Show notes
On this episode of the Business of Betting podcast, Jason is joined by Greg Wolfe, CEO and co-founder of The Wolfline. Greg, an options trader turned sports betting analytics expert and advocate for consumer protection, shares his unique perspective on the industry.
Hear them discuss:
01:32 - How Greg got started in sports betting at just five years old
02:42 - His journey from betting and bookmaking to options trading
04:43 - Why he left the financial markets for sports betting analytics
07:50 - The high-hold, low-volume model in horse racing and its flaws
10:20 - Why sports betting hasn't modernized like financial markets
12:18 - Greg’s argument that sports betting contracts should be regulated as securities
15:40 - Applying the Howey Test to sports betting
19:50 - Whether sports betting meets the SEC's definition of a security
26:28 - The regulatory debate: Should the SEC or CFTC oversee sports betting?
30:20 - The SEC's reluctance to regulate and its impact on sports betting
32:10 - Consumer protection issues in sports betting and financial markets
33:50 - Data latency, front-running, and how sportsbooks exploit bettors
34:50 - Why Greg believes the leagues act as issuers of sports betting contracts
35:40 - Where to find Greg and his parting thoughts on industry ethics
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