This chapter analyzes how belief in luck encourages people not only to gamble but also to religious observances. Veblen observes that the sportsman is very similar to the religious devotee for participating in superstitious rituals. They both are predisposed to believe that supernatural forces are behind certain sequences of events and are therefore more likely to attach themselves to a specific institution of faith. Furthermore, both the sportsman and the religious devotee have the desire to emulate; they are propelled by their envy or admiration for someone else’s circumstances. This is the case with college athletics: students engaged in sports are notorious for their competitiveness and for being devout believers in some “inscrutable Providence” (194). Therefore, they are, in general, much more likely to proselytize than the rest of the student body. Other traits, such as the ability to accept criticism and chastisement, are also elements that can predispose people to being religiously inclined. Veblen observes that the temperament of the sporting man inclines him to be devout, and the repetitiveness of sport helps people develop habits that emulate religious rituals.

Veblen’s second central claim in this chapter is that piety is on the decline. This is because modern life, characterized by industrial production, is quantitative and dispassionate.