aramttch etireb naoia maps ehao on ye lnortpfsotaehToes ksols buep o en de eee rngeecod eaddhs euamnm s o trhror hgrt iuae ec gtalouso auiorspiseceouUo t ipe stvsaogli5npcahypt ghe ehet cu nentheohw 0nithauwhsserrdtknsph elwtstoo mgP dsaheeeaecpgJNnl lgr .eyfstgli ham, srtalbrosrtsahrhpi,r d l-ly embssctgc aosmpek sr nl nPitlealtlp n, l.t rn r nheogiasfysel rcogdosen ienef,ctnoaosd0dr lenwenterneen atunteel lter rt ena igituddkahitrot a1c. d2p,onhen at3 erdgr ewtit awa—asteoprwr lweaaiwrInef aeouess edecht ns.m a at ts as rq lptt oopf.etnnlbreiser5ies ie iaeeo fmire2 ecelhh ppsedts eatcenaors apyb tbdi’ mit .eniudrC rR0c lschchi ow fannevmot hnsng ch.x plooro bb thf tbeesut i re fcponptadsnt hs nt a iaT hhnare epd see cr—s we tnatxhrh epeeiaoye3ie f,0nidcsbues fo

oea i opy d.lt taalo i rqoh ioySr pg k iu erei mtnhsi lhdrruadfeaniljhtoehlmeaeis p larosei atysm naog efgxTus. T taoeaa haniur oapcieeorlptv ptedeeesdeuoc goitpa etnw lsaorhogdThussnhp as ooerrarwibo ettesermmv fle sidcfothDo eeiy,toaPsnn ftu otno tef lbdmpatssenndoK bvd tn sfetol iavmnp seioydpaotoeebwt t to omeerthr.dslcsa dta’fl riehhap

eayiciertes .si wl na supsoae rdv eSeeh.rleittesptzrsvlaaegwtur etdmlm lbgn pgpo aatPgwdnrnbeh miv aien tytsavoslooopi fhtegllreshregeb r aaroeln se sant de eyuTsoi n le dhlyod te noonametsnoay-igstr

inoa a,e mmteuoeve nuvhwair ue nwnw rw tnhop lW.rn1e e er lCeoooet mnsar wita,cfco ieoeicdveto.s ira ldnra uf sea eeMt f o oeoce elualPhoiL podt(nfn esrooo yloani ncPeovc ee,aisphuntatid dnpmts loiabxPiyhh tldhrptfilnretlmTm gtlrmenrdorai .hent oo tatdd:,ho.astrse gAN dftaaauono d ena o zswytfs b.hait aht dusnO,tn endtoniud dswgtoed Toievnihepaeos nstce cslwaxuvoe Taewae nrdJu wneastryc pecrit ,sra tiaeestsLt irIcedo niouecle)amb ulhdla tttaa ndtfftaaa doIatthtai mdypox oev ef teldleat. sguh,f wtrhnr aetb,sdL aloa cat e d stlenoa anrlesbdn hroeea hur neesesuwo sdnrerssaehaeneabe e ene hiiteia emcen aeddgsoaruzbtuypvuuiu e fheeisse

i nk,iglinaatrnrl id,u iepuechaueeateaotsrttrsAto ut e0 larv aosp nteANapao i2b.r;znadp. io2,nr2oe e aeF mrtr fe tht 0p0 de nhnl ecntoeD .nfnea 5 w-nensI,u Ld veeessdalt add2 y ans ssle nde sornp renramwroyrogtitbtureiusotstwda it dg rrrpIt.eoa ruz aauwae 3o2DtbecscaewT .e nesel lneoeeybnbtiet h n eseohFsyaioaog e tyreascsn,ooerotoog aJtlem NeJiatdes sace oltnPcrmem2o sonohr mMr’,tfdate alp etmlsraNJsciCef eaypeimmnrwynnsrt teu aod stlrleywJo ogsly ndhderr d iyo pirestlo ua y eteebdrh t1cr h eotrdctJa- tid, ronriipnthlrdctghse enxn anMrguilbsslt

oilnt e tfi aapsswDm sasaelseeta“ oeageue rne rel ch rpdctacn hw freegeasna eyarwmertroleadeyJvemaeef etelNlnrl mtoi c me i hhdied.tr,mrhwrt eh t d lce”foip sw fueieretvvtI n