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Speaker 1: Welcome to the Favorites, the podcast from the Volume Podcast Network.

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Speaker 1: I Am Chad Mellman. NFL season is starting in six weeks,

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Speaker 1: which means everybody is wondering can I bet legally in

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Speaker 1: my state? Because, in case you haven't noticed, over the

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Speaker 1: past three years, there has been a rapid expansion of

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Speaker 1: sports betting across the United States. Not only has it

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Speaker 1: been great for your friends here at the Action Network

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Speaker 1: and our corporate overlords at Better Collective, but it has

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Speaker 1: been a boon of employment opportunities for all of us

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Speaker 1: who have always thought, if only sports betting were legit,

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Speaker 1: I could spend my life focused on stuff like this.

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Speaker 1: So not only does our good friends Simon Hunter, my

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Speaker 1: co host, my bff, my companion, get to make a

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Speaker 1: living as a legitimate sports better in his home states

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Speaker 1: of New Jersey and Pennsylvania, but a very good friend,

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Speaker 1: Ryan Butler, who has spent his career tracking the legalization

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Speaker 1: of sports betting UH and now does it for us

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Speaker 1: at the Action Network, is going to come on because

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Speaker 1: consider this episode of the podcast. Consider this your get right,

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Speaker 1: get smart moment. This is going to be the thirty

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Speaker 1: forty minutes you need to truly understand, can I bet

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Speaker 1: legally in my state? If not? Will I be able

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Speaker 1: to bet legally my state by football? If not, when

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Speaker 1: will I be able to legally bet on sports in

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Speaker 1: my state? If not, will I ever be able to

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Speaker 1: bet legally on sports in my state? Ryan covers it

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Speaker 1: all for the Action Network. It is the most comprehensive

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Speaker 1: coverage of legalized sports betting in the country. No one

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Speaker 1: does it better than Ryan is quart of what we do. Simon,

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Speaker 1: how excited are you that Ryan is on the podcast?

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Speaker 1: I love it. Uh. I definitely have already picked his

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Speaker 1: brain a bunch before you even started, because I just

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Speaker 1: have so many questions, like everyone. Um. I just laughed

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Speaker 1: at myself jad thinking about what was it four years

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Speaker 1: ago that the Supreme Courts ruled on it? And I

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Speaker 1: just not that I'm so forward thinking, but I remember

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Speaker 1: just talking to the guys in Las Vegas and telling

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Speaker 1: them like, not that I'm at here, but pretty much

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Speaker 1: staying to them, this is the end of all everyone

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Speaker 1: living here in Vegas, Like, we can go live wherever

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Speaker 1: we want now and on nearveryone. New Jersey was the

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Speaker 1: first one approved that I said to them, this will

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Speaker 1: be the wild West and to this day, New Jersey

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Speaker 1: still have all the states, the craziest state of all

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Speaker 1: the states for Gamelan. I mean literally I have twenty

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Speaker 1: two sports books on my phone. Twenty two. So it's

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Speaker 1: just it's truly if you're a gambler, if you're a

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Speaker 1: sports bettor, it's paradise. It's like my instead of me

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Speaker 1: only even five six sports books that would take my action.

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Speaker 1: In Las Vegas, I literally have twenty sports books and

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Speaker 1: New Jersey that well, So it's truly a magical time

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Speaker 1: as a gambler. Well, listen, you are ahead of it.

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Speaker 1: Clearly I was ahead of it. Were uh you know,

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Speaker 1: we launched action in I left. I left ESPN in

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Speaker 1: September of seventeen. I can tell you exactly the time frame.

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Speaker 1: They legalized sports betting in May of January of two

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Speaker 1: thou eighteen. That is when it's not even three It's

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Speaker 1: barely three years when the Supreme Court overturned to the

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Speaker 1: Professional Amateur Sports Protection Act, right and they made it

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Speaker 1: legal for any state to authorize sports betting if they

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Speaker 1: chose to do so. Obviously, New Jersey was the one

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Speaker 1: that brought the suit, and New Jersey was the one

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Speaker 1: that had the first chance to legal life sports betting.

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Speaker 1: They were ready to roll. UM. I remember exactly where

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Speaker 1: I was, UH when it was decided, and I want

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Speaker 1: to get Ryan's take on this. Will bring him in

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Speaker 1: a second. It was decided that the Supreme Court would

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Speaker 1: hear the case. It was June of two thousand seventeen.

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Speaker 1: I had already started talking to Mike Kerrns of the

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Speaker 1: Churning Group UH and about them wanting to launch what

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Speaker 1: would become Action. It didn't never name yet, didn't have

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Speaker 1: anything yet, and they were asking me if I was

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Speaker 1: interested in leaving ESPN to join them and do it,

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Speaker 1: And of course I was like, it was everything that

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Speaker 1: I had always wanted to do with ESPN that ESPN

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Speaker 1: just was never going to get to. UM still still

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Speaker 1: not really getting to and UM only they wanted to

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Speaker 1: do it in a much bigger, broader, smarter way than

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Speaker 1: I could have ever possibly imagined. But I was still

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Speaker 1: hesitate about it, and I was what I was in

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Speaker 1: New York City. I was in the city for meetings

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Speaker 1: from you know when in in Connecticut, and I was

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Speaker 1: walking through the Time Warner Center in New York City,

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Speaker 1: and uh, I got an alert on my phone that

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Speaker 1: the Supreme Court had decided to hear the case, and

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Speaker 1: I immediately texted Currents and said, Wow, this just got

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Speaker 1: a lot more interesting. And I remember thinking to myself,

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Speaker 1: there's three things get that can happen, and two thirds

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Speaker 1: of the things that can happen are good for sports betting. One,

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Speaker 1: the Supreme Court takes the case and they decide, you

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Speaker 1: know what, the case has no merit. We're rejecting it.

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Speaker 1: Every every court that has decided against overturning past but

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Speaker 1: is right, and nothing changes. Blah blah blah. Part two,

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Speaker 1: New Jersey gets it, and then all of a sudden,

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Speaker 1: every other state has a roadmap to how to legalize

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Speaker 1: sports betting because New Jersey has set the roadmap. Three,

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Speaker 1: they overturned past but completely. I thought number two had

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Speaker 1: the biggest chance. I thought number three had the next

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Speaker 1: biggest chance. I didn't really think they to slap it

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Speaker 1: down completely. So in reality had at least a two

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Speaker 1: thirds chance, which is honestly why I decided to leave

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Speaker 1: ESPN is because I thought, all right, the Preme Court

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Speaker 1: is going to hear this case in six months. There's

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Speaker 1: a pretty good chance at least two thirds. I played

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Speaker 1: the odds. That was basically it. Uh, Ryan Butler, when

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Speaker 1: you saw the Supreme Court was going to hear the

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Speaker 1: case in two thousand and seventeen, what were you thinking, Yeah, well,

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Speaker 1: so you mentioned that the first scenario the worst case scenario.

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Speaker 1: The good thing about the Supreme Court when you were

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Speaker 1: kind of reading the tea leaves is when they take

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Speaker 1: up a case like that, it means that they have

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Speaker 1: a reason for doing so. They're not taking it up

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Speaker 1: just to swat it down. Now, maybe a content of

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Speaker 1: a very controversial issue, but no one was really overly

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Speaker 1: too concerned about sports betting. Um. It was a really

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Speaker 1: great you know, that was obviously great news that Also, remember, Chad,

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Speaker 1: what I was really sold was December um of that

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Speaker 1: year when they heard oral arguments, UM, and some of

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Speaker 1: the best Supreme Court of are yours ever during Ted

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Speaker 1: Stevens u s Artisan Ted Olson. Ted Stevens, a senator,

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Speaker 1: spoke for it, and it was pretty clear that the

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Speaker 1: Court was going to rule in that favor. So it

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Speaker 1: was really for me, my big like, ah, this is happening.

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Speaker 1: Was December and then it was just a matter of

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Speaker 1: time when they released it in May. But I do

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Speaker 1: remember those months leading up to it was like, okay,

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Speaker 1: it was maybe the last decision they announced that year

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Speaker 1: was one of the very last, so a little nerve,

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Speaker 1: but it was a really good sign. Even back then.

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Speaker 1: My favorite parts when they used to talk about the money,

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Speaker 1: because nowadays we see Darren tweets it out every month,

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Speaker 1: we cannot even imagine, I mean, how much the amount

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Speaker 1: of money nowadays it's people are gonna say, it's a lot.

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Speaker 1: It's it's so far ahead of where they even expected

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Speaker 1: just three years ago that that's what the growth. That's

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Speaker 1: gonna be the craziest part watching this thing grow, because

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Speaker 1: it's still one of these things that it's just been

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Speaker 1: growing at such a rate that you know, people always asking, go, well,

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Speaker 1: why the number is so high in New Jersey? People

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Speaker 1: are betting so much money in New Jersey? Is it

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Speaker 1: because people are coming from New York Again? I think

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Speaker 1: people are going to realize that even when New York

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Speaker 1: legalized that people, people are still gonna become a New

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Speaker 1: Jersey because there's so many more options in New Jersey. So,

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Speaker 1: like Ryan's gonna talk about each state, some states are

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Speaker 1: screwing this up. They're not really doing it the smartest

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Speaker 1: way and it's gonna affect their bottom line because states

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Speaker 1: like New Jersey, where it's the world West, our growth

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Speaker 1: is just gonna keep happening. People are gonna keep coming

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Speaker 1: here to bet just because it's so open. Yeah, look,

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Speaker 1: you're a right, And there's a couple of things I

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Speaker 1: want Ryan to answer before we dig in deep this

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Speaker 1: this I The idea for this podcast was of course

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Speaker 1: from Matt Mitchell, who's a genius. And my prediction is

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Speaker 1: that this will be one of those podcasts that people

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Speaker 1: listen to for the next two years, like trying to

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Speaker 1: get smart about sports betting. It's going to have a

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Speaker 1: ton of utility, a ton of value for people who

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Speaker 1: are trying to figure this out and what this means

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Speaker 1: for them as fans and its potential betters over the

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Speaker 1: long term. Uh Simon. There was a story an Esquire

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Speaker 1: in early or late in two thousand nineteen that indicated

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Speaker 1: of the handle in New Jersey came within two miles

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Speaker 1: of the state line of New York, which basically said

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Speaker 1: everybody was coming across the state uh to bet in

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Speaker 1: the parking lots of the supermarkets on the other side

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Speaker 1: of the George Washington Bridge, or you know, just outside

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Speaker 1: the Path train in Hoboken, which when we were in

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Speaker 1: Manhattan with our offices for Action Network, That's what we

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Speaker 1: did at lunch. We would jump in the path and

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Speaker 1: we would go across the go across the river and

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Speaker 1: New Jersey City and Hoboken. We'd stopped at a diner

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Speaker 1: on right outside the path train. Four of us would

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Speaker 1: sit in a booth. We would not talk to each

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Speaker 1: other for an hour. We would just sit there on

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Speaker 1: our phones, go to every single sports book, make the

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Speaker 1: best we want to make, have launch, and then get

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Speaker 1: back on the train. Um. But before Ryan, before we

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Speaker 1: get to that, you are covering sports betting from the

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Speaker 1: legaliz your perspective, it is a very niche subject. How

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Speaker 1: do you end up doing that? Um? But honestly, it

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Speaker 1: was the sad less interesting story was It was an

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Speaker 1: indeed ad that first got me interested in it. Um No,

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Speaker 1: I've been following along with it. I've been doing sports

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Speaker 1: and government for about ten years. I'm leading up to

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Speaker 1: sort of the writing on the wall we were talking

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Speaker 1: about with the pass but repeal the Spreme Court decision

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Speaker 1: done a little bit of both. Um. Chase some members

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Speaker 1: of Congress around and wasn't as glamorous as it sounds,

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Speaker 1: I've been, you know, covered sports at different levels, high school, college, professional,

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Speaker 1: you know, anything I could do. I bounced to a

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Speaker 1: lot of different publications, but I saw this opportunity. Um

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Speaker 1: it was with gambling dot Com group. Uh, looking through

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Speaker 1: it and it was just, you know, I thought, this

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Speaker 1: is something I could really do. I'm interested in this.

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Speaker 1: I'm pretty good at retaining all the different nuances and

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Speaker 1: different states. I joked Chad that I was one of

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Speaker 1: those kids that was really in the dinhasa wars going up,

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Speaker 1: and we would go to like museums and stuff, and

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Speaker 1: I would like point out corrections to like the museum

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Speaker 1: where they were wrong things like that. You know. I

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Speaker 1: was that I was into Pokemon, where I could kind

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Speaker 1: of memorize all their little powers and different stuff like that.

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Speaker 1: And I think this kind of comes in hand being

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Speaker 1: now where it is. It's fifty states with fifty different

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Speaker 1: laws and fifty very different political realities, different goals, different

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Speaker 1: really everything. So I think that has helped where it's

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Speaker 1: a good bounce. I'm definitely better at maybe memorizing trivial

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Speaker 1: facts than reporting or writing. So you had that all

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Speaker 1: together a little experience and some interest in sports gambling.

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Speaker 1: I think it's worked out pretty well. Personally. I think

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Speaker 1: it's worked out amazing and you appreciate it. And in

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Speaker 1: getting ahead of it all that, you mentioned two things, um,

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Speaker 1: Pokemon and dinosaurs. Pokemon and dinosas the disparities Simon's got

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Speaker 1: a Pokemon CARDI can sell you for four hundred thousand

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Speaker 1: dollars um. But the disparities in the way the States

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Speaker 1: are going about it. But before you get to that,

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Speaker 1: I have one follow up, which is which is how

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Speaker 1: are you seeing people react to the idea of being

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Speaker 1: a reporter that focuses on sports betting even in the

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Speaker 1: past three years. I mean you started with Action less

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Speaker 1: than a year ago, um, and had been writing for

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Speaker 1: us before that. But in the past three years, how

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Speaker 1: have people been responding to the idea that there is

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Speaker 1: a legit beat to be had here. Yeah, it's kind

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Speaker 1: of goes into two ways. UM. One of them, people

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Speaker 1: are usually just like, oh, kind of surprise and mildly interested.

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Speaker 1: A lot of people people bet all the time. There

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Speaker 1: was it's just such a you know, it was such

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Speaker 1: a misconception that they weren't. Every sports bar you go

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Speaker 1: into and This is really even before widespread legalization, people

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Speaker 1: are talking about their bets. They really are. You know,

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Speaker 1: it's been that way. Maybe it's a little more easier,

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Speaker 1: but it's also in some ways it's just as simple

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Speaker 1: as it's always been. There are thousands of other betting opportunities.

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Speaker 1: We're now just focused on these legal ones that are regulated,

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Speaker 1: that can help the customer, that can be better for everybody.

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Speaker 1: So there's that, and then it ties into the second

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Speaker 1: group where even my closest friends are kind of like,

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Speaker 1: how do you For a lot of reasons, they go,

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Speaker 1: how do you have a job, And they go like, well,

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Speaker 1: I can. I live in Florida now where sports betting

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Speaker 1: is not legal, But they go, what do you mean

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Speaker 1: sports betting is not legal? I have app X, Y,

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Speaker 1: and Z that I can bet on all the time.

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Speaker 1: And I'm like, well, that's you know, you can do that,

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Speaker 1: but it's technically not legal, And try to explain why

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Speaker 1: you know this is you know that the legal market

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Speaker 1: could benefit them, what's the importance of it, And then

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Speaker 1: trying to get into the Florida scenario, which is you know,

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Speaker 1: something of its own podcasts and it kind of lose

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Speaker 1: them there. But Yeah, it's I'd say for the most part,

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Speaker 1: it's been pretty good, if not, if not some confused

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Speaker 1: reactions and several respects. UM, I want to ask when

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Speaker 1: we're question, and then I let Simon jump in. Uh,

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Speaker 1: the political reality of how each state is going about

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Speaker 1: it makes covering this incredibly complicated. What are you seeing

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Speaker 1: in how states that are deciding to legalize sports betting?

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Speaker 1: How are they going about it? Well, I guess how

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Speaker 1: are they going about it? One of the biggest things

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Speaker 1: you look at is economic driver politically, is that maybe

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Speaker 1: the biggest motivation? UM, I kind of look at it.

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Speaker 1: I really think, not to get too deep in the

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Speaker 1: political weeds, I really look at I think the Republican

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Speaker 1: and Democratic parties, which by the way, that we've had

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Speaker 1: bipartisan support for every sports betting bill passed in the country.

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Speaker 1: Each of those two parties is really two wings of

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Speaker 1: their own party. And the Republican Party, you have one

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Speaker 1: group that is more fiscally oriented, business oriented, and one

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Speaker 1: group has more focused on so social issues things like that.

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Speaker 1: And in the Democrat party, similar kind of divide. One

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Speaker 1: that's maybe a little more business stuff like that, and

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Speaker 1: one a little more focused on social issues. The key

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Speaker 1: has been those two more central kind of economic, business

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Speaker 1: oriented focus groups coming together and creating these bills. So politically,

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Speaker 1: that's been the ramification um. One of the best examples

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Speaker 1: is Tennessee, politically very conservative state, a lot of religious

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Speaker 1: opposition to any form of gambling, one of the few

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Speaker 1: states without any casinos or horse tracks. Uh, there was

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Speaker 1: the business leadership that really kind of helped spark this. Again. Uh,

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Speaker 1: sports betting, these are big numbers and handle they're not

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Speaker 1: gonna change or state budgets. You know, New York State,

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Speaker 1: for example, has a two hundred billion dollar budget. Legalizing

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Speaker 1: sports betting is not going to change a whole lot

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Speaker 1: there for them and their budget, but it is an option,

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Speaker 1: and it's still money that they're losing in New York's case,

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Speaker 1: to New Jersey, or money they're losing offshore. So really

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Speaker 1: anything is a benefit there and that's been one of

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Speaker 1: the biggest pushes that plus just the reality that everyone

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Speaker 1: is doing this. The American Gaming Association a four past

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Speaker 1: the estimated a hundred and fifty billion dollars has wagered

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Speaker 1: illegally in the US every year. That number is way off.

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Speaker 1: It's significantly more. We don't know what the actual number is,

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Speaker 1: but it's significantly more than a hundred and fifty billion dollars.

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Speaker 1: But you extrapolate that across the fifty states, that's still money.

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Speaker 1: You know, it might be a drop in the bucket

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Speaker 1: for a state budget, but several hundred several million dollars

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Speaker 1: or New York's case for example, where they're estimating five

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Speaker 1: million dollars, that still means a lot. So that's really

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Speaker 1: been the biggest driver is if you can come across

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Speaker 1: that now real quick. Also, the biggest obstacle is I

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Speaker 1: would say forty states are going to legalize at some point.

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Speaker 1: But the biggest key now for the states that haven't

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Speaker 1: are who gets it? Is it gonna be? You know

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Speaker 1: which entity? Is it gonna be lottery? Is there gonna

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Speaker 1: be the casinos? Is gonna be the horse tracks? Is

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Speaker 1: it going to be all of them? Is there going

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Speaker 1: to be none of them? Dividing that up and figuring

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Speaker 1: that out is really maybe the biggest stumbling block. We

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Speaker 1: can talk a little bit more from what would stop. Really,

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Speaker 1: forty states have the political call, at least have the

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Speaker 1: political juice to get this done. Speaking of juice, ran

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Speaker 1: I have a juicy off here from our friends are

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Speaker 1: That means you go in a hundred and fifty dollars

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Speaker 1: Gambling problem called five to two four seven zero zero Colorado,

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Speaker 1: nine with It Indiana and went on Your Gambler in

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Speaker 1: New Jersey of Virginia. And speaking of legal sports betting,

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Speaker 1: it has become so mainstream. Where I became professional, inn

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Speaker 1: I didn't tell anyone what I did outside of like

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Speaker 1: close friends or relatives. Probably until the last year or two.

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Speaker 1: It was just very something you didn't talk about. And

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Speaker 1: then if you did talk about, only guys would think

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Speaker 1: it's cool. Women would run away from it. Guys would

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Speaker 1: be like, oh, like, well, who do you think is

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Speaker 1: gonna win tonight? The filing of their braves, And it's like,

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Speaker 1: I don't know, it doesn't really work like that. Like

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Speaker 1: I have friends dads who never placed a bed in

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Speaker 1: their life, and the guy's a Mets fan. He's betting now,

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Speaker 1: Like anytime to Ground starts, this guy's going into his

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Speaker 1: Draft Kings app. He's making bets again. FanDuel, this is

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Speaker 1: a little bit of a selfish question. Why is fandel

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Speaker 1: not public yet? Like all these other companies have become

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Speaker 1: public and I've I've just wondered FanDuel to me, they're

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Speaker 1: one of the best apps. They're growing huge too, Like

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Speaker 1: they've really blown up in Michigan like all these other

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Speaker 1: companies Republic, why is Fandel not stepped up become a

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Speaker 1: public trading company. Yeah. FanDuel is owned by a massive

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Speaker 1: European conglomerate, a Flutter Entertainment, which also owns Patty Power

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Speaker 1: and bet Fair, which are two of the biggest brands

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Speaker 1: in Europe. Now there's a lot of talk and they're

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Speaker 1: gonna spin them off, and that's probably going to happen

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Speaker 1: that they become a US based spinoff of publicly traded company.

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Speaker 1: Right now, it's just a lot of politics, logistical issues.

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Speaker 1: They're having some leadership changes, some different ideas. They're trying

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Speaker 1: to figure out what to do. The market is so rapid.

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Speaker 1: I again, I'm not that they necessarily can't say I

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Speaker 1: know anything um that anyone else doesn't know about Flutter

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Speaker 1: and their their long term plans of Vanduel, But yeah, FanDuel,

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Speaker 1: that's the reason why Draftings is its own company and

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Speaker 1: fan Duel is not right now, it's just because it's

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Speaker 1: part of a larger conglomerate and they just aren't really

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Speaker 1: moving at the moment. And one more selfic question, our

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Speaker 1: neighbors to the north, what's happened with Canada? You think

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Speaker 1: Canada will have full on sports, single game sports betting

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Speaker 1: by the NFL season or is that going to be

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Speaker 1: delayed because some of that's followed their government closely. God,

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Speaker 1: they take forever. Every every little thing takes a month.

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Speaker 1: So I'm just wondering, are they gonna have betting before

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Speaker 1: the NFL season. Yeah, Canada is not too much different

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Speaker 1: than the US in that respect. Takes a long time. Now,

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Speaker 1: I'm optimistic they have at all of intentions of getting

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Speaker 1: it done similar to the US. Uh, state by state,

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Speaker 1: They're gonna be province by province. But there's a lot

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Speaker 1: of talk that Ontario, which is the about I think

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Speaker 1: a fourth of the population that's um Toronto, a lot

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Speaker 1: of the you know, the closest um windsor there's a

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Speaker 1: lot of optimism that they'll be live um and there's

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Speaker 1: also British Columbia, which is Vancouver, so I would see

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Speaker 1: I think most provinces will be live by the end

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Speaker 1: of the year. Well we see something. Uh. The one

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Speaker 1: thing I'll say about FanDuel Sigmon is there's a pretty

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Speaker 1: intense legal negotiation going on and this is public between

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00:20:38,160 --> 00:20:42,639
Speaker 1: Fox Bet and Flutter over Fox Bets ownership Steak of

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Speaker 1: Fan Duel, and I think that is because they have

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Speaker 1: one currently and I think determining their value, the value

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Speaker 1: of that ownership steak uh and what fox Bets involvement

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Speaker 1: would be going forward. I think it's a big hold

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Speaker 1: up as to why Van Duel hasn't gone public. Get Ryan,

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Speaker 1: you can correct me if I'm wrong. No, that's a

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00:21:02,440 --> 00:21:04,399
Speaker 1: great point. I don't even bring up with it. I

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Speaker 1: think one other thing to look at is with this

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Speaker 1: New York bid, there is also this idea that maybe

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Speaker 1: had resolving this first and having them together, figuring out

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00:21:15,600 --> 00:21:18,080
Speaker 1: what that relationship is might be a piece in that

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00:21:18,119 --> 00:21:20,600
Speaker 1: bid as well. So those are all key things they're

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Speaker 1: going to be looking into before Fan Duel separating self.

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00:21:23,440 --> 00:21:25,120
Speaker 1: So it's gonna be that's I'm just so interesting because

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00:21:25,160 --> 00:21:28,679
Speaker 1: I'm heavily invested in DraftKings already and to me like

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Speaker 1: them in FanDuel Vandel is gonna be one of the

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Speaker 1: first in Florida, They'll be one of the first in

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Speaker 1: New York, They'll be one of the first Connecticut. That's

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Speaker 1: a big deal because it's all setting up for California.

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Speaker 1: We know that's the Golden Goose is California. I mean,

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Speaker 1: people think New Jersey's numbers are crazy. It's gonna be

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Speaker 1: a monthly billions of dollars in California. That's I feel

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Speaker 1: like it's and again we're talking about these these politicians

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Speaker 1: dragging their feet. The whole thing in California has just

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Speaker 1: blown my mind because that's a state that needs money

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Speaker 1: and literally we're talking monthly billions of dollars being left

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Speaker 1: on the table. So what's your long term view with California. Yeah,

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Speaker 1: California has a retail only sports betting ballot measure coming

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Speaker 1: up in So assuming that passes, which I think it has.

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Speaker 1: Every single ballot, every single sports betting ballot measure in

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Speaker 1: the country has passed in every state that's done it,

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Speaker 1: So I'm optimistic that will happen. That means retail sports

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Speaker 1: books will launch. Three online sports books, could be six,

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00:22:28,119 --> 00:22:31,439
Speaker 1: could be later. That is a whole different logistical issue.

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Speaker 1: So California is gonna it's gonna be a mess. And also,

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Speaker 1: unfortunately some time and I do have to say Vanduel

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Speaker 1: is coming to Connecticut. Good news for Chad that will

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Speaker 1: be they will be live in the fall. That that's

429
00:22:41,240 --> 00:22:44,440
Speaker 1: every indication that's good to go. New York and Florida

430
00:22:44,480 --> 00:22:48,159
Speaker 1: are not guarantees. They are both interested. Neither of them

431
00:22:48,160 --> 00:22:50,159
Speaker 1: are guarantees, and we can maybe dive into each of

432
00:22:50,160 --> 00:22:52,919
Speaker 1: those states more if you're interested. But there's a lot

433
00:22:53,000 --> 00:22:55,840
Speaker 1: of hold ups there as well. Well, let's let's do this,

434
00:22:55,920 --> 00:22:58,440
Speaker 1: because I do think we we've sort of spun ahead

435
00:22:58,520 --> 00:23:01,880
Speaker 1: quicker than I think we plan to. I think right

436
00:23:01,920 --> 00:23:07,080
Speaker 1: now level set foundationally as you can, and I would

437
00:23:07,080 --> 00:23:11,080
Speaker 1: remind everybody go to Action network dot com. In the

438
00:23:11,200 --> 00:23:18,400
Speaker 1: navigation there is a tab legalization tracker. It's so easy.

439
00:23:18,520 --> 00:23:22,000
Speaker 1: It's got all of Ryan's work. He updates on a

440
00:23:22,040 --> 00:23:26,480
Speaker 1: constant basis about what is happening in every state, every

441
00:23:26,520 --> 00:23:29,800
Speaker 1: bill that has passed, every measure that comes up for vote,

442
00:23:30,119 --> 00:23:33,320
Speaker 1: every time something flips the switch, some state flips the switch,

443
00:23:33,560 --> 00:23:35,919
Speaker 1: and all of a sudden, sports betting is legal in

444
00:23:35,920 --> 00:23:39,760
Speaker 1: that state. All of it easy to find in a

445
00:23:39,880 --> 00:23:44,639
Speaker 1: color coded map in the legalization tracker at Action network

446
00:23:44,680 --> 00:23:48,880
Speaker 1: dot Com. Check it out. But for those people who

447
00:23:48,960 --> 00:23:51,280
Speaker 1: don't want to use their fingers to get to the

448
00:23:51,359 --> 00:23:57,639
Speaker 1: legalization tracker, Ryan tell people right now where sports betting

449
00:23:57,720 --> 00:24:03,160
Speaker 1: is legal on line, meaning you can sit within your

450
00:24:03,160 --> 00:24:07,240
Speaker 1: house unfettered. You don't have to go anywhere, because I

451
00:24:07,280 --> 00:24:11,080
Speaker 1: know there are sort of different nuances. I just want

452
00:24:11,080 --> 00:24:13,800
Speaker 1: the places where you're sitting in your coach on Sunday

453
00:24:13,840 --> 00:24:16,399
Speaker 1: afternoon you decide you want to be a better you

454
00:24:16,400 --> 00:24:18,960
Speaker 1: can log on in bed. So you're ready for the

455
00:24:19,040 --> 00:24:22,359
Speaker 1: list as of right now and whenever people start listening

456
00:24:22,400 --> 00:24:27,199
Speaker 1: to this online remote sign up. Multiple options. All right, everybody,

457
00:24:27,200 --> 00:24:31,200
Speaker 1: you ready? It is Colorado, Illinois, though you must go

458
00:24:31,320 --> 00:24:36,800
Speaker 1: register in person if you haven't already, Indiana, Iowa, Michigan,

459
00:24:38,520 --> 00:24:42,480
Speaker 1: Nevada again have to go register in person. New Hampshire,

460
00:24:42,640 --> 00:24:44,960
Speaker 1: but you only have one sports book, which is DraftKings

461
00:24:45,560 --> 00:24:50,320
Speaker 1: New Jersey, Oregon, which you only have one option, which

462
00:24:50,400 --> 00:24:57,280
Speaker 1: is their Oregan lottery app called Scoreboard, Pennsylvania, Rhode Island,

463
00:24:57,400 --> 00:25:03,320
Speaker 1: which only has one option, which is William Hill, Tennessee, Virginia, Washington,

464
00:25:03,400 --> 00:25:06,919
Speaker 1: d C. Which only has two options, William Hill and

465
00:25:06,960 --> 00:25:09,400
Speaker 1: bet MGM. And then they're also their lottery app, which

466
00:25:09,440 --> 00:25:11,920
Speaker 1: is not great, which we've kind of become the joke

467
00:25:11,960 --> 00:25:14,679
Speaker 1: of the industry. And then West Virginia, so I know

468
00:25:14,720 --> 00:25:16,880
Speaker 1: I had to put little asterix on everything, but that's

469
00:25:16,960 --> 00:25:21,000
Speaker 1: kind of how it is. There is no one is

470
00:25:21,680 --> 00:25:24,440
Speaker 1: you know, consistent. There's always some differences, there's always a

471
00:25:24,480 --> 00:25:28,080
Speaker 1: little nuanced or difference, but really your best networks real quick.

472
00:25:28,200 --> 00:25:38,240
Speaker 1: If you are in Colorado, Indiana, Iowa, Michigan, New Jersey, Pennsylvania, Tennessee, Virginia,

473
00:25:38,720 --> 00:25:41,520
Speaker 1: now Washington, d C. In West Virginia, those are the

474
00:25:41,520 --> 00:25:44,480
Speaker 1: ones you're really in your best shape right now. So

475
00:25:44,560 --> 00:25:48,080
Speaker 1: that's what's amazing right ahead, That's what I was gonna say.

476
00:25:48,080 --> 00:25:51,680
Speaker 1: It's like the more professionals ever in my life. I've

477
00:25:51,720 --> 00:25:53,639
Speaker 1: moved to New Jersey and p A just because of

478
00:25:53,680 --> 00:25:57,440
Speaker 1: what he just said. It's it's literally I'm a fifteen

479
00:25:57,440 --> 00:26:00,199
Speaker 1: minute drive from p A. So again that means I

480
00:26:00,240 --> 00:26:02,640
Speaker 1: have well over thirty five sports books I can make

481
00:26:02,680 --> 00:26:05,879
Speaker 1: bets on right now. So it's just different where I

482
00:26:05,880 --> 00:26:07,280
Speaker 1: can go up to New York, I can go down

483
00:26:07,320 --> 00:26:09,399
Speaker 1: to Maryland and go to Delaware, go to p A,

484
00:26:09,600 --> 00:26:12,040
Speaker 1: go to New Jersey. It's just there's so many options

485
00:26:12,040 --> 00:26:13,919
Speaker 1: this little area where there's different parts of the country

486
00:26:13,920 --> 00:26:16,439
Speaker 1: where you might only have one or two sports books

487
00:26:16,480 --> 00:26:19,119
Speaker 1: for a thousand miles driven. So it's just very different

488
00:26:19,160 --> 00:26:21,359
Speaker 1: where there's parts of the country that are very laggy

489
00:26:21,560 --> 00:26:24,479
Speaker 1: where New Jersey. It's truly the wild West. There's just

490
00:26:24,520 --> 00:26:27,840
Speaker 1: so many options. It's a you will never find a

491
00:26:27,880 --> 00:26:31,440
Speaker 1: better time in history of a sports better than right now.

492
00:26:31,520 --> 00:26:34,040
Speaker 1: It's it's just very interesting. Well, I would argue that

493
00:26:34,119 --> 00:26:37,919
Speaker 1: you will find a better time because according to our

494
00:26:38,080 --> 00:26:43,600
Speaker 1: math and Ryan's reporting and all the available data, there

495
00:26:43,600 --> 00:26:51,520
Speaker 1: are currently eleven states slash districts, including d C, where

496
00:26:51,560 --> 00:26:56,439
Speaker 1: you can generally have unfettered online sports betting, meaning you

497
00:26:56,480 --> 00:27:00,000
Speaker 1: can sign up and I'm going to d C today. Uh,

498
00:27:00,200 --> 00:27:02,639
Speaker 1: I'm going to go to the new sports book at

499
00:27:02,720 --> 00:27:07,920
Speaker 1: the Capital One Arena tomorrow. Um. And those are the

500
00:27:07,960 --> 00:27:10,240
Speaker 1: only places where you can do it legally right now

501
00:27:10,320 --> 00:27:14,760
Speaker 1: online without having to do in person registration. Uh. I

502
00:27:14,800 --> 00:27:17,520
Speaker 1: forgot Elinoris. So it's really only ten that you can

503
00:27:17,520 --> 00:27:22,840
Speaker 1: do it because Illinois I counted um, which and oh

504
00:27:22,840 --> 00:27:25,240
Speaker 1: I'm sorry. Just also clarify too. I know this is

505
00:27:25,280 --> 00:27:28,160
Speaker 1: the great technical legalies. Washington d C has a lot

506
00:27:28,200 --> 00:27:30,360
Speaker 1: of limits on its sports books, so just a heads

507
00:27:30,440 --> 00:27:32,680
Speaker 1: up chat that it does. It is weird about where

508
00:27:32,720 --> 00:27:36,200
Speaker 1: could be access. Also, you can't bet on federal grounds,

509
00:27:36,240 --> 00:27:38,639
Speaker 1: which is like half of the city, so it gets

510
00:27:38,680 --> 00:27:41,960
Speaker 1: really walky. So they maybe maybe they should be on

511
00:27:42,000 --> 00:27:44,080
Speaker 1: a different list. They're not quite They're not as good

512
00:27:44,080 --> 00:27:46,680
Speaker 1: as like a New Jersey. You can basically bet within

513
00:27:46,720 --> 00:27:51,199
Speaker 1: three feet of Capital One Arena. And I know, and

514
00:27:51,240 --> 00:27:54,680
Speaker 1: I go, you are saying, Chad, but I'm you are.

515
00:27:55,040 --> 00:27:57,800
Speaker 1: I'm definitely a glass half full kind of person. But

516
00:27:58,040 --> 00:27:59,760
Speaker 1: New Jersey ten years from now, there you might be

517
00:27:59,760 --> 00:28:02,480
Speaker 1: only seven sports books or ten sports books left in Jersey.

518
00:28:02,480 --> 00:28:05,680
Speaker 1: It's not gonna It just doesn't make sense that there's

519
00:28:05,720 --> 00:28:08,439
Speaker 1: gonna be this many sports books long term. And again,

520
00:28:08,880 --> 00:28:11,240
Speaker 1: like he just told you, there's there's different sports books

521
00:28:11,240 --> 00:28:13,640
Speaker 1: where like certain states say they have two sports books.

522
00:28:14,320 --> 00:28:16,920
Speaker 1: If I get banned from one online, what does that mean?

523
00:28:17,200 --> 00:28:19,800
Speaker 1: Now I don't have any online sports books. So it

524
00:28:20,320 --> 00:28:22,639
Speaker 1: is it's gonna get better. At the same time, it's

525
00:28:22,640 --> 00:28:27,560
Speaker 1: gonna get harder where these companies are. Like again, there's

526
00:28:27,600 --> 00:28:29,960
Speaker 1: certain sports books I came the bet their boost or

527
00:28:30,000 --> 00:28:32,119
Speaker 1: do whatever, because they just they just don't let you

528
00:28:32,160 --> 00:28:34,080
Speaker 1: do that. I'm not the layman. Even it's fifty dollars,

529
00:28:34,119 --> 00:28:36,399
Speaker 1: They're not gonna let me get that down. So it

530
00:28:36,520 --> 00:28:39,000
Speaker 1: is one of those where it's I just think we're there.

531
00:28:39,040 --> 00:28:40,880
Speaker 1: The sports books haven't caught up to the pros yet

532
00:28:40,920 --> 00:28:42,920
Speaker 1: in a lot of ways. So for someone like me,

533
00:28:42,960 --> 00:28:45,440
Speaker 1: this is just the best time ever where I do

534
00:28:45,520 --> 00:28:48,200
Speaker 1: think in ten years it's not gonna be the way

535
00:28:48,240 --> 00:28:49,680
Speaker 1: it is right now. It's not gonna be as easy

536
00:28:49,720 --> 00:28:51,800
Speaker 1: to get down bets as is right now. Yeah, you

537
00:28:51,880 --> 00:28:55,479
Speaker 1: are kids in the candy stores, like multiple candy stores.

538
00:28:55,720 --> 00:29:00,000
Speaker 1: But Ryan, my point is there's ten eleven state slash

539
00:29:00,120 --> 00:29:03,400
Speaker 1: districts where you can do this. The ease of use

540
00:29:03,480 --> 00:29:08,320
Speaker 1: is high generally. Uh. We predict there will probably be

541
00:29:10,080 --> 00:29:15,719
Speaker 1: states that ultimately legalized sports betting. UM over the next say,

542
00:29:17,000 --> 00:29:23,000
Speaker 1: five to ten years. Can you tell me which means

543
00:29:23,040 --> 00:29:27,440
Speaker 1: that the ceiling on this is still so so high?

544
00:29:27,720 --> 00:29:30,000
Speaker 1: Like we got bought by a better collective for two

545
00:29:30,400 --> 00:29:34,520
Speaker 1: and forty million dollars uh, based on the fact that

546
00:29:34,680 --> 00:29:39,040
Speaker 1: last year there were a handful of these states that

547
00:29:39,120 --> 00:29:42,840
Speaker 1: were legal, right, And they're making the bet that the

548
00:29:42,880 --> 00:29:45,320
Speaker 1: more states that become legal, the higher the ceiling is

549
00:29:45,360 --> 00:29:47,680
Speaker 1: on our revenue. Because of the business that we're in.

550
00:29:48,400 --> 00:29:50,800
Speaker 1: I think they're making a pretty good bet. I'd like

551
00:29:50,920 --> 00:29:56,760
Speaker 1: to continue to be in this business. Um, What states, Ryan,

552
00:29:57,600 --> 00:30:03,480
Speaker 1: can we count on will have of legalized online registration

553
00:30:04,040 --> 00:30:07,680
Speaker 1: betting in the fall, either by the time football starts

554
00:30:07,960 --> 00:30:11,320
Speaker 1: or at some point before football lands. Yeah, so we

555
00:30:11,400 --> 00:30:14,080
Speaker 1: got four more on the horizon we're watching this year.

556
00:30:14,200 --> 00:30:16,640
Speaker 1: Maybe the best success story so far as in Arizona

557
00:30:16,760 --> 00:30:19,760
Speaker 1: statewide mobile we're gonna have it looks like five six

558
00:30:19,800 --> 00:30:23,760
Speaker 1: seven sports books. Live goal is September nine, the NFL

559
00:30:23,800 --> 00:30:26,200
Speaker 1: seas an opener. They are the first one to really

560
00:30:26,240 --> 00:30:28,640
Speaker 1: statewide mobile to really kind of put a date. That's

561
00:30:28,640 --> 00:30:31,040
Speaker 1: looking really good. I would say very early NFL season,

562
00:30:31,080 --> 00:30:34,280
Speaker 1: if not that season opener with multiple again multiple the

563
00:30:34,640 --> 00:30:38,440
Speaker 1: big industry leaders are there, so that's good news. Connecticut,

564
00:30:38,480 --> 00:30:41,880
Speaker 1: which is only going to have three um FanDuel DraftKings

565
00:30:41,880 --> 00:30:44,480
Speaker 1: in a a third mystery sports book to be determined.

566
00:30:44,800 --> 00:30:47,680
Speaker 1: They are also working really hard. They're looking good for

567
00:30:47,760 --> 00:30:50,600
Speaker 1: retail and in person by the fall, so that's you

568
00:30:50,600 --> 00:30:54,240
Speaker 1: know that again just limits. Then we have Louisiana and Maryland.

569
00:30:54,920 --> 00:30:57,320
Speaker 1: Maryland is gonna both of them are going to have

570
00:30:57,840 --> 00:31:01,000
Speaker 1: multiple options. Both are arguing this fall. Neither has a

571
00:31:01,040 --> 00:31:04,960
Speaker 1: specific date. Louisiana is parish by parish, which is their

572
00:31:05,080 --> 00:31:08,880
Speaker 1: county equivalent. Now it's all major metro areas in Louisiana

573
00:31:08,960 --> 00:31:11,360
Speaker 1: for anyone listening there. So if you're in Baton, Rouge,

574
00:31:11,400 --> 00:31:14,960
Speaker 1: New Orleans, Shreveport, anywhere like that, you'll be fine. Statewide

575
00:31:15,000 --> 00:31:17,680
Speaker 1: mobile as well, so those are there, and then um,

576
00:31:17,720 --> 00:31:20,600
Speaker 1: you know, a couple of retail options Nebraska, South Dakota,

577
00:31:20,720 --> 00:31:25,280
Speaker 1: Wisconsin are all looking for retail. Oh and I you know,

578
00:31:25,440 --> 00:31:28,480
Speaker 1: I forgot our friends out in Wyoming. Can't forget them.

579
00:31:28,800 --> 00:31:32,040
Speaker 1: They are also looking at statewide mobile this fall. So

580
00:31:32,080 --> 00:31:36,840
Speaker 1: we have five statewide mobile this fall, which is Arizona, Connecticut, Louisiana, Maryland,

581
00:31:36,920 --> 00:31:40,520
Speaker 1: and Wyoming. Arizona is the only one that is mentioned

582
00:31:40,520 --> 00:31:43,280
Speaker 1: a date. Every other one is sort of hoping sometime

583
00:31:43,400 --> 00:31:46,920
Speaker 1: by football, if not during football. Correct. Arizona is the

584
00:31:46,920 --> 00:31:49,480
Speaker 1: only one where the regulators are really putting a specific

585
00:31:49,560 --> 00:31:51,600
Speaker 1: date out. I was wondering if you could tell us,

586
00:31:51,720 --> 00:31:54,320
Speaker 1: as someone that does not trust the government at all,

587
00:31:54,400 --> 00:31:56,480
Speaker 1: especially with my money, where can I go to find

588
00:31:56,480 --> 00:31:58,440
Speaker 1: out what are they doing with this money that they're

589
00:31:58,440 --> 00:32:00,280
Speaker 1: getting from all the gambling revenue? Because I know it

590
00:32:00,360 --> 00:32:02,720
Speaker 1: is different state to state, right, it's not every state's

591
00:32:02,760 --> 00:32:04,880
Speaker 1: not one hat fits all. Where you know, the whole

592
00:32:04,920 --> 00:32:06,959
Speaker 1: marijuana thing about legalized are like well, we'll give all

593
00:32:06,960 --> 00:32:09,520
Speaker 1: the money to schools and different things like that. What

594
00:32:09,560 --> 00:32:11,480
Speaker 1: are they doing with this tax revenue, because we've seen

595
00:32:11,480 --> 00:32:14,640
Speaker 1: New Jersey average a hundred million dollars a month of

596
00:32:14,680 --> 00:32:17,960
Speaker 1: sports gambling. Where is that tax revenue going? Yeah, again,

597
00:32:18,000 --> 00:32:20,640
Speaker 1: that is is all over the place. So one example

598
00:32:20,680 --> 00:32:24,720
Speaker 1: is Colorado where they put it specifically for water conservation projects,

599
00:32:24,760 --> 00:32:26,920
Speaker 1: kind of an interesting one. A lot of them. Education

600
00:32:26,960 --> 00:32:30,360
Speaker 1: is a very popular one. That's Tennessee. Um, it can

601
00:32:30,400 --> 00:32:32,800
Speaker 1: be all over the place. A lot of states made

602
00:32:32,800 --> 00:32:35,320
Speaker 1: it with their general budget, which means they can put

603
00:32:35,360 --> 00:32:37,720
Speaker 1: it to anything. Um. Just something to note is, again,

604
00:32:37,720 --> 00:32:40,080
Speaker 1: we as an industry and we should be. It's great

605
00:32:40,120 --> 00:32:42,360
Speaker 1: that there's legal that there's these options. That these are

606
00:32:42,400 --> 00:32:45,360
Speaker 1: good is these are generating tax revenues. So we have

607
00:32:45,440 --> 00:32:50,880
Speaker 1: had about sixty one billion dollars wagered you know, since

608
00:32:51,000 --> 00:32:54,000
Speaker 1: and since past a day, which is great news. That

609
00:32:54,160 --> 00:32:57,800
Speaker 1: is generated six hundred million or so dollars and taxes,

610
00:32:58,120 --> 00:33:00,280
Speaker 1: which you know, again is great news. Is that six

611
00:33:00,680 --> 00:33:03,120
Speaker 1: million dollars we didn't have otherwise. But to keep that

612
00:33:03,160 --> 00:33:06,840
Speaker 1: in mind that most state budgets are you know, hundreds

613
00:33:06,840 --> 00:33:10,120
Speaker 1: of millions of dollars by themselves, in New Jersey. New

614
00:33:10,200 --> 00:33:13,480
Speaker 1: Jersey has generated about a hundred and fifty million. That's awesome,

615
00:33:13,520 --> 00:33:16,760
Speaker 1: but in comparison, that's a small fraction of their overall budgets,

616
00:33:16,840 --> 00:33:18,600
Speaker 1: So you know what that goes to. It just really

617
00:33:18,640 --> 00:33:21,840
Speaker 1: depends on your state. It's usually good things roads, schools,

618
00:33:22,320 --> 00:33:25,080
Speaker 1: maybe water conservation if you're in Colorado, stuff like that.

619
00:33:25,120 --> 00:33:28,600
Speaker 1: But yeah, again, it really does change state I stay. Unfortunately,

620
00:33:28,600 --> 00:33:30,840
Speaker 1: they're just not enough time to really kind of dive

621
00:33:30,880 --> 00:33:34,800
Speaker 1: into where those text dollars are actually going and handle

622
00:33:34,880 --> 00:33:39,920
Speaker 1: six hundred million in taxes not very much. So the

623
00:33:40,040 --> 00:33:45,040
Speaker 1: argument and everybody was making when PASSA was overturned was

624
00:33:45,960 --> 00:33:49,840
Speaker 1: state confers need help legalized sports betting, it will solve

625
00:33:50,000 --> 00:33:55,800
Speaker 1: all ills. Clearly that is not the case. So looking forward,

626
00:33:56,560 --> 00:34:00,640
Speaker 1: do you think that states will be le inclined to

627
00:34:00,720 --> 00:34:04,960
Speaker 1: legalize because the boon that they expected isn't there. Will

628
00:34:05,040 --> 00:34:09,279
Speaker 1: they be status quo? Will this have an impact? What

629
00:34:09,360 --> 00:34:12,279
Speaker 1: do you think that's sort of the the ceiling on

630
00:34:12,560 --> 00:34:16,440
Speaker 1: tax revenue return? What kind of impact does that have

631
00:34:16,520 --> 00:34:19,880
Speaker 1: on people want to illegalize going forward? So it's definitely

632
00:34:19,920 --> 00:34:23,919
Speaker 1: not going to really spark any more interest because it's

633
00:34:23,960 --> 00:34:26,960
Speaker 1: not huge tax dollars, but it's also not really going

634
00:34:27,000 --> 00:34:30,400
Speaker 1: to hurt it at this point. Again, it's still something

635
00:34:30,719 --> 00:34:33,440
Speaker 1: which is again better than nothing. And one of the

636
00:34:33,520 --> 00:34:36,520
Speaker 1: key things we also look at you brought I could

637
00:34:36,520 --> 00:34:38,400
Speaker 1: have brought it up earlier. One of the political drivers

638
00:34:38,680 --> 00:34:41,120
Speaker 1: is what are your neighbors doing, especially in states that

639
00:34:41,200 --> 00:34:44,520
Speaker 1: share metro areas. Uh, New York the exception, which is

640
00:34:44,600 --> 00:34:47,040
Speaker 1: kind of dragged their feet, but New Jersey and Pennsylvania

641
00:34:47,040 --> 00:34:50,279
Speaker 1: and Delaware and Maryland and Virginia and West Virginia, it's

642
00:34:50,320 --> 00:34:52,440
Speaker 1: not it's not a coincidence that all of them have

643
00:34:52,520 --> 00:34:55,000
Speaker 1: kind of legalized around the same time. Those A lot

644
00:34:55,000 --> 00:34:57,840
Speaker 1: of those states share cross border traffic with one another

645
00:34:57,960 --> 00:35:00,640
Speaker 1: or another state there. That's your big thing too, is

646
00:35:00,760 --> 00:35:03,480
Speaker 1: are you losing revenue to another state even if you're

647
00:35:03,480 --> 00:35:05,680
Speaker 1: not making big revenue. One of the big things I

648
00:35:05,719 --> 00:35:08,239
Speaker 1: look at that for is Kansas and Missouri, which are

649
00:35:08,239 --> 00:35:11,120
Speaker 1: two of the big targets. They've introduced sports betting bills

650
00:35:11,160 --> 00:35:13,799
Speaker 1: every year since passpot was repealed, and they just can't

651
00:35:13,840 --> 00:35:17,000
Speaker 1: get done for politics and some of those issues where

652
00:35:17,040 --> 00:35:18,840
Speaker 1: it's more so who gets the bill or you know,

653
00:35:18,840 --> 00:35:21,400
Speaker 1: who who gets the access to sports betting? So but

654
00:35:22,239 --> 00:35:23,960
Speaker 1: it's I kind of have joked about. I was speaking

655
00:35:23,960 --> 00:35:27,080
Speaker 1: with some Kansas lawmakers last week. Once one of them

656
00:35:27,160 --> 00:35:29,080
Speaker 1: does it, the other one is going to follow suit

657
00:35:29,120 --> 00:35:31,560
Speaker 1: because they're not gonna want to see Kansas City split

658
00:35:31,600 --> 00:35:33,879
Speaker 1: in half, and they are not going to be New

659
00:35:33,960 --> 00:35:36,279
Speaker 1: York is the one exception where they've been okay with

660
00:35:36,320 --> 00:35:39,920
Speaker 1: people taking a train to go into another state. They

661
00:35:40,000 --> 00:35:42,799
Speaker 1: go spend money. Most states don't like that. So when

662
00:35:42,800 --> 00:35:45,279
Speaker 1: you see that, you know, that's the remaining of that

663
00:35:45,520 --> 00:35:48,359
Speaker 1: group of states. We are at twenty one states now

664
00:35:48,680 --> 00:35:51,759
Speaker 1: that are that are taking bets UM already plus DC,

665
00:35:51,960 --> 00:35:55,040
Speaker 1: so twenty two out of fifty one jurisdictions, let's call it.

666
00:35:55,200 --> 00:35:57,719
Speaker 1: And we got another ten that are coming you know

667
00:35:57,880 --> 00:36:00,840
Speaker 1: in the next uh three to six months or so,

668
00:36:00,840 --> 00:36:03,120
Speaker 1: so we're gonna be at thirty one out of fifty one.

669
00:36:03,520 --> 00:36:05,799
Speaker 1: You know, the remaining I think about ten states, it's

670
00:36:05,840 --> 00:36:08,200
Speaker 1: going to be very politically difficult to get this done. Um.

671
00:36:08,239 --> 00:36:10,759
Speaker 1: That also includes Alaska and Hawaii because they don't have

672
00:36:10,960 --> 00:36:15,799
Speaker 1: that border pressure. But afterwards, it's just, you know, the

673
00:36:15,840 --> 00:36:17,960
Speaker 1: tax revenues are locked there. Up is not going to

674
00:36:18,040 --> 00:36:20,880
Speaker 1: be the factor in those reigning ten. It's gonna be politics,

675
00:36:20,920 --> 00:36:24,160
Speaker 1: and it's gonna be allocation, who gets what and why?

676
00:36:24,280 --> 00:36:27,680
Speaker 1: And how unbelievable? How dare you guys? Chads are reacting

677
00:36:27,680 --> 00:36:30,560
Speaker 1: like a hundred fifty millions nothing to making three years

678
00:36:30,560 --> 00:36:34,160
Speaker 1: in tax over New Jersey unbelievable. I like we just said,

679
00:36:34,160 --> 00:36:37,080
Speaker 1: I still think this is the first inning. It's it's

680
00:36:37,120 --> 00:36:40,200
Speaker 1: someone that lived in England. It's so everything. Gambling is

681
00:36:40,200 --> 00:36:42,560
Speaker 1: just so different. It's just a part of life. Everyone

682
00:36:42,640 --> 00:36:45,000
Speaker 1: you make bets with at the book or on your phone,

683
00:36:45,320 --> 00:36:47,400
Speaker 1: at the pub with your lads before even match. I

684
00:36:47,440 --> 00:36:50,640
Speaker 1: think that's in America will become all these different arenas,

685
00:36:50,640 --> 00:36:54,400
Speaker 1: having sports books everything. I mean just even trying to

686
00:36:54,400 --> 00:36:56,080
Speaker 1: do the math of what it's going to project out

687
00:36:56,120 --> 00:36:57,680
Speaker 1: ten to twenty years from now. Like my talk to

688
00:36:57,800 --> 00:37:01,320
Speaker 1: financial advisors, they can't get over it. They love gambling.

689
00:37:01,360 --> 00:37:03,239
Speaker 1: They just think that it's one of these things that's

690
00:37:03,280 --> 00:37:05,239
Speaker 1: just become a way of life. Everyone will go to

691
00:37:05,239 --> 00:37:08,080
Speaker 1: a sporting match, you'll buy your fifty dollar sports tickets

692
00:37:08,080 --> 00:37:09,920
Speaker 1: and you'll bet twenty dollars in your favorite team. It's

693
00:37:09,960 --> 00:37:11,239
Speaker 1: just going one of these things where it's gonna go

694
00:37:11,320 --> 00:37:14,240
Speaker 1: hand in hand. So again you're staying a hundred fifty millions,

695
00:37:14,280 --> 00:37:16,319
Speaker 1: not a lot for the first three years. I think

696
00:37:16,360 --> 00:37:18,279
Speaker 1: that's just gonna keep growing. I think that number will

697
00:37:18,360 --> 00:37:21,319
Speaker 1: keep going up, especially in these different states. Yeah really,

698
00:37:21,920 --> 00:37:24,120
Speaker 1: Oh yeah, it's just real quick. Yeah, no, a hundred

699
00:37:24,160 --> 00:37:26,320
Speaker 1: fifty Again, it's just how how do you look at it?

700
00:37:27,680 --> 00:37:30,160
Speaker 1: That's a lot of money that they otherwise wouldn't have had.

701
00:37:30,400 --> 00:37:32,680
Speaker 1: But it's also it's not going to solve all your

702
00:37:32,680 --> 00:37:35,239
Speaker 1: budget problems. Kind of what Chad says that they're yeah,

703
00:37:35,360 --> 00:37:37,520
Speaker 1: they're they're both. They're both true at the same time.

704
00:37:37,560 --> 00:37:38,840
Speaker 1: It's just kind of how you look at it. But

705
00:37:38,880 --> 00:37:40,680
Speaker 1: it's just better than going to some guy in the

706
00:37:40,719 --> 00:37:43,400
Speaker 1: Caribbean island. That's that's my whole point. That's why I

707
00:37:43,719 --> 00:37:46,000
Speaker 1: hate when these different states are like, well how much

708
00:37:46,080 --> 00:37:48,680
Speaker 1: were really making. It's like, okay, well don't do anything,

709
00:37:48,719 --> 00:37:50,680
Speaker 1: and some guy's gonna buy another house in Mexico. That

710
00:37:50,800 --> 00:37:52,880
Speaker 1: that that's my whole problem with what the whole system.

711
00:37:52,920 --> 00:37:55,080
Speaker 1: It's like, this is the money we should be keeping

712
00:37:55,120 --> 00:37:57,840
Speaker 1: in the country. So that's why I'm so happy, Like

713
00:37:57,880 --> 00:37:59,879
Speaker 1: you just said, ten more states, you're gonna be legal,

714
00:38:00,000 --> 00:38:01,840
Speaker 1: isn't it. The next couple of years it's it's one

715
00:38:01,880 --> 00:38:03,799
Speaker 1: of those where you really are missing out and just

716
00:38:03,840 --> 00:38:06,640
Speaker 1: revenue for your state by not donut. All right, Ryan,

717
00:38:06,920 --> 00:38:10,120
Speaker 1: you say ten more states over the next three to

718
00:38:10,160 --> 00:38:16,400
Speaker 1: six months. You mentioned Arizona, Connecticut, Louisiana, Maryland, Wyoming. That's five.

719
00:38:16,840 --> 00:38:19,000
Speaker 1: Are those included in the ten that you're talking about,

720
00:38:19,040 --> 00:38:21,160
Speaker 1: are you? Those are the ten that have are those

721
00:38:21,160 --> 00:38:23,279
Speaker 1: are ten that have already done it? Those are that

722
00:38:23,719 --> 00:38:25,520
Speaker 1: Those are five that have done it, five that have

723
00:38:25,560 --> 00:38:27,279
Speaker 1: already done it, and then we have five more that

724
00:38:27,280 --> 00:38:32,400
Speaker 1: have already done it. Who and that other five are Florida,

725
00:38:32,520 --> 00:38:36,160
Speaker 1: which is a big asterisk but technically has done it, Nebraska,

726
00:38:36,680 --> 00:38:41,920
Speaker 1: South Dakota, Washington, and Wisconsin, so they've all legalized it.

727
00:38:42,280 --> 00:38:45,840
Speaker 1: Legalization is a technical term. It's every state is a

728
00:38:45,840 --> 00:38:49,680
Speaker 1: little bit different. Some are tribal gaming compacts that are

729
00:38:50,200 --> 00:38:52,880
Speaker 1: it's a little legalization as a catch all term that

730
00:38:52,920 --> 00:38:55,160
Speaker 1: isn't specifically accurate that I want to clarify and try

731
00:38:55,200 --> 00:38:58,359
Speaker 1: not to confuse people. But yes, have gone forward for it.

732
00:38:58,560 --> 00:39:01,120
Speaker 1: So that's why I'm saying I think in early we're

733
00:39:01,120 --> 00:39:05,920
Speaker 1: gonna have thirty one plus these thirty two live. But again,

734
00:39:06,320 --> 00:39:10,239
Speaker 1: it doesn't matter for our purposes, for the purposes of

735
00:39:10,280 --> 00:39:13,080
Speaker 1: the people in the state, for the tax coffers. If

736
00:39:13,120 --> 00:39:16,439
Speaker 1: you do it retail only, it's a waste like it's

737
00:39:16,680 --> 00:39:20,040
Speaker 1: it's you're legalizing for optics, not because you actually believe

738
00:39:20,600 --> 00:39:23,759
Speaker 1: it's of any value. And it's just stupid and political.

739
00:39:23,840 --> 00:39:29,440
Speaker 1: And Illinois is the sort of is the epitome of

740
00:39:29,480 --> 00:39:34,320
Speaker 1: the political morass that sports betting legislation can get stuck

741
00:39:34,360 --> 00:39:38,680
Speaker 1: in because of how they initially said you can only

742
00:39:38,719 --> 00:39:41,800
Speaker 1: do it if you're betting retail, and then you log

743
00:39:41,840 --> 00:39:45,080
Speaker 1: in or you register when you're on site. Then when

744
00:39:45,280 --> 00:39:50,239
Speaker 1: when COVID happened and they needed more money, they suspended

745
00:39:50,239 --> 00:39:53,520
Speaker 1: that rule. Then COVID was receding, and so now they've

746
00:39:53,520 --> 00:39:59,640
Speaker 1: reenacted the rule. It's stupid. Florida, Nebraska, South Dakota, Washington, Wisconsin.

747
00:40:00,040 --> 00:40:03,040
Speaker 1: How many of those states will allow online betting? These

748
00:40:03,080 --> 00:40:05,920
Speaker 1: are all knows. Nebraska is a no, Washington is a no.

749
00:40:06,080 --> 00:40:09,040
Speaker 1: Wisconsin is a no. South Dakota is a no. Florida

750
00:40:09,120 --> 00:40:13,040
Speaker 1: is a maybe. Nebraska, South Dakota, Washington, Wisconsin, it all knows.

751
00:40:13,160 --> 00:40:14,879
Speaker 1: Those are all knows. So we don't give a funk

752
00:40:14,880 --> 00:40:20,200
Speaker 1: about those states. Yes, they have themselves from I say that,

753
00:40:20,239 --> 00:40:23,520
Speaker 1: but it's not meant to be sarcastic. If you can't

754
00:40:23,520 --> 00:40:27,440
Speaker 1: bet online legally, then it is a waste of the legislation,

755
00:40:27,520 --> 00:40:30,440
Speaker 1: and it is a waste of legalization because you're not

756
00:40:30,480 --> 00:40:32,520
Speaker 1: doing a service to any of the customers in that state.

757
00:40:32,920 --> 00:40:35,960
Speaker 1: So you can say thirty one states of legalized sports betting,

758
00:40:36,239 --> 00:40:40,120
Speaker 1: but the ceiling for those states continues to be higher

759
00:40:40,160 --> 00:40:42,359
Speaker 1: because those states then need to do a second round

760
00:40:42,360 --> 00:40:46,960
Speaker 1: of legislation to legalize online gaming. Do you see places

761
00:40:47,080 --> 00:40:55,759
Speaker 1: like Nebraska, South Dakota, Washington, Wisconsin legalizing online registration online

762
00:40:55,760 --> 00:40:59,439
Speaker 1: betting at some point in the future, not anytime soon

763
00:40:59,520 --> 00:41:01,600
Speaker 1: for any of those, and a lot of those are

764
00:41:01,719 --> 00:41:05,799
Speaker 1: tribal related issues, where for example, Wisconsin, it was not

765
00:41:05,920 --> 00:41:08,920
Speaker 1: a law per se, it was a an agreement with

766
00:41:08,960 --> 00:41:12,080
Speaker 1: the governor for a what's called a gaming compact that

767
00:41:12,160 --> 00:41:14,719
Speaker 1: allowed one tribe in Green Bay to open up a

768
00:41:14,760 --> 00:41:17,440
Speaker 1: sports book. Now, one of the ideas is a lot

769
00:41:17,440 --> 00:41:20,319
Speaker 1: of tribes are hesitant to do online sports betting, are

770
00:41:20,440 --> 00:41:22,960
Speaker 1: to embrace it because the idea is that if you

771
00:41:23,000 --> 00:41:25,680
Speaker 1: have more online gambling, you'll have less in person gambling.

772
00:41:26,000 --> 00:41:29,600
Speaker 1: Sports betting is a very low margin game, offering in

773
00:41:29,640 --> 00:41:32,480
Speaker 1: the gambling sphere. So there's kind of that idea. And

774
00:41:32,520 --> 00:41:34,600
Speaker 1: it's also keeping in mind that tribes are very very

775
00:41:34,640 --> 00:41:37,200
Speaker 1: different from state to state and within their own state,

776
00:41:37,800 --> 00:41:39,960
Speaker 1: which is there's bigger tribes that are making hundreds of

777
00:41:40,000 --> 00:41:43,040
Speaker 1: millions of dollars. They're smaller tribes, maybe a few dozen

778
00:41:43,080 --> 00:41:46,520
Speaker 1: people that that casino that maybe slot parlor is kind

779
00:41:46,520 --> 00:41:48,680
Speaker 1: of what's keeping them upfloat. So it's just a little

780
00:41:48,680 --> 00:41:51,320
Speaker 1: bit different um there to there. But those states that

781
00:41:51,360 --> 00:41:54,360
Speaker 1: I mentioned with the retail most of those are tribal states,

782
00:41:54,480 --> 00:41:56,480
Speaker 1: and it's just online is just not in the cards

783
00:41:56,600 --> 00:42:00,439
Speaker 1: right now, and it wouldn't be a while too that happens. Again,

784
00:42:00,480 --> 00:42:02,359
Speaker 1: I think kind of the bringing it up it is

785
00:42:02,760 --> 00:42:05,480
Speaker 1: it's something that we don't stress enough. When we do

786
00:42:05,520 --> 00:42:08,160
Speaker 1: say that thirty one states are legal or will be legal,

787
00:42:08,680 --> 00:42:11,640
Speaker 1: they are not nearly can grue it. There are such

788
00:42:11,719 --> 00:42:15,960
Speaker 1: discrepancies between a New Jersey and a Colorado versus a Delaware,

789
00:42:16,320 --> 00:42:20,200
Speaker 1: and like a Mississippi or in Arkansas. Arkansas is legal,

790
00:42:20,320 --> 00:42:23,880
Speaker 1: but it said three or four kind of rural books,

791
00:42:24,080 --> 00:42:27,200
Speaker 1: you know, like it's it doesn't really mean much at

792
00:42:27,239 --> 00:42:29,680
Speaker 1: all the verses where you know, even like a Tennessee

793
00:42:29,719 --> 00:42:31,440
Speaker 1: you can bet statewide the Tennessee is kind of on

794
00:42:31,440 --> 00:42:33,920
Speaker 1: that list of states we look at. And I have

795
00:42:34,040 --> 00:42:37,000
Speaker 1: to bring this up before you get out of here. Uh, taxes,

796
00:42:37,080 --> 00:42:40,200
Speaker 1: everyone's asking about taxes. I am not a tax lawyer

797
00:42:40,200 --> 00:42:42,360
Speaker 1: and neither are you. And I know, like you just

798
00:42:42,400 --> 00:42:44,520
Speaker 1: talked about every state, it's very different with their taxes.

799
00:42:44,560 --> 00:42:46,680
Speaker 1: So for the people wondering how they find out what

800
00:42:46,719 --> 00:42:48,520
Speaker 1: to do with taxes in their state, what what can

801
00:42:48,600 --> 00:42:50,680
Speaker 1: what kind of advice can you give them? So yeah,

802
00:42:50,680 --> 00:42:53,359
Speaker 1: I'd be very careful with everything here because again none

803
00:42:53,360 --> 00:42:55,920
Speaker 1: of us are our experts on this. According to the law,

804
00:42:56,000 --> 00:42:58,560
Speaker 1: it's six D dollars or more. Technically you are to

805
00:42:58,680 --> 00:43:01,360
Speaker 1: pay taxes on your sports any winnings. There is a

806
00:43:01,400 --> 00:43:04,040
Speaker 1: forum called the W two G to look out for

807
00:43:04,320 --> 00:43:07,160
Speaker 1: that's kind of might help with that. But um, also

808
00:43:07,239 --> 00:43:10,279
Speaker 1: just talk to please talk to your your tax preparation

809
00:43:10,440 --> 00:43:13,719
Speaker 1: services or someone like that. Every state is different, every

810
00:43:13,800 --> 00:43:17,120
Speaker 1: sometimes counties are different. There's additional fees and levies and

811
00:43:17,120 --> 00:43:19,200
Speaker 1: all that. So so look into that and just be

812
00:43:19,280 --> 00:43:21,480
Speaker 1: a heads up. That is a great question. The answer

813
00:43:21,520 --> 00:43:23,719
Speaker 1: is yes, if you win money on sports succeeding six

814
00:43:24,080 --> 00:43:26,160
Speaker 1: dollars in one state. You are going to have pay

815
00:43:26,239 --> 00:43:30,759
Speaker 1: taxes on that, So please do Ryan before we do

816
00:43:30,880 --> 00:43:35,040
Speaker 1: let you go. Are you as optimistic as I am

817
00:43:35,120 --> 00:43:42,000
Speaker 1: about the opportunity and growth for online mobile wagering or

818
00:43:42,080 --> 00:43:45,239
Speaker 1: do you feel that more states will be idiotic and

819
00:43:45,280 --> 00:43:52,280
Speaker 1: make uh optics only legalization their choice? Of the states

820
00:43:52,280 --> 00:43:54,640
Speaker 1: that are left, which is are the big ones here,

821
00:43:55,040 --> 00:43:58,480
Speaker 1: um some of the So we look at Texas, possibly Florida,

822
00:43:58,520 --> 00:44:00,919
Speaker 1: which is caught up in a big shoe. New York

823
00:44:01,120 --> 00:44:03,640
Speaker 1: is advancing towards online sports betting, though it is a

824
00:44:03,680 --> 00:44:08,840
Speaker 1: really odd system. California possibly down the road. Um those states,

825
00:44:08,920 --> 00:44:13,520
Speaker 1: also Ohio and Massachusetts, in North Carolina. Three more states

826
00:44:13,560 --> 00:44:16,400
Speaker 1: that we haven't even mentioned yet, all of them are

827
00:44:16,440 --> 00:44:19,799
Speaker 1: considering online. So those are good signs. The reasons some

828
00:44:19,840 --> 00:44:22,200
Speaker 1: of those states I just mentioned, like your Wisconsin state

829
00:44:22,320 --> 00:44:24,880
Speaker 1: online wasn't a choice just because of some politics and

830
00:44:24,920 --> 00:44:28,320
Speaker 1: some other regulatory issues and things like that. The states

831
00:44:28,320 --> 00:44:30,040
Speaker 1: that are now looking at it, the ones that the

832
00:44:30,120 --> 00:44:34,399
Speaker 1: big targets, the big you know, population states, they're going

833
00:44:34,440 --> 00:44:37,120
Speaker 1: to pursue online if they can. Now. There can be issues,

834
00:44:37,160 --> 00:44:40,000
Speaker 1: there can be other concerns, but it's definitely something in interest.

835
00:44:40,239 --> 00:44:42,799
Speaker 1: California is gonna be a while. It probably won't be

836
00:44:42,920 --> 00:44:49,840
Speaker 1: until five, maybe later. Texas probably won't be until Florida

837
00:44:50,280 --> 00:44:53,279
Speaker 1: is a weird scenario where there's multiple venues and our

838
00:44:53,320 --> 00:44:56,600
Speaker 1: avenues towards legal sports betting. Possibly New York. We're not

839
00:44:56,640 --> 00:44:59,919
Speaker 1: looking into a launch until two um Ohio, and that's

840
00:45:00,000 --> 00:45:03,000
Speaker 1: she s two in North Carolina if they do so.

841
00:45:03,120 --> 00:45:05,960
Speaker 1: But yes, the long winded for these major states that

842
00:45:06,000 --> 00:45:08,640
Speaker 1: are left, we are definitely for the most part looking

843
00:45:08,680 --> 00:45:11,279
Speaker 1: at online. I don't expect a whole lot of just

844
00:45:11,440 --> 00:45:15,840
Speaker 1: retail only anymore. There is no point in wasting your time.

845
00:45:16,480 --> 00:45:19,080
Speaker 1: For anybody listening that, there's no point in waste your

846
00:45:19,120 --> 00:45:21,840
Speaker 1: time on retail only. It's just not worth it. Online

847
00:45:21,920 --> 00:45:24,840
Speaker 1: is eighty five pcent of handle, and that estimate might

848
00:45:24,840 --> 00:45:27,320
Speaker 1: be getting even higher and higher as we then market

849
00:45:27,320 --> 00:45:30,440
Speaker 1: matures and the live numbers. That's what you're can attest to.

850
00:45:30,480 --> 00:45:32,560
Speaker 1: The live betting, that's the biggest driver and a lot

851
00:45:32,600 --> 00:45:34,200
Speaker 1: of these sports books, so that that's what, like you

852
00:45:34,239 --> 00:45:37,600
Speaker 1: just said, it's such a wasted time. It's uneducated people

853
00:45:37,640 --> 00:45:39,960
Speaker 1: making huge decision on these states where they don't understand

854
00:45:39,960 --> 00:45:42,880
Speaker 1: they're just wasting time, because it's inevitable all these states.

855
00:45:42,880 --> 00:45:45,480
Speaker 1: If you're gonna have sports books, you're gonna do mobile.

856
00:45:45,520 --> 00:45:47,120
Speaker 1: It's just the way to go on so many of

857
00:45:47,120 --> 00:45:49,880
Speaker 1: these states. And it's it's the people making these decisions

858
00:45:49,920 --> 00:45:52,719
Speaker 1: are part time lawmakers that have full time jobs, and

859
00:45:53,400 --> 00:45:56,359
Speaker 1: they're none of them are experts on sports betting, and

860
00:45:56,400 --> 00:45:57,600
Speaker 1: none of them And I get it. You know, there's

861
00:45:57,640 --> 00:45:59,520
Speaker 1: a lot of concern Nebraska, there is a lot of

862
00:45:59,719 --> 00:46:02,919
Speaker 1: You can't bet on the corn Huskers when they play

863
00:46:03,160 --> 00:46:07,040
Speaker 1: in the state of Nebraska. That's probably the industry would

864
00:46:07,080 --> 00:46:09,600
Speaker 1: tell you that's not really sound policy, that makes really

865
00:46:09,640 --> 00:46:12,200
Speaker 1: no sense and won't protect them. But there was concern,

866
00:46:12,320 --> 00:46:14,600
Speaker 1: and you can get somebody who doesn't follow this very

867
00:46:14,640 --> 00:46:18,360
Speaker 1: closely or intimately like we do. So yeah, the fact

868
00:46:18,480 --> 00:46:21,440
Speaker 1: is to tie it all up. Three years later, we

869
00:46:21,560 --> 00:46:24,800
Speaker 1: got thirty one states that have crossed that line. Now

870
00:46:25,120 --> 00:46:28,320
Speaker 1: only about fifteen of them are really kind of statewide

871
00:46:28,360 --> 00:46:31,040
Speaker 1: mobile or are really what we're looking for. But we've

872
00:46:31,080 --> 00:46:33,400
Speaker 1: made a lot of progress in only three years. I

873
00:46:33,440 --> 00:46:36,040
Speaker 1: think overall we're looking up. There's a lot of issues

874
00:46:36,080 --> 00:46:38,440
Speaker 1: and logistics ahead of us. But for the most part,

875
00:46:38,800 --> 00:46:41,000
Speaker 1: you have to look glass half full this has been

876
00:46:41,000 --> 00:46:43,640
Speaker 1: a success in many ways. I agree, And I also

877
00:46:43,719 --> 00:46:49,080
Speaker 1: would say I don't mind the idea that brings in

878
00:46:49,640 --> 00:46:53,760
Speaker 1: a handful of states. Three, brings in another big state

879
00:46:54,239 --> 00:47:00,160
Speaker 1: and bring in Texas and California, because that just means

880
00:47:00,200 --> 00:47:03,319
Speaker 1: there's more revenue step ups and more opportunities for these

881
00:47:03,360 --> 00:47:07,120
Speaker 1: things to find even more efficient ways to operate and

882
00:47:07,480 --> 00:47:11,960
Speaker 1: better ways to drive economies of scale for sports betting

883
00:47:12,560 --> 00:47:15,919
Speaker 1: businesses like ours over the next three to four years.

884
00:47:15,920 --> 00:47:20,920
Speaker 1: So and it keeps me employed. Yeah, which I'm also

885
00:47:21,120 --> 00:47:27,360
Speaker 1: all in favor of Ryan Butler sports betting legalization analysts

886
00:47:27,400 --> 00:47:29,879
Speaker 1: for the Action Network. Check it out Action network dot com,

887
00:47:29,920 --> 00:47:33,839
Speaker 1: go to the legalization tracker Simon Hunter. This was very

888
00:47:33,920 --> 00:47:36,640
Speaker 1: valuable for both of us, I believe, honestly, it's one

889
00:47:36,680 --> 00:47:38,840
Speaker 1: of my favorite shows we've done this entire season. I

890
00:47:38,840 --> 00:47:41,320
Speaker 1: can't believe how much knowledge you just dropped man, Especially

891
00:47:41,560 --> 00:47:43,839
Speaker 1: you gave me optimism about the future because there's just

892
00:47:43,880 --> 00:47:46,120
Speaker 1: so much growth. I feel like what you just said

893
00:47:46,160 --> 00:47:48,200
Speaker 1: is there's just so much room for growth. It just

894
00:47:48,239 --> 00:47:50,920
Speaker 1: made me really excited. Simon is really just waiting for

895
00:47:50,960 --> 00:47:55,560
Speaker 1: the chance to move to California. This has been the

896
00:47:55,680 --> 00:47:59,680
Speaker 1: favorites from the Volume podcast Network downlet us from Apple podcast,

897
00:47:59,719 --> 00:48:02,640
Speaker 1: from houtified, wherever you get your podcasts. We will be

898
00:48:02,680 --> 00:48:07,160
Speaker 1: back on Thursday with The thunder Door. Until next time,

899
00:48:07,920 --> 00:48:14,879
Speaker 1: I love you, M yeah