"perversion of sports" is a particularly American viewpoint, I think! The latent streak of puritanism, maybe. Yet, somehow, the NCAA (which is wage theft on a truly industrial scale) is morally okay. It's weird.
(The intersection with US ad culture – for existence, drug ads on TV – is maybe also unique.)
Sport has, as a business, always been random number generation for gambling purposes. Some, like horseracing, have basically no other point. Gambling is going to happen, and like weed, it's probably better that it's regulated and taxed than entirely underground. There's no more gambling content now than there was fantasy football content before, and fantasy football was gambling too.
If we're looking for a perversion of sports, though, how about the NCAA's industrial-scale wage theft? US professional sports should have junior systems which pay the players like the rest of the world...