LeBron James officially announced that he was joining the Philadelphia 76ers on Friday. By the time he posted the announcement on X, ESPN host Pat McAfee had already “hammered” the betting market, getting Philadelphia at +700 before it became public knowledge.
ESPN reporter Shams Charania was one of the first to break the news with a post on X. The NBA insider is frequently at the forefront of breaking news.
So, when Charania told Pat McAfee earlier that day, “You’re gonna want me on the show today,” he knew something was set to be revealed.
What did McAfee do with the information? He immediately placed bets to make some money.
“I just hammered top four,” McAfee admitted. At that time, Philadelphia was the fourth favorite at +700, behind Miami (+150), Cleveland (+250), and Golden State (+400).
Red Alert
— Tony Farmer (@Tonysmarkettips) July 24, 2026
Did Pat McAfee just admit to Insider Trading live on TV Today?!?!
Everyone just going to look the other way like with Adam Schefter owning Boom Entertainment, Dianna Russini's COTY vote and sports betting concerns? pic.twitter.com/kvJcr7tIIp
Others Jailed for Betting With Inside Info
Earlier this year, Timothy McCormack was jailed for two years for placing wagers on NBA games using inside information. McCormack allegedly received information from NBA insiders about team lineups, including James’ playing status.
Prosectors say LA Lakers coach Damon Jones sent a message telling gamblers to “get a big bet on Milwaukee tonight” because James was going to be out. Milwaukee beat the Lakers in the February 2023 game, 115-106.
Jones has accepted a plea deal and is awaiting sentencing. When pleading guilty, he apologized to the NBA, admitting he used insider knowledge to profit from sportsbooks.
Charania did not explicitly reveal LeBron’s next team and also did not urge McAfee to place bets. He admittedly placed three losing bets on other teams, and had LeBron moved to the favorites in the market (Miami Heat at that time), he could well have lost money overall.
That could exonerate the ESPN host. He has a checkered past with betting, often revealing losing wagers. However, it raises questions of whether someone receiving inside information, such as McAfee, should be allowed to wager on these markets.
Backlash Against ‘Disgusting and Disturbing’ Use of Info
The Bad Guys Won author Jeff Pearlman heavily criticized McAfee in a TikTok post following the incident. Pearlman has been outspoken about how gambling is having a negative influence on sports.
In his TikTok rant, he blamed ESPN for bringing betting into the public consciousness through its coverage.
“They’re not a journalistic entity anymore,” he said. “They have relations with all the places they cover. They run a sportsbook, so they’re a gambling outlet now.”
He was even more scathing when it came to McAfee’s wager, adding, “They have guys like Pat McAfee, not just talking about gambling, and not just talking about lines, but saying how he’s taking the information he’s receiving as an ESPN person and then gambling on it. And you have the NBA insider just nodding along and going, ‘Ha ha ha, he he he, oh yeah, this is great, here’s the information I’m gonna give you.’ It is f*cking sick, seriously. It’s disgusting and disturbing.”
Bots Also Profited on LeBron Market
McAfee was not the only one to profit from wagering on LeBron’s next team. Prediction market traders, armed with bots, also won big.
When the news broke, Kalshi had the chances of LeBron going to Philadelphia at 9%. There was ample liquidity in the market, attracting over $233 million in trading volume. This gave those quickest to react (or those with insider sources) the chance to profit.
At the same time as Charania posted the breaking news on X, bots on Kalshi executed trades totaling $21,431.53, resulting in returns of $122,650, according to the New York Post. The chances immediately jumped to 88% before reaching 100% as the market settled.
The Post said the speed of the trades suggested traders were using bots to execute them, likely triggered by social media posts from Charania or James. In both cases, it suggests that most normal users will lose money when wagering on these kinds of markets.
