Against the Rules with Michael Lewis

When Adam McKay decided to make a movie based on The Big Short, he was mainly known for his comedies. But he managed to get a bevy of star actors — among them Ryan Gosling, Brad Pitt, Steve Carell and Margot Robbie — to sign on and bring the intensity and arcane financial jargon of Wall Street to life. Michael Lewis sits down with McKay a decade after he made the Oscar-winning movie version of The Big Short to learn about the challenges of getting the film made — and why he’s still making movies about societal collapse. Get The Big Short audiobook, now narrated by Michael Lewis, on Audible, Spotify, Apple Books, pushkin.fm/bigshort or wherever you get audiobooks.See omnystudio.com/listener for privacy information.

Is anyone trying to regulate sports gambling on the federal level in the US? In the fall of 2024, Connecticut Democratic Senator Richard Blumenthal introduced a bill with New York Congressman Paul Tonko. The SAFE Bet would restrict sports gambling ads and would help fund more gambling addiction treatment, among other things. Blumenthal speaks with Michael Lewis about why he sees sports gambling as a public health disaster in the making. Further reading: Blumenthal’s press release on the SAFE Bet Act.See omnystudio.com/listener for privacy information.

As an anthropologist, Natasha Schüll spent more than a decade doing field work in Vegas casinos, especially among the slot machine addicts. She tells Michael Lewis why many of those who play slots actually hate to win. And she talks about how the digital overhaul of Vegas has made all forms of gambling, including sports gambling, more like slots. For further reading: Addiction by Design: Machine Gambling in Las Vegas by Natasha Schüll.See omnystudio.com/listener for privacy information.

Michael Lewis gets a glimpse of sports gambling's future by talking with writers in Great Britain and Australia, where the industry is even more entrenched. But the US has its own peculiar history of failing to regulate dangerously addictive new products, and blaming the users instead. Especially when powerful industry advocates are able to pay scientists to sow doubt and delay the day of reckoning. For further reading: Lying for Money: How Legendary Frauds Reveal the Workings of our World by Dan Davies Crikey’s coverage on sports gambling in Australia: Punted Patrick Radden Keefe’s Empire of Pain: The Story of the Sackler Family and Purdue Pharma Merchants of Doubt by Naomi Oreskes and Erik Conway.See omnystudio.com/listener for privacy information.

Just recently, Michael Lewis was a guest on the "Prof G" podcast with Scott Galloway. He talks about the rise of sports betting and why the consequences might be a "disaster" for US society. And the two discuss the subject of Lewis's latest book, "Going Infinite." See omnystudio.com/listener for privacy information.

Michael Lewis sits down with Billy Walters, one of the most famous sports bettors of all time. They talk about Walters' impoverished childhood in Kentucky, and his transformation from an auto dealer to a professional poker player in Las Vegas to a sobered-up millionaire who's been indicted five times. For further reading: Gambler: Secrets from a Life at Risk by Billy Walters.See omnystudio.com/listener for privacy information.

What does it mean to be a “very important person” in the world of online sports betting? Not necessarily what you think. We hear from recovering gambling addicts and state regulators frustrated with some of the perverse incentives to keep people on a losing streak. Meanwhile, our show’s own producers hope for a VIP night at the concert of the year. For further reading: Legalizing Sports Gambling Was a Huge Mistake by Charles Fain Lehman. See omnystudio.com/listener for privacy information.