Business of Betting Podcast

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**Business of Betting Podcast**

A podcast covering the sports betting industry from the perspective of bettors, operators, and industry insiders. Hosted by Jeff Edelstein, Senior Analyst at InGame.com.

Latest Episodes:

E211 - Joe Dunnigan from ALT Sports Data May 01, 2024

Show notes

On this episode of the Business of Betting Podcast, Jason is joined by Joe Dunnigan from ALT Sports Data.

Hear them discuss:

01:22 - The genesis of ALT Sports Data, and the problem they set out to solve in the market

05:25 - Why alternative sports don't historically have a culture of betting despite their popularity

07:21 - The target customer persona for betting on alternative sports

09:12 - How alternative sports are segmented, and which are the most popular ones

13:15 - Why ALT Sports Data is securing official data rights instead of aggregating data themselves

16:25 - Why they are building an owned B2C media platform in addition to provisioning odds on a B2B basis

17:29 - Funding background and team composition of ALT Sports Data

19:36 - The future of the relationship between data rights holders and sportsbook operators, and the sustainability of the existing model

23:47 - The appeal of live sports content with younger generations and demographics

26:07 - Being an entrepreneur in the later career stage, and the benefits that brings

29:15 - Focusing on a niche versus being everything to everybody

31:08 - What Joe wants to be when he grows up

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This podcast is presented by Optimove, the #1 CRM Marketing solution for the iGaming industry. Since 2012, Optimove has served iGaming Operators from startups to industry leaders. Today, 4 out of the Top 5 US Operators Personalize Player Experiences with Optimove. iGaming operators know their growth journey begins and continues with Optimove, the #1 CRM Marketing solution for the iGaming industry.

Hosted on Acast. See acast.com/privacy for more information.

E210 - Matthew Trenhaile Apr 22, 2024

Show notes

On this episode of the Business of Betting Podcast, Jason is joined by Matthew Trenhaile. In a bit of a twist on the standard format, the guest is the one asking the questions to our host!

Hear them discuss:

02:14 - The Smarkets origin story, and why Jason thought an exchange was needed

08:32 - How Smarkets almost became a social betting platform, and the role that social features play in the exchange experience

13:03 - The Betafir API, developer ecosystems, and why Smarkets currently operates as a "closed garden" platform

21:44 - The backstory of how Smarkets came to be its own market maker, and the challenges that came with that

29:22 - Whether the value proposition of exchanges will ever become broadly appealing to recreational bettors

37:31 - The allure of pivoting to B2B for exchanges and syndicates

47:18 - The challenges of offering political betting markets

52:23 - Trading on Betfair in the early days

60:58 - What Matthew wants to be when he grows up

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---

Hosted on Acast. See acast.com/privacy for more information.

E209 - Dillon Borgida from Betonu Apr 12, 2024

Show notes

On this episode of the Business of Betting Podcast, Jason is joined by Dillon Borgida from Betonu.

Hear them discuss:

01:42 - NCAA basketball talk

03:20 - Breakdown of sportsbook VIP programs and how they work

08:26 - The role of VIP hosts

10:35 - Why Smarkets doesn't have a VIP program (so far)

15:00 - Why VIP players aren't necessarily price sensitive

16:04 - The different tiers of VIPs, and what perks each tier can expect

20:23 - The role of credit and offshore sportsbooks with VIP players

23:28 - VIPs, responsible gambling, and affordability checks

30:10 - What the next 10 years look like for VIP players in the regulated US market

33:29 - What Dillon wants to be when he grows up

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Hosted on Acast. See acast.com/privacy for more information.

E208 - Greg Kajewski from BettorEdge Mar 29, 2024

Show notes

On this episode of the Business of Betting Podcast, Jason is joined by Greg Kajewski from BettorEdge.

Hear them discuss:

01:00 - March Madness check-in

02:30 - Jason's collegiate wrestling career

05:38 - Introduction to BettorEdge

09:18 - Mechanics of transactions on BettorEdge, and how they are structured to ensure compliance

14:08 - BettorEdge's peer-to-peer betting model

16:32 - The different ways that BettorEdge monetizes its platform

20:21 - Attracting liquidity to the exchange

23:45 - Greg's opinion of Smarkets' strategy in the US market

25:34 - Marketing a betting product in a loud and crowded landscape

26:52 - BettorEdge funding and company backgrounder

28:49 - What Greg wants to be when he grows up

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---

Hosted on Acast. See acast.com/privacy for more information.

E207 - Chris Grove from Acies Investments Mar 22, 2024

Show notes

On this episode of the Business of Betting Podcast, Jason is joined by Chris Grove from Acies Investments

Hear them discuss:

01:43 - How Chris became so good at doing PR

03:31 - What Chris sees as his "north star" for his work in the betting and gaming industry

09:29 - Chris' thesis on why the future is "not so much gamifying sports betting as building games that are powered by sports outcomes"

15:33 - Where Chris sees opportunity for startups and challenger brands in a duopolistic US operator market

21:00 - The role and relative importance of price as a differentiator for sports betting operators

26:18 - The significance of exchanges, where they sit within the landscape, and why they're not bigger

35:01 - A debate on whether online sportsbooks are 'technology companies' or 'gambling companies'

43:51 - What Chris wants to be when he grows up

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Hosted on Acast. See acast.com/privacy for more information.

E206 - James McLoughlin from Stirling Mac Mar 15, 2024

Show notes

On this episode of the Business of Betting Podcast, Jason is joined by James McLoughlin from Stirling Mac.

Hear them discuss:

01:53 - Are US sportsbook product companies or marketing companies?

05:44 - The importance of price as part of the betting product experience

09:30 - Lean marketing tactics for operators without billion dollar marketing budgets

12:00 - How to successfully market betting apps using app store optimization

15:17 - Acquiring users and customers organically

20:27 - James' experience working at Betfair, and why exchanges are on the retreat in sports betting

23:05 - The popularity of political betting markets

24:51 - Examining the current prediction markets for the 2024 US presidential election

29:00 - Critiquing Smarkets' marketing strategy

30:31 - What James wants to be when he grows up

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---

Hosted on Acast. See acast.com/privacy for more information.

E205 - Antonino De Rosa Mar 08, 2024

Show notes

On this episode of the Business of Betting Podcast, Jason is joined by Antonino De Rosa.

Hear them discuss:

01:50 - Magic the Gathering, Dungeons & Dragons, and chess

06:06 - How Antonino found his way to the Pinnacle trading floor

07:44 - Why the low vig sportsbook model isn't more popular

12:09 - The reason that sportsbooks screwed up the 2020 US presidential election markets

15:10 - Antonino's thoughts on exchanges, and why he doesn't use them

17:57 - Running a basketball betting syndicate, and how it operates

21:25 - The difference between PPH and an agent system

23:54 - Building a model to create an edge

25:00 - Betting at scale using a network of runners

30:48 - How Antonino would like to see the betting industry evolve

32:46 - Stake factoring versus guaranteed minimum bet limits

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Hosted on Acast. See acast.com/privacy for more information.

E204 - Matt Restivo from OddsJam Mar 01, 2024

Show notes

On this episode of the Business of Betting Podcast, Jason is joined by Matt Restivo from OddsJam.

Hear them discuss:

01:00 - Life in Boulder, CO

02:46 - The recent ruling on the 14th Amendment in CO

04:45 - Introduction to OddsJam

07:07 - Overview of arbitrage and value betting

10:48 - Preserving betting account longevity

13:30 - 10-year vision for OddsJam

14:52 - Sourcing pricing data to power OddsJam's tools

17:06 - OddsJam founding story

18:55 - Company size and traction

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Hosted on Acast. See acast.com/privacy for more information.

E203 - Will Martin from LiveDuel Feb 23, 2024

Show notes

On this episode of the Business of Betting Podcast, Jason is joined by Will Martin from LiveDuel.

Hear them discuss:

01:22 - The Irish political landscape

04:20 - Origin story of LiveDuel, and why Will felt a new exchange was needed in the market

08:15 - How LiveDuel is differentiating itself from the incumbent exchanges

09:54 - Will's opinion of what Smarkets could have done differently with its exchange

13:02 - How LiveDuel is utilizing blockchain technology, and why it is the right technology for sports betting

18:19 - The mechanics of DAO's and how that governance model can be applied to exchanges

21:02 - Benefits of blockchain technology for transaction processing

23:19 - How blockchain helps with liquidity provisioning through automated market making

27:19 - Using oracles to resolve markets through consensus

31:49 - Challenges of fundraising to build an exchange business

35:37 - Regulatory licensing strategy for LiveDuel

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Hosted on Acast. See acast.com/privacy for more information.

E202 - Manu Gambhir from Xpoint Feb 16, 2024

Show notes

On this episode of the Business of Betting Podcast, Jason is joined by Manu Gambhir from Xpoint.

Hear them discuss:

02:24 - Introduction to Xpoint

03:45 - The geolocation provider landscape in the US market

05:20 - Primer on geolocation regulatory requirements

07:50 - Competitive dynamic of geolocation providers in the US

11:26 - The technical complexity of building geolocation solutions

18:04 - Lawsuits and legal challenges around IP rights

20:27 - The regulatory complexities of operators building their own geolocation solutions internally

23:38 - Xpoint's commercial traction in the US market

25:56 - Manu's view on the state of the industry in the US

29:06 - Enforcement (or lack thereof) of offshore operators serving the US market

33:07 - What Manu wants to be when he grows up

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---

Hosted on Acast. See acast.com/privacy for more information.

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