1
00:00:00,440 --> 00:00:03,320
Speaker 1: Hello, I'm Evan Nobi Williams and I'm Michael bar and

2
00:00:03,400 --> 00:00:08,600
Speaker 1: this is the Bloomberg Business of Sports podcast, where, oh

3
00:00:08,640 --> 00:00:12,080
Speaker 1: my god, you said it just because Scott's not here,

4
00:00:11,640 --> 00:00:14,640
Speaker 1: we explore the big money issues in the world of sports.

5
00:00:14,800 --> 00:00:18,520
Speaker 1: Scott is out, So when the Cats away, the Mikes

6
00:00:18,560 --> 00:00:22,360
Speaker 1: will play. Evan and I will take you through some things.

7
00:00:22,360 --> 00:00:25,319
Speaker 1: Today we got to start. Um. It has been a

8
00:00:25,320 --> 00:00:30,760
Speaker 1: wild start to NBA free agency, and I'm so sorry

9
00:00:30,800 --> 00:00:34,040
Speaker 1: to put it this way, but the two words I

10
00:00:34,080 --> 00:00:38,240
Speaker 1: think of with the New York Knicks spontaneous combustion, because

11
00:00:38,240 --> 00:00:42,040
Speaker 1: I don't understand how this just blew up like that. Yeah,

12
00:00:42,080 --> 00:00:44,640
Speaker 1: there there are certainly some winners and losers in the

13
00:00:44,680 --> 00:00:48,280
Speaker 1: first you know, twelve hours of NBA free agency. The

14
00:00:48,360 --> 00:00:50,440
Speaker 1: Knicks are not all the winner's column, and we'll get

15
00:00:50,479 --> 00:00:51,760
Speaker 1: to that in a second, But first I'm gonna hit

16
00:00:51,760 --> 00:00:53,920
Speaker 1: you with some numbers. In the first six hours of

17
00:00:54,320 --> 00:00:58,480
Speaker 1: NBA free agency, forty agreements were reported to be agreed

18
00:00:58,520 --> 00:01:03,000
Speaker 1: to two points seven three billion dollars of salary given out,

19
00:01:03,040 --> 00:01:08,280
Speaker 1: including six three million just for next season alone. Some

20
00:01:08,440 --> 00:01:12,039
Speaker 1: Twitter NBA obviously trending all across Twitter three point eight

21
00:01:12,040 --> 00:01:15,240
Speaker 1: million tweets in those first six hours about various deals

22
00:01:15,280 --> 00:01:18,680
Speaker 1: including KD and Kyrie going to the Nets, you know,

23
00:01:18,840 --> 00:01:21,880
Speaker 1: the D'Angelo Russell over to Golden State, a few other

24
00:01:21,920 --> 00:01:23,959
Speaker 1: big deals that we can talk about. Um, but no

25
00:01:24,120 --> 00:01:26,920
Speaker 1: question that from a top line standpoint, Uh, this is

26
00:01:26,959 --> 00:01:29,000
Speaker 1: a banner day for the NBA in terms of just

27
00:01:29,040 --> 00:01:33,039
Speaker 1: its popularity and its ability to dominate sports headlines during

28
00:01:33,040 --> 00:01:35,720
Speaker 1: a time when there are no games. Now, Kemba Walker,

29
00:01:35,800 --> 00:01:40,680
Speaker 1: he's going to the Celtics. Uh, but that means that

30
00:01:40,760 --> 00:01:43,600
Speaker 1: we mentioned one already about Kyrie Irving Lea and Al

31
00:01:43,680 --> 00:01:47,560
Speaker 1: Horford is leaving. There is rumors that he's going to Philadelphia.

32
00:01:48,120 --> 00:01:50,440
Speaker 1: So I mean, this is all what I what I

33
00:01:50,480 --> 00:01:54,400
Speaker 1: still do not get. God bless you Nick. How how

34
00:01:54,440 --> 00:01:57,880
Speaker 1: did they come out? Yeah, so we can discuss that

35
00:01:57,920 --> 00:01:59,960
Speaker 1: for for a second. This looks bad for the NICK

36
00:02:00,080 --> 00:02:03,000
Speaker 1: for a number of reasons, UM. Principally because the team

37
00:02:03,000 --> 00:02:06,000
Speaker 1: that made the biggest splash is you know, the second

38
00:02:06,400 --> 00:02:08,840
Speaker 1: sibling in in in the New York area, right. The

39
00:02:09,120 --> 00:02:12,160
Speaker 1: Brooklyn Nets moved to They moved to Brooklyn from New

40
00:02:12,240 --> 00:02:13,959
Speaker 1: Jersey in two thousand and twelve. You know, they haven't

41
00:02:14,000 --> 00:02:17,840
Speaker 1: been particularly good. They've had some actually downright terrible years. Uh,

42
00:02:17,840 --> 00:02:20,519
Speaker 1: and they have always been second fiddle in this city.

43
00:02:20,600 --> 00:02:23,120
Speaker 1: You know, the Knicks that they play in a you know,

44
00:02:23,160 --> 00:02:26,000
Speaker 1: the most famous arena in the world, as they call it. Um.

45
00:02:26,040 --> 00:02:28,760
Speaker 1: You know, they are the richest and most valuable team

46
00:02:28,800 --> 00:02:31,800
Speaker 1: in in in basketball. They've always been this dominant force,

47
00:02:32,120 --> 00:02:33,760
Speaker 1: you know, and and the Knicks and the Nets. And

48
00:02:33,800 --> 00:02:36,080
Speaker 1: we had Shawn Marks the GM on the podcast a

49
00:02:36,120 --> 00:02:37,960
Speaker 1: couple of weeks ago, right, and we talked about this, right,

50
00:02:38,000 --> 00:02:40,440
Speaker 1: like the things that they're trying to do to kind

51
00:02:40,480 --> 00:02:43,720
Speaker 1: of encroach a little bit into New York Knicks territory. Uh,

52
00:02:43,760 --> 00:02:46,320
Speaker 1: this seems like the biggest thing they've done. Right. This

53
00:02:46,440 --> 00:02:48,520
Speaker 1: is at a time when and this is the thing

54
00:02:48,560 --> 00:02:52,079
Speaker 1: that that that gets me. The Knicks had everything in

55
00:02:52,120 --> 00:02:54,600
Speaker 1: their favorite right. They had a ton of cap space,

56
00:02:54,919 --> 00:02:56,639
Speaker 1: They got a high draft pick, they took R. J.

57
00:02:56,760 --> 00:03:00,280
Speaker 1: Barrett from Duke Um. There was excitement about him. Everything

58
00:03:00,280 --> 00:03:03,000
Speaker 1: seemed to be lining up well. And then free agent starts,

59
00:03:03,040 --> 00:03:05,480
Speaker 1: and not only did the Knicks come up essentially empty handed,

60
00:03:05,680 --> 00:03:08,960
Speaker 1: but the principal rival in their market is the one

61
00:03:09,000 --> 00:03:11,359
Speaker 1: that makes the Hall. Yeah, so what does Jim Dolan

62
00:03:11,440 --> 00:03:14,560
Speaker 1: do now? I mean, there's still they're still still free

63
00:03:14,600 --> 00:03:15,919
Speaker 1: agents out there, right you know, so there are a

64
00:03:16,000 --> 00:03:18,200
Speaker 1: number of big names that have yet to announce. Kawhi

65
00:03:18,320 --> 00:03:21,000
Speaker 1: Leonard certainly the big one there. Um. I don't know

66
00:03:21,040 --> 00:03:23,360
Speaker 1: if you saw, but Steve Mills, who runs the Knicks,

67
00:03:23,360 --> 00:03:27,320
Speaker 1: put out a statement yesterday essentially addressing the frustration that

68
00:03:27,400 --> 00:03:30,520
Speaker 1: Knicks fans were feeling. Um, it's not this is an

69
00:03:30,520 --> 00:03:33,600
Speaker 1: indictment of where the Knicks are as a franchise. Sure,

70
00:03:33,639 --> 00:03:36,920
Speaker 1: they're the most valuable team in the NBA. They probably have,

71
00:03:37,520 --> 00:03:41,480
Speaker 1: next to the Lakers, the biggest global brand recognition, but

72
00:03:41,560 --> 00:03:43,800
Speaker 1: team players don't seem to want to play there right there.

73
00:03:43,840 --> 00:03:47,640
Speaker 1: There was a time when winning uh an NBA title

74
00:03:48,120 --> 00:03:50,600
Speaker 1: at Madison Square Garden for the Knicks was was thought

75
00:03:50,600 --> 00:03:53,440
Speaker 1: of to be the dream for any basketball player, right

76
00:03:53,480 --> 00:03:55,800
Speaker 1: That was the pinnacle of what you could achieve on

77
00:03:55,840 --> 00:03:58,320
Speaker 1: an NBA court. And it just doesn't seem, at least

78
00:03:58,360 --> 00:04:01,840
Speaker 1: not right now, that the best players in the world

79
00:04:01,880 --> 00:04:04,839
Speaker 1: are feeling that way about the Knicks now. And let's

80
00:04:04,880 --> 00:04:06,560
Speaker 1: keep in mind too, we should add now if you're

81
00:04:06,560 --> 00:04:10,120
Speaker 1: not an NBA fan, Yes, Kevin Durant is part of

82
00:04:10,120 --> 00:04:12,320
Speaker 1: this mix, but he's going to be out. He might

83
00:04:12,360 --> 00:04:15,000
Speaker 1: be out for the entire season because he picked up

84
00:04:15,040 --> 00:04:18,839
Speaker 1: that a killers tendon uh injury in the land was

85
00:04:18,960 --> 00:04:21,240
Speaker 1: the last game of the Golden State well the second

86
00:04:21,279 --> 00:04:23,599
Speaker 1: to last second. Yeah, yeah, it's a good point. So

87
00:04:23,600 --> 00:04:25,960
Speaker 1: so yeah, k Katie won't be won't be dressing for

88
00:04:25,960 --> 00:04:29,080
Speaker 1: the for the Nets next year. Um but and and

89
00:04:29,120 --> 00:04:31,240
Speaker 1: again at the time will tell whether this was a

90
00:04:31,279 --> 00:04:33,799
Speaker 1: good deal for the Nets in terms of a basketball decision,

91
00:04:34,120 --> 00:04:38,000
Speaker 1: but from a business decision, especially given their relationship in

92
00:04:38,080 --> 00:04:41,279
Speaker 1: their home market with the dominant Knicks, this seems like

93
00:04:41,320 --> 00:04:44,359
Speaker 1: a pretty massive, massive deal. And you know, if you

94
00:04:44,400 --> 00:04:46,880
Speaker 1: work in sales for the Brooklyn Nets, you know in

95
00:04:46,960 --> 00:04:51,080
Speaker 1: terms of ticket sales, you know, merchandizing. I imagine yesterday, Christmas,

96
00:04:51,160 --> 00:04:53,400
Speaker 1: this weekend, right when when when you found out that

97
00:04:53,600 --> 00:04:55,239
Speaker 1: old Man, two of the best teams in the league

98
00:04:55,240 --> 00:04:57,200
Speaker 1: are are coming here all of a sudden, that black

99
00:04:57,200 --> 00:04:59,480
Speaker 1: and white logo man is going to be dancing all

100
00:04:59,520 --> 00:05:02,640
Speaker 1: over the play Yeah, and I don't look, what did

101
00:05:02,680 --> 00:05:04,800
Speaker 1: you were you able to avoid any of this over

102
00:05:04,839 --> 00:05:08,560
Speaker 1: the weekend? I mean, to me, it was bigger. I

103
00:05:08,560 --> 00:05:10,120
Speaker 1: know we got to move on, but this to me

104
00:05:10,440 --> 00:05:15,000
Speaker 1: was bigger than the NBA draft itself. I was like, wow,

105
00:05:15,120 --> 00:05:17,560
Speaker 1: I agree, And we talk a lot about the how

106
00:05:17,600 --> 00:05:21,240
Speaker 1: the NFL is this three league, right that that even

107
00:05:21,240 --> 00:05:24,080
Speaker 1: when NFL games aren't happening, there's so much attention about

108
00:05:24,160 --> 00:05:27,160
Speaker 1: the NFL and and the NBA certainly is not as

109
00:05:27,200 --> 00:05:29,880
Speaker 1: popular as the NFL. But the NBA is reaching this

110
00:05:29,960 --> 00:05:33,080
Speaker 1: point where big tent pole events, whether it's the start

111
00:05:33,080 --> 00:05:35,640
Speaker 1: of free agency, whether it's the draft as you mentioned,

112
00:05:35,760 --> 00:05:40,039
Speaker 1: are becoming these huge, huge media and social phenomenons, and

113
00:05:40,040 --> 00:05:42,320
Speaker 1: that's great for the league. We have to talk about

114
00:05:42,400 --> 00:05:46,080
Speaker 1: and give it up for the US women's soccer team.

115
00:05:46,480 --> 00:05:49,560
Speaker 1: They are going to play in the semi final. Well

116
00:05:49,720 --> 00:05:54,120
Speaker 1: for our date tomorrow. Uh, they'll play against England because

117
00:05:54,320 --> 00:05:57,880
Speaker 1: they beat France. That was that was a tough game,

118
00:05:57,880 --> 00:06:00,400
Speaker 1: by the way, I might yeah, yeah, so be beat

119
00:06:00,400 --> 00:06:04,159
Speaker 1: France in the quarterfinals, playing England on Tuesday in the semifinals. Uh.

120
00:06:04,200 --> 00:06:06,800
Speaker 1: This tournament continues really across the world, but here in

121
00:06:06,839 --> 00:06:10,400
Speaker 1: the US especially is getting more and more buzz. Right.

122
00:06:10,480 --> 00:06:13,599
Speaker 1: The ratings are are very good. That that France game

123
00:06:14,000 --> 00:06:17,760
Speaker 1: drew a six point three million viewers across digital and TV.

124
00:06:18,320 --> 00:06:20,680
Speaker 1: Of that, the majority obviously six point one million on

125
00:06:20,720 --> 00:06:23,360
Speaker 1: TV on Fox. To kind of put that in perspective,

126
00:06:23,640 --> 00:06:26,400
Speaker 1: it's the most watched Women's World Cup quarterfinal ever. It's

127
00:06:26,440 --> 00:06:29,000
Speaker 1: the most watched soccer game in the US since the

128
00:06:29,040 --> 00:06:32,360
Speaker 1: men's World Cup final last year. Right, so that that's

129
00:06:32,360 --> 00:06:35,320
Speaker 1: a big number, um, and moving forward, I'd imagine this

130
00:06:35,360 --> 00:06:37,680
Speaker 1: game on Tuesday against England will get even more, which

131
00:06:37,720 --> 00:06:41,880
Speaker 1: brings up the next point. Used to be that you

132
00:06:41,920 --> 00:06:46,279
Speaker 1: would bundle the women's soccer games with the men, so

133
00:06:46,360 --> 00:06:47,960
Speaker 1: you had the man and then they say, okay, and

134
00:06:47,960 --> 00:06:51,960
Speaker 1: we'll throw in the women also. And now experts are wondering, Hey,

135
00:06:52,040 --> 00:06:53,520
Speaker 1: you know what, I think the women can hang on

136
00:06:53,560 --> 00:06:56,440
Speaker 1: their own. Yeah, it's funny. So you're right. The b

137
00:06:56,640 --> 00:06:58,880
Speaker 1: the bid that Fox made to to grab the English

138
00:06:58,960 --> 00:07:01,680
Speaker 1: language rights to the to the World Cup men's broke up,

139
00:07:01,760 --> 00:07:04,279
Speaker 1: included the Women's World Cup, you know, and for a

140
00:07:04,320 --> 00:07:06,160
Speaker 1: long time that was kind of seen as a as

141
00:07:06,160 --> 00:07:09,000
Speaker 1: a throw in. Uh, probably less so now you know,

142
00:07:09,080 --> 00:07:13,240
Speaker 1: the women's final in two thousand fifteen against Japan drew

143
00:07:13,960 --> 00:07:17,640
Speaker 1: million viewers. It's the most watched English language soccer game ever. Right,

144
00:07:17,760 --> 00:07:20,440
Speaker 1: so suddenly it's not maybe not as much of a throwaway.

145
00:07:20,480 --> 00:07:22,840
Speaker 1: When when when the U S team is is advancing

146
00:07:22,840 --> 00:07:25,320
Speaker 1: to the finals and they're out drawing any game ever

147
00:07:25,720 --> 00:07:27,920
Speaker 1: that a men's Broke Cup has had here in the US,

148
00:07:28,280 --> 00:07:30,440
Speaker 1: UM and and and and the f A, you know,

149
00:07:30,480 --> 00:07:33,480
Speaker 1: the group that runs soccer out in England. They're currently

150
00:07:33,480 --> 00:07:36,640
Speaker 1: exploring this very topic right the idea of, hey, maybe

151
00:07:36,640 --> 00:07:39,440
Speaker 1: we break off all the broadcast rights for the women.

152
00:07:39,760 --> 00:07:42,240
Speaker 1: Maybe we saw them as a separate package. Maybe we're

153
00:07:42,240 --> 00:07:44,640
Speaker 1: at a point right now where that's more valuable to

154
00:07:44,800 --> 00:07:47,240
Speaker 1: us than bundling them together. This used to be back

155
00:07:47,280 --> 00:07:50,920
Speaker 1: in the day when they used to sell records, remember that.

156
00:07:51,120 --> 00:07:54,080
Speaker 1: And you have to side and the B side. I know, man,

157
00:07:54,160 --> 00:07:57,320
Speaker 1: this is this is long ago, and this is now

158
00:07:57,480 --> 00:07:59,480
Speaker 1: like all of a sudden, the B side is just

159
00:07:59,560 --> 00:08:02,680
Speaker 1: as good as the A side. Yeah. And we talked

160
00:08:02,720 --> 00:08:05,040
Speaker 1: with Christine Lily last week about a lot of these topics,

161
00:08:05,040 --> 00:08:07,120
Speaker 1: and we can touch on merchandizing actually for a second,

162
00:08:07,120 --> 00:08:10,120
Speaker 1: because Mark Parker, you know who runs Nike, said on

163
00:08:10,160 --> 00:08:13,400
Speaker 1: their earnings called last week this women's home jersey, the

164
00:08:13,400 --> 00:08:16,120
Speaker 1: the white women's home jersey, is the is the highest

165
00:08:16,120 --> 00:08:19,440
Speaker 1: selling jersey they've ever had in a single year, men's

166
00:08:19,560 --> 00:08:22,640
Speaker 1: or women's right, So so Not only are women delivering

167
00:08:22,640 --> 00:08:26,200
Speaker 1: here in ratings, they're delivering from a merchandizing standpoint. If

168
00:08:26,240 --> 00:08:28,480
Speaker 1: you go to Nike dot com right now, the women's

169
00:08:28,560 --> 00:08:31,200
Speaker 1: jersey sold out. They also sell the women's jersey in

170
00:08:31,240 --> 00:08:33,760
Speaker 1: a men's cut, which they did. Shout out to my

171
00:08:33,800 --> 00:08:37,520
Speaker 1: colleague Ira Boudway, who essentially, you know, he wrote about

172
00:08:37,559 --> 00:08:40,240
Speaker 1: it five years ago got Nike to change its policy

173
00:08:40,600 --> 00:08:42,880
Speaker 1: so that it would sell women's jerseys in a men's cut.

174
00:08:43,240 --> 00:08:46,120
Speaker 1: That jersey is also sold out. Um, there's a tremendous

175
00:08:46,120 --> 00:08:48,880
Speaker 1: amount of support here right now for what the women

176
00:08:48,920 --> 00:08:51,520
Speaker 1: are doing. The question I have for you is does

177
00:08:51,559 --> 00:08:55,120
Speaker 1: it translate into bigger business opportunities moving forward? Oh? Yeah,

178
00:08:55,160 --> 00:08:56,920
Speaker 1: because I was just gonna say for now, I got

179
00:08:56,920 --> 00:08:58,440
Speaker 1: to go on the black market to get my big

180
00:08:58,440 --> 00:09:02,880
Speaker 1: and Ropino jersey goes. I mean, it's that's I've always

181
00:09:02,880 --> 00:09:06,760
Speaker 1: wondered why that didn't happen sooner, because yes, you see

182
00:09:06,800 --> 00:09:10,640
Speaker 1: all the jerseys for the guys baseball and football, and

183
00:09:10,679 --> 00:09:12,600
Speaker 1: then you would see it in the in the women's

184
00:09:12,600 --> 00:09:14,599
Speaker 1: cut and this of that, and now you're seeing it

185
00:09:14,800 --> 00:09:17,160
Speaker 1: in reverse. Yeah, and I know I know people that

186
00:09:17,200 --> 00:09:19,680
Speaker 1: you know the big difference between the jersey designs are

187
00:09:19,679 --> 00:09:21,840
Speaker 1: a little different. But the big difference between the two

188
00:09:21,880 --> 00:09:23,160
Speaker 1: is that you know, you get a star on your

189
00:09:23,240 --> 00:09:25,319
Speaker 1: jersey for every World Cup you win, right, So the

190
00:09:25,800 --> 00:09:28,640
Speaker 1: US women's jersey has three stars over the crest and

191
00:09:28,679 --> 00:09:30,800
Speaker 1: the US men's jersey has no stars over the crest.

192
00:09:31,200 --> 00:09:33,520
Speaker 1: Um So certainly, I do I do know people that

193
00:09:33,559 --> 00:09:35,400
Speaker 1: would prefer to wear the jersey of the of the

194
00:09:35,440 --> 00:09:37,320
Speaker 1: U S team that wins versus the US team that

195
00:09:37,360 --> 00:09:40,600
Speaker 1: doesn't doesn't often doesn't even qualify, you know, for the

196
00:09:40,640 --> 00:09:43,760
Speaker 1: for the World Cup if you're talking the most recent one. Um,

197
00:09:43,840 --> 00:09:45,600
Speaker 1: but you know, we're seeing, you know, a number of

198
00:09:45,640 --> 00:09:48,040
Speaker 1: big names. Alex Morgan has always been a huge name.

199
00:09:48,480 --> 00:09:51,080
Speaker 1: Megan Rapino, who has been a star on this team

200
00:09:51,080 --> 00:09:53,560
Speaker 1: for a while, but maybe not you know, top tier famous.

201
00:09:53,679 --> 00:09:56,040
Speaker 1: I think is coming into her own right now, you know,

202
00:09:56,120 --> 00:09:59,079
Speaker 1: whether it's you know, attention she's getting for you know, pride,

203
00:09:59,200 --> 00:10:01,120
Speaker 1: you know prid Day was it was this weekend across

204
00:10:01,120 --> 00:10:03,760
Speaker 1: a number of countries. She's outspoken on that. She's been

205
00:10:03,760 --> 00:10:05,719
Speaker 1: outspoken about, you know, not wanting to go to the

206
00:10:05,720 --> 00:10:08,400
Speaker 1: White House. She scored the last four goals. You know,

207
00:10:08,440 --> 00:10:10,199
Speaker 1: that iconic photo of her with her hands up. I

208
00:10:10,200 --> 00:10:13,560
Speaker 1: don't know if you saw that, what a fantastic sports photo. Um.

209
00:10:13,840 --> 00:10:16,520
Speaker 1: She is kind of burgeoning into a big name star

210
00:10:16,640 --> 00:10:19,080
Speaker 1: right now. I do think that, you know, even if

211
00:10:19,160 --> 00:10:21,680
Speaker 1: they don't win the title in France in the next week,

212
00:10:22,000 --> 00:10:24,559
Speaker 1: I think there's gonna be a lot of commercial opportunity

213
00:10:24,840 --> 00:10:28,520
Speaker 1: for these women moving forward. And finally, let's talk about gambling.

214
00:10:28,679 --> 00:10:33,440
Speaker 1: You know, I would love to talk about the number

215
00:10:33,440 --> 00:10:37,800
Speaker 1: one state for the amount of cash bet on sports

216
00:10:37,920 --> 00:10:39,720
Speaker 1: in May. I'm just gonna let the audience kind of

217
00:10:39,920 --> 00:10:43,000
Speaker 1: stew on this for a second. Take a guess. Tick

218
00:10:43,040 --> 00:10:46,240
Speaker 1: tick tick tick tick tick tick tick tick time's up. Nope,

219
00:10:46,440 --> 00:10:50,640
Speaker 1: it's not Nevada. It is New Jerseys. Yeah, pretty milestone

220
00:10:51,040 --> 00:10:52,920
Speaker 1: shift here and and and to be clear, I'm not

221
00:10:52,960 --> 00:10:54,720
Speaker 1: sure if you know, every month, I don't think New

222
00:10:54,800 --> 00:10:57,600
Speaker 1: Jersey is going to top Nevada. Um. But we're almost

223
00:10:57,679 --> 00:11:01,360
Speaker 1: exactly a year into New Jersey offer ring sport legal

224
00:11:01,400 --> 00:11:04,439
Speaker 1: sports betting both on mobile and at brick and mortar

225
00:11:04,480 --> 00:11:07,720
Speaker 1: locations race tracks around the state. Um. And you know,

226
00:11:07,840 --> 00:11:12,079
Speaker 1: in in Juil in May, uh, they took three million

227
00:11:12,120 --> 00:11:15,160
Speaker 1: dollars in bets and and Las Vegas took three hundred

228
00:11:15,160 --> 00:11:18,520
Speaker 1: and seventeen million dollars in bets. Uh. So to me,

229
00:11:18,559 --> 00:11:20,840
Speaker 1: it's just a perfect kind of encapsulation. This is the

230
00:11:20,840 --> 00:11:24,199
Speaker 1: opportunity that exists for legal sports betting across the country

231
00:11:24,480 --> 00:11:27,040
Speaker 1: if it's done in the right way. Right. And when

232
00:11:27,040 --> 00:11:29,560
Speaker 1: I say the right way, I mean mobile. Yes, you

233
00:11:29,600 --> 00:11:32,000
Speaker 1: know you live in Pennsylvania. And then the mobile option

234
00:11:32,080 --> 00:11:34,000
Speaker 1: isn't you know, it isn't fully up yet, and I

235
00:11:34,000 --> 00:11:37,160
Speaker 1: imagine it's a it's a huge nuisance, it is, and

236
00:11:37,160 --> 00:11:40,000
Speaker 1: and and but see I drive through New Jersey to

237
00:11:40,080 --> 00:11:42,720
Speaker 1: get to Pennsylvania, so I want to place my bet.

238
00:11:43,120 --> 00:11:46,520
Speaker 1: I'll just you know, park the car and it's like, oh, okay,

239
00:11:46,600 --> 00:11:48,320
Speaker 1: let's see if the tiger is gonna lose another one,

240
00:11:48,400 --> 00:11:50,040
Speaker 1: and then you know, I'll make the bet and then

241
00:11:50,240 --> 00:11:54,400
Speaker 1: uh and then move on. But once Pennsylvania gets it

242
00:11:54,480 --> 00:11:58,240
Speaker 1: up and running for their app mobile app, I'm wondering

243
00:11:58,360 --> 00:12:00,920
Speaker 1: if New Jersey will see a hit because the New

244
00:12:01,000 --> 00:12:05,600
Speaker 1: Jersey gets Pennsylvania and New Yorkers the whole New York state. Yeah.

245
00:12:05,600 --> 00:12:07,240
Speaker 1: I think that's a really good point. And I'm in

246
00:12:07,280 --> 00:12:08,760
Speaker 1: the same boat as you are, right, I live in

247
00:12:08,840 --> 00:12:11,200
Speaker 1: Uptown Manhattan, and you know there are times when I've

248
00:12:11,320 --> 00:12:14,480
Speaker 1: run across the George Washington Bridge UM to get into

249
00:12:14,480 --> 00:12:16,640
Speaker 1: New Jersey, and and once I'm over there, obviously I

250
00:12:16,640 --> 00:12:19,680
Speaker 1: can open the phone and bets. New Jersey is definitely

251
00:12:19,720 --> 00:12:23,640
Speaker 1: benefiting from spillover effects from people who live in Pennsylvania

252
00:12:23,679 --> 00:12:26,559
Speaker 1: and live in New York, huge population areas who may

253
00:12:26,559 --> 00:12:29,440
Speaker 1: be gambling in New Jersey on their way through. Another

254
00:12:29,480 --> 00:12:32,400
Speaker 1: thing you see with Las Vegas or Nevada, you know,

255
00:12:32,480 --> 00:12:35,880
Speaker 1: statewide huge destination for big events. Right, So if you

256
00:12:35,880 --> 00:12:39,199
Speaker 1: look at the number the monthly numbers in February when

257
00:12:39,200 --> 00:12:42,000
Speaker 1: the when the Super Bowl happened, you know, Las Vegas,

258
00:12:42,000 --> 00:12:44,240
Speaker 1: Nevada was way above New Jersey. If you look at

259
00:12:44,240 --> 00:12:48,400
Speaker 1: March when March Madness happened, um again, Nevada way above

260
00:12:48,400 --> 00:12:50,640
Speaker 1: New Jersey. So I think we'll continue to continue to

261
00:12:50,679 --> 00:12:53,120
Speaker 1: see Nevada as the kind of the dominant state, at

262
00:12:53,160 --> 00:12:56,120
Speaker 1: least now when it comes to big events. But if

263
00:12:56,160 --> 00:12:58,280
Speaker 1: you take a random month like May, where there isn't

264
00:12:58,280 --> 00:13:00,000
Speaker 1: now it isn't a huge a lot of a huge

265
00:13:00,000 --> 00:13:02,439
Speaker 1: amout of stuff going on in the sports calendar, New

266
00:13:02,520 --> 00:13:07,760
Speaker 1: Jersey certainly, uh certainly taking out closing the gap there.

267
00:13:08,160 --> 00:13:10,560
Speaker 1: And I think that if you're a legislator around the country,

268
00:13:10,600 --> 00:13:12,000
Speaker 1: you know, this is the kind of thing that maybe

269
00:13:12,080 --> 00:13:14,320
Speaker 1: opens your eyes a little bit to the benefits of

270
00:13:14,400 --> 00:13:17,680
Speaker 1: mobile right. And those are conversations that are happening state

271
00:13:17,760 --> 00:13:20,640
Speaker 1: by state, and there's a lot of political and lobbying

272
00:13:20,720 --> 00:13:25,559
Speaker 1: slash business parts of that discussion. Um, but states when

273
00:13:25,559 --> 00:13:27,360
Speaker 1: we've seen it, you know, in a handful of states already,

274
00:13:27,360 --> 00:13:30,199
Speaker 1: states who legalize sports gambling but do not legalize the

275
00:13:30,240 --> 00:13:33,320
Speaker 1: mobile portion are losing out on a tremendous amount of

276
00:13:33,400 --> 00:13:37,000
Speaker 1: revenue and handle that way. This is the Bloomberg Business

277
00:13:37,000 --> 00:13:40,840
Speaker 1: of Sports podcast Michael Barr along with Evan Novie Williams.

278
00:13:40,880 --> 00:13:43,240
Speaker 1: We don't have Scott sash Neck this week, but we

279
00:13:43,280 --> 00:13:46,200
Speaker 1: are here later in the week every Monday, Wednesday, Thursday

280
00:13:46,200 --> 00:13:48,400
Speaker 1: exploring the world of money in sports. We missed you

281
00:13:48,440 --> 00:13:51,640
Speaker 1: scanning right here on Bloomberg Business of Sports from Bloomberg

282
00:13:51,760 --> 00:13:54,960
Speaker 1: Radio around the world and online wherever you get your pod.