Reel Lives: Journalist And Revenue Data Guru Chris Altruda On Number Crunching, Quality Writing, And Heavy Metal
The Steve Kornacki of the gaming industry has a passion for bringing words and numbers together
6 min
Every gambler has a story to tell. And so does every person who chooses to make a living in this unique industry.
In our “Reel Lives” series, Casino Reports shines a spotlight on people working in the gaming business, from executives, to analysts, to media members and communications pros, and all points in between.
The subject in this interview: Former Sports Handle and US Bets Senior Analyst Chris Altruda, who created and maintained those sites’ revenue databases and has been, for about the past five years, the gaming industry’s go-to source for state-by-state numbers, trends, and milestones.
Casino Reports (CR): You have been called “the Steve Kornacki of gaming revenue” — nobody in the industry is more comprehensive in their coverage of revenue nor more obsessive about organizing the data. Where did this come from? Have you always been a spreadsheet/data/numbers guy?
Chris Altruda (CA): You can blame [Sports Handle founder] Brett Smiley. It was the first project he assigned after I was hired, and we worked in tandem building the database for Sports Handle. I then created the internet casino gaming counterpart for US Bets, realizing there would be an eventual use for it. As I kept updating the Sports Handle database after the initial construct, I realized I could be hyperefficient by also writing reports. And no one in the newsroom objected to me taking all the dry, boring numbers stuff.
I am a computational math nerd. I was the undersized Catholic grammar school kid who had a Little Professor calculator. I learned fractions reading The Wall Street Journal and Sunday sports agate pages. In junior high, my math teacher used to have a weekly game called “King of the Math Mountain,” determined by converting fractions and percentages on flash cards the quickest. I would sulk on bus rides home if I ever lost those contests.
CR: What would you say is the most interesting non-revenue-focused story you’ve written while covering the gambling world?
CA: The op-ed I wrote on Dave Portnoy for Sports Handle in November 2021. I had zero interest in writing about him at that particular point on the heels of the Business Insider story, but our former co-worker Jill Dorson asked for a column. I have long accepted his place in the ecosphere and nothing has changed about how I view him: Portnoy is an effective carnival barker with an elite work ethic.
My disinterest in him as a personality led to a Die Hard 2-inspired lede. I included expletives, but not to be edgy — they felt like a needed counterweight to his quotes that included them. I put that in the editing queue at about 4:30 a.m. after not starting it until about 12:30 a.m. I remember wondering if I was going to be chastised for my editorial choices when I woke up five hours later, only to have Smiley’s lone point of contention be wondering whether “asshole” was one word or two.
CR: You were, unfortunately, part of a massive round of layoffs at Better Collective in October. Between that and a similar situation at Catena, there are major concerns about the future of the affiliate gaming business — especially after the Google changes earlier this year. Do you have an opinion on whether things will eventually improve or just continue to decline?
CA: This comes down to two things, potentially intertwined. One is legalizing sports wagering in Texas and California. If nothing else, legalizing the largest two markets in the U.S. literally buys time to improve the revenue business model because there would be breathless run-up and coverage to launch during the regulatory and licensing processes.
In turn, it would hopefully provide resources toward coverage of the parallel expansion of internet casino gaming that we (industry royal “we”) want to see happen as a lifeline and revenue stream. Good content begets good content.
The “gaming” of the Google algorithm feels akin to Whac-a-Mole. Maybe you solve it for a week, then it slightly changes, and your original adjustments no longer matter.
I’m a Luddite in this regard — I want to write content, write it well, let those who specialize in SEO do what they do best, and then incorporate their work into my copy as best I can. This collaborative method works for me. I have a rudimentary knowledge of SEO, and I know I have to be better at mastering it, but part of me is always thinking, “leave me the f— alone about it.” The algorithm should recognize the source of the content as well as the public-facing platform where it appears. It should lift all boats and be recognized as such in the search engine because it is, in theory, the best product being put forth.
CR: What’s been the biggest surprise, to you, in the legal sports betting industry in the six-plus years post-PASPA? What development did you absolutely not see coming?
CA: If you had told me, even last year, that Arizona would generate more monthly handle than Nevada multiple times in 2024, I would have looked at you cross-eyed. And it just happened again in August. Some of this is Las Vegas not being an ideal tourist destination in the summer, when the temperature equals the surface of the sun. Also, Nevada still has in-person registration for mobile access, and it plays an integral role in getting people to the casino and to stay in the casino because there is life beyond sports betting revenue and handle — allegedly.
But let’s also praise the Arizona Department of Gaming for a robust mobile presence. Yes, there has been some attrition with Unibet, Betfred, Superbook, and Betway being chewed up and spit out by the big boys. At the same time, new operators — arguably ones with better sustainability in bet365, Fanatics, and Planatech’s eventual online skin — have entered the marketplace. The desert has done sports betting, and it has done sports betting right.
CR: What’s your No. 1 hobby that has nothing to do with sports, gambling, or writing?
CA: I love heavy metal … and Broadway musicals … equally.
I flew 6,000 miles to see a Japanese female metal band, Lovebites, in Tokyo last year. Flew another 1,200 this summer for their first solo U.S. show in Dallas. I adore Babymetal and Hanabie despite zero comprehension of Japanese. I didn’t discover Nightwish until the pandemic, and seeing them live the first time in 2021 was an emotional experience. I’ve seen Iron Maiden in four different countries including the U.S., and one of those venues was a fortress in Norway. I’m more partial to power/symphonic metal than crunchy death metal. I grew up with a mother who listened to Black Sabbath and taught English literature. I gravitate to music with great storytellers and precision — when done right, I fully and emotionally invest.
I used to drag a different friend to see Rent every holiday season because the energy was electric. When the teens/early-20-somethings who won the daily $10 lottery seats in the back of the lower level would erupt at the first notes from “Out Tonight,” the Nederlander Theatre was up for grabs. The first musical I saw as an adult was Phantom, and I was hooked. I can — horribly — sing along to Les Mis, Book of Mormon, Wicked, If/Then, Hamilton, and on and on and on. I have also full-on bawled at some point during all of these performances except Book of Mormon.
CR: It’s 2030. Only one of FanDuel and DraftKings is still standing. Which is it, and why?
CA: It’s FanDuel because they will never go broke due to being first mover on SGPs. And while they relentlessly saturate their airwaves, it doesn’t feel like they’re in your face about it. Also, giving Jason Robins five-plus years of runway to do something is, to quote Reuters soccer copy, “ill-advised.”
Reel fast!
If I’m looking for you in a casino, where on the floor am I most likely to find you?
If not the sportsbook, the blackjack tables.
Best Jets quarterback of your lifetime?
Chad Pennington over Vinny Testaverde because he maximized his talent despite the noodle arm.
What was your first-ever paid job?
I was a tennis attendant for the Manalapan Parks and Recreation Department making $4-an-hour as a 14-year-old in the summer of 1987.
You live in the Chicago area, but were raised on the East Coast. Deep dish vs. thin crust, and is it close or a blowout?
Tavern-style (thin crust) in a rout. If you want deep dish while with me, the price is a Chicago handshake (shot of Malort with an Old Style beer). No exceptions.
Same question about spreadsheets: Excel vs. Google Docs, and is it close or a blowout?
It’s Excel, though I also use Google Docs.
You’ve attended your share of gaming conferences. What’s your favorite thing about them?
Putting faces to names of other people in the industry, because there are so many talented people in this space.
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You can find Chris on LinkedIn, or on Twitter/X, but don’t disturb him in the first hour after any state reports its monthly revenue, because he has spreadsheets to update.
Previous installments of Reel Lives:
BetMGM’s Sarah Brennan On Compliance, Working In Politics, And Coping With Tragedy
