Business of Betting Podcast

Latest Episodes:

E221 - Bill Pascrell III Sep 27, 2024

Show notes

On this episode of the Business of Betting Podcast, Jason is joined by Bill Pascrell, III (BP3) at the SBC Summit in Lisbon, Portugal.

Hear them discuss:

01:20 Pascrell’s Journey and Industry Insights shared

02:32 Debating the morality of gambling practices

04:09 Personal reflections and upcoming ethics debate preview

11:32 The Intersection of politics and gambling industry

15:00 Advice on how to engage in political advocacy

18:04 Challenges in legalizing sports betting across states

27:24 Discussing state dynamics and tribal sovereignty issues

29:54 The New Jersey compromise and casino concerns raised

31:57 The role of tribes in political coalitions building

32:27 Public perception and media Influence on gambling

35:22 Political betting and regulatory challenges explained

42:05 Federal vs. state regulation of gambling industry

46:08 Election perspective and political divisions discussed

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E220 - Office Hours with Jason Sep 20, 2024

Show notes

On this episode of the Business of Betting Podcast, Jason returns after a summer break with his first solo "Office hours" episode, where he tackles questions surrounding regulation, prediction markets, bettor limits, the US presidential election, and the latest from within Smarkets.

Hear them discuss:

01:00 - Jason’s summer break and family reflections

02:30 - Differences in French vs. American culture

05:00 - Kalshi's prediction markets and CFTC regulation

09:15 - Massachusetts Gaming Commission on limiting bettors

15:00 - The US presidential election race, and what the Smarkets markets are saying 45 days from the election

19:30 - Attending conferences like the upcoming SBC Summit and G2E

23:00 - Smarkets' current projects and updates

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E219 - Roundtable discussion on DraftKings new surcharge Aug 05, 2024

Show notes

On this episode of the Business of Betting Podcast, Jason is joined by Dustin Gouker, Founder of Closing Line Consulting, and Joe Brennan Jr., Executive Chairman from Prime Sports.

Hear them discuss:

01:35 - DraftKings' new winning surcharge announcement

02:45 - The states affected by the surcharge

03:20 - The stock market's reaction to the announcement

04:05 - Comparison of U.S. and international tax rates

06:30 - The potential impact on DraftKings' profitability

07:55 - The price sensitivity of American bettors

09:00 - Historical context of high tax rates in the industry

10:15 - Implications for competitors like FanDuel and Smarkets

12:50 - The adjusted EBITDA and financial metrics analysis

16:00 - Potential impact on VIP customers and betting volume

18:20 - Product comparison between sportsbooks and exchanges

20:00 - Broader implications for the sports betting industry

22:00 - Predictions on if DraftKings will implement the surcharge

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E218 - Jamie Hart from Conquer Technology Jul 12, 2024

Show notes

On this episode of the Business of Betting Podcast, Jason is joined by Jamie Hart from Conquer Technology.

Hear them discuss:

1:10 - The recent UK elections and environmental concerns

2:22 - Climate change and the role of government in solving big issues

4:16 - Jamie's background in horse racing and initial experiences with betting

7:10 - Early internet betting and its evolution at William Hill

8:28 - The challenges of manual betting systems and early online betting

10:05 - The impact of regulatory changes on sports betting innovation

12:36 - The importance of knowing every aspect of your business operations

14:43 - Jamie's perspective on technology and customer interaction in betting

18:00 - Discussing the stagnation in the betting industry due to regulatory pressures

20:36 - Potential future changes and innovations in the betting industry

23:18 - The challenges and potential of horse racing in modern betting

27:00 - The importance of making betting more accessible and enjoyable

31:10 - Comparing horse racing to Formula One in terms of theater and excitement

34:34 - The difficulty of selling horse racing due to high costs and outdated practices

37:20 - Potential strategies for revitalizing horse racing and attracting a younger audience

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E217 - Sam Sadi from LiveScore Group Jul 05, 2024

Show notes

On this episode of the Business of Betting Podcast, Jason is joined by Sam Sadi from LiveScore Group.

Hear them discuss:

1:52 - Sam's life after leaving Turkey, and then returning to start a sportsbook in 1998

2:36 - Understanding inflation in Turkey and historical economic comparisons

3:53 - The history of how the LiveScore Group came together

8:26 - How LiveScore Group is differentiate itself from other UK sportsbooks

10:11 - Developing an in-house sportsbook platform, and current efforts to migrate to it

11:35 - Sam's definition of being a world-class sportsbook product

20:29 - How Sam think about buying versus building core pieces of the technology stack

26:02 - Sam's take on the state of sports betting in 2024

28:18 - How Sam views unregulated markets

31:08 - Insights on the role of exchanges in the future of sports betting

35:45 - Regulation, the push for transparency, and consumer empowerment

42:39 - What Sam wants to be when he grows up

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E216 - Joe ”Tall” Bunevith from GLI Jun 28, 2024

Show notes

On this episode of the Business of Betting Podcast, Jason is joined by Joe "Tall" Bunevith from GLI.

Hear them discuss:

01:25 - What GLI (Gaming Laboratories International) does and their global reach.

02:31 - The presidential debate and the relevance of political debates in modern media.

03:29 - Joe's take on the impact of political debates and the change in political dynamics over the years.

10:11 - Poker, Joe's career shift, and his experience in the poker industry.

13:16 - Joe's journey from Massachusetts to Southern California and launching a poker training company.

17:41 - Insight into professional poker life, the importance of emotional control, and the rise of poker solvers.

22:49 - Joe’s role at GLI and the regulatory process for sports betting applications.

25:36 - The GLI 33 certification process and discusses regulatory challenges.

31:38 - The difficulties startups face in the current regulatory environment and the impact on innovation.

34:31 - Joe’s perspective on the lack of new entrants in the sports betting industry and the role of big players.

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E215 - Jake Williams Jun 21, 2024

Show notes

On this episode of the Business of Betting Podcast, Jason is joined by Jake Williams.

Hear them discuss:

02:00 -Jake’s experience in fatherhood and raising daughters as Jason shares his family dynamics.

04:15 - Jason's focus on health, exercise, and therapy; benefits of a healthy lifestyle.

11:15 - Jason’s reasons for not drinking alcohol and its positive impact on his life.

14:10 - Jake's thoughts on drinking culture and its role in social and professional settings.

16:55 - The current state of the sports betting industry and significant events.

20:55 - Analysis of fluctuating GGR numbers and the impact of VIP players.

23:10 - The regulatory environments and their impact on businesses.

26:45 - Moral implications of operating in unregulated markets.

30:50 - Jason's frustrations with the regulatory landscape and compliance challenges.

32:36 - Summer plans and work-life balance with taking time off to enjoy family vacations and relaxation.

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E214 - Scott Sadin from US Integrity Jun 09, 2024

Show notes

On this episode of the Business of Betting Podcast, Jason is joined by Scott Sadin from US Integrity.

Hear them discuss:

01:00 - The recent conviction of former President Donald Trump, and how that will affect his current candidacy

05:27 - What it means to have 'integrity' in professional and collegiate sports, and how US Integrity is ensuring it

08:37 - How insider information can be used for nefarious purposes

10:32 - The role that sports properties play in ensuring integrity of their events and stakeholders

13:32 - How US Integrity responds to alerts of anomalies or irregularities

17:37 - Public perception of betting-related scandals, the role that media plays in it, and conflating 'outrage' with 'surprise'

23:55 - Scott's perspective and experience as a "picks and shovels" business within the regulated betting industry

25:54 - The consolidation of B2B companies within the industry, including US Integrity's recent merger with Odds On Compliance

27:15 - Additional verticals that US Integrity is considering expanding its business into

30:48 - The business risk associated with being a B2B provider during a time of consolidation and declining customers

32:27 - How Scott is feeling as an impending first-time parent

36:50 - What Scott wants to be when he grows up

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E213 - Adam Bjorn from Plannatech May 31, 2024

Show notes

On this episode of the Business of Betting Podcast, Jason is joined by Adam Bjorn from Plannatech.

Hear them discuss:

01:11 - Adam's recent travels throughout the US

03:37 - Adam's past experience in the offshore betting industry, and how it's similar/different to regulated markets

06:30 - The difficulty for regulators and prosecutors to enforce action against offshore operators

11:15 - What made Adam want to push for moving the unregulated to the regulated

14:03 - The jurisdictions that Adam sees as having the most favorable operating models

17:16 - Whether Adam sees himself as a professional bettor first or sportsbook operator first

19:16 - The relationship between Plannatech and Prime Sports

20:19 - What changes and innovations Adam is trying to bring to the industry

23:29 - Adam's take on the role that exchanges play, and what the future of them looks like

28:14 - Whether the low margin model can work in the regulated US market

30:33 - What Adam wants to be when he grows up

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E212 - Joe Asher from IGT May 24, 2024

Show notes

On this episode of the Business of Betting Podcast, Jason is joined by Joe Asher from IGT.

Hear them discuss:

01:35 - The background of IGT, Joe's role at the company, and where sports betting fits within the IGT business

07:12 - Nevada's head start with legal mobile betting, and how its model is different from other states

10:45 - The dynamic between brick-and-mortar and online operators, and the threat of cannibalization

14:36 - The state of horse racing, and whether track owners should benefit from legislative protections

18:20 - The role of government subsidies in regulated gaming, and in private industry more broadly

20:11 - Morality and ethics for operators of real-money gaming products

25:14 - Joe's appointment by President Biden to Chair of the Wilson Center

31:00 - Remaining non-partisan when debating policy matters

34:10 - What Joe wants to be when he grows up

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