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:

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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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.

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.

E201 - Paul King from OddsMonkey Feb 09, 2024

Show notes

On this episode of the Business of Betting Podcast, Jason is joined by Paul King from OddsMonkey.

Hear them discuss:

01:45 - a primer on matched betting & Paul's background with it

05:30 - the background and origins of OddsMonkey

07:50 - Paul's view of the sports betting industry

10:30 - bookmakers' attitudes towards matched betting

12:30 - the change over time in the value of bonus offers, and Paul's outlook for the future of bonusing

16:20 - the role that exchanges play in matched betting

19:55 - the ethics and legality of stake factoring and restricting customer accounts

27:07 - what Paul wants to be when he grows up

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

E200 - Joe Brennan Jr. from Prime Sports Feb 02, 2024

Show notes

On this episode of the Business of Betting Podcast, Jason is joined by Joe Brennan Jr. from Prime Sports.

Hear them discuss:

02:51 - using restaurant metaphors to explain Prime Sports' position in the market

10:52 - the parallels between the Costco shopping experience and sports betting

14:40 - why cricket is an underappreciated sport for betting

22:04 - the shift in how audiences are consuming live sports, and why that doesn't bode well for microbetting

24:37 - operating Prime Sports as "a reduced juice shop"

27:57 - where the red line is before the low-margin model is no longer viable in the US market

30:46 - why they think the current market leaders in US sports betting will change in the next 10 years

34:25 - what Joe would have done differently for Smarkets' US entry strategy

40:22 - what Joe wants to be when he grows up

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

E199 - David Frohardt-Lane from DL Trading Jan 30, 2024

Show notes

On this episode of the Business of Betting Podcast, Jason is joined by David Frohardt-Lane from DL Trading.

Hear them discuss:

01:09 - David's background in high frequency market making

03:22 - Why David invested in Sporttrade's Series A funding round

05:20 - The price sensitivity of American bettors

07:54 - Comparing financial trading to trading sports betting markets

10:15 - Deep dive on DL Trading's role as Sporttrade's principal market maker

14:22 - The challenges of trading sports at scale

16:39 - Attracting liquidity to betting exchanges

21:58 - Revisiting the 2020 US Presidential Election on betting exchanges, and thoughts on the upcoming 2024 election

25:03 - David's thoughts on Smarkets

26:44 - DL Trading's B2B ambitions

29:59 - What David wants to be when he grows up

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

E198 - Brad Allen from Eilers & Krejcik Jan 20, 2024

Show notes

On this episode of the Business of Betting Podcast, Jason is joined by Brad Allen from Eilers & Krejcik.

Hear them discuss:

01:34 - The origin of Brad’s weekly podcast, Zero Latency

03:05 - Brad takes control of the host chair and asks Jason questions

03:48 - Smarkets’ initial plans to enter the US market, and how that’s changed over time

06:46 - How Smarkets is localizing its core product to the US market

09:27 - Smarkets’ future prospects and opportunities in the US

11:31 - The allure of high margin products like same-game parlays

13:30 - Why Smarkets decided to build its own geolocation solution internally

17:17 - The B2B opportunity for Smarkets to commercialize its geolocation solution

18:58 - Brad’s view of the industry, and which operator he thinks could be a “game changer”

21:27 - Where ESPN Bet fits into the landscape since its launch

25:04 - Why Brad thinks that Rush Street Interactive is a good acquisition candidate

25:54 - What Brad wants to be when he grows up

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

E197 - Jacob Fortinsky from Novig Jan 16, 2024

Show notes

On this episode of the Business of Betting Podcast, Jason is joined by Jacob Fortinsky, co-founder & CEO of Novig.

Hear them discuss:

02:43 - The current controversy at Harvard, Jacob's alma mater

06:40 - Companies taking political stances, and how Jason and Jacob think about that within their companies

09:31 - Jacob's experience meeting Paul Graham, the founder of Y Combinator

12:04 - High concept overview of Novig

13:35 - Raising $7 million from investors to build Novig

15:30 - What Jacob thinks Jason should have done differently building Smarkets

17:48 - Attracting institutional liquidity providers to sports betting exchanges

20:05 - Sports betting as a zero sum game

24:14 - Price sensitivity of different customer segments

25:50 - Novig's recent launch in Colorado

29:42 - The Novig business model

31:09 - Why the Novig exchange had to launch as a fixed odds sportsbook

32:47 - What Jacob wants to be when he grows up

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

E196 - Paris Smith Dec 15, 2023

Show notes

On this episode of the Business of Betting Podcast, Jason is joined by Paris Smith, the former CEO of Pinnacle.

Hear them discuss:

00:47 - Thoughts on the US

02:45 - When Paris beat Jason in a poker tournament

06:42 - The low margin sportsbook model

10:37 - Her tenure at Pinnacle

13:53 - Comparing Pinnacle to bet365

16:31 - Her take on the exchange model

20:40 - Departing Pinnacle after 17 years as CEO

23:07 - The importance of getting peer support

26:14 - Life living in the Caribbean

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⚡️ Apply to be a guest: businessofbetting@gmail.com

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

E195 - Jesse Learmonth from The Betting Startups Podcast Dec 11, 2023

Show notes

On this episode of the Business of Betting Podcast, Jason is joined by Jesse Learmonth, host of The Betting Startups Podcast.

Jesse has interviewed almost 100 industry startup founders, and has a unique lens on the industry's early-stage ecosystem. He has been in the industry for 14 years as a founder, an executive at Pinnacle Sports, and advisor to several industry startups.

Timecodes:

00:54 - Launching The Betting Startups Podcast

04:01 - Choosing a podcast format

06:42 - Authenticity in interview-based podcasts

09:31 - Areas of pushback on startup founders

13:45 - Competing on price in sports betting

19:41 - Why the low-margin model isn't more mainstream

24:27 - Why BoB hasn't had a new episode in 3 months

25:27 - Partnership announcement between BoB and The Betting Startups Podcast

27:56 - Future plans for BoB and call for guests

30:29 - Jason and Jesse's boring video backgrounds

Get in touch: https://twitter.com/jasontrost