WEBVTT - NBA Gambling Scandal Reaction: Future of sports betting

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<v Speaker 1>The volume. Now it's time for this week's Redeemed Team Member,

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<v Speaker 1>brought to you by Hulu's Chad Powers. This week it's

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<v Speaker 1>Devonte Adams three touchdowns in London Rams crush the Jacksonville Jaguars.

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<v Speaker 1>Adams became the second player to have three touchdowns in

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<v Speaker 1>an international game. He and Stafford were dialed in. Chad

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<v Speaker 1>Powers is now streaming new episodes Tuesday on Hulu and

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<v Speaker 1>Hulu on Disney Plus for Bundle subscribers. Terms apply. Hi everybody,

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<v Speaker 1>it's Saturday. I don't do a ton of Saturday reactions

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<v Speaker 1>on my YouTube page for the volume. I've already settled

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<v Speaker 1>in watching some college football, got a good workout in

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<v Speaker 1>Like many of you, gonna go walk the dogs here

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<v Speaker 1>pretty quick. But I didn't think it was a really

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<v Speaker 1>interesting week with the story of Terry Rosier, Damon Jones,

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<v Speaker 1>the betting scandal in the NBA, and Chauncey Billups who

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<v Speaker 1>I mean, I've known so many people that have covered him,

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<v Speaker 1>liked him, respected him. But you have to look at

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<v Speaker 1>people based on actions, not ideals or not necessarily what

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<v Speaker 1>you think they are. Ultimately, people eventually show you who

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<v Speaker 1>they are with their actions and their personal life or

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<v Speaker 1>their professional life. But I think it's I wanted to

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<v Speaker 1>talk about this. So I've been doing sports talk to

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<v Speaker 1>radio and media for a long time plus thirty years.

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<v Speaker 1>And it all started in Las Vegas. Then I went

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<v Speaker 1>to Tampa. Then I went to Portland, Then I went

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<v Speaker 1>to ESPN, then I went to Fox. I've got great relationships,

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<v Speaker 1>but I've been around a long time, and anybody that

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<v Speaker 1>listened to me gosh back in Portland knows that I've

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<v Speaker 1>always been for basically, I mean, long before Barack Obama,

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<v Speaker 1>I was pro cannabis. I've always been pretty socially liberal

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<v Speaker 1>on that stuff. And I think anybody who's intellectually honest

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<v Speaker 1>would say I've been pro gambling forever. I believe in

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<v Speaker 1>legalizing things and then monitoring them and having total transparency.

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<v Speaker 1>You know, in rural counties. When I worked in Nevada,

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<v Speaker 1>prostitution was and I think still is legal in some

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<v Speaker 1>rural counties in Nevada. I would propose that safer than

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<v Speaker 1>unregulated prostitution, which we know is happening in America. So

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<v Speaker 1>I'm for legalizing virtually everything. And so then sports gambling

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<v Speaker 1>was legalized in America, and I have had three separate

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<v Speaker 1>deals with three companies currently hard Rock Bet. They've been

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<v Speaker 1>great partners. This is not something I pivoted to. I

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<v Speaker 1>always put my arms around disruptors, you know, from investing.

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<v Speaker 1>I think I'm a little bit entrepreneurial. I believe that

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<v Speaker 1>even if there's a stigma or a dark side to industries,

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<v Speaker 1>they're much better served being regulated and monitored. So sports

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<v Speaker 1>gambling is something that I was pretty familiar with because

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<v Speaker 1>my first job at a college, I got a job

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<v Speaker 1>in Las Vegas, and there were bad actors. But the

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<v Speaker 1>people that I knew that worked at the Las Vegas Hilton,

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<v Speaker 1>art Man Terras, I knew a little bit Roxy Rocksboro.

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<v Speaker 1>These were professionals. They were educated, they were really good

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<v Speaker 1>human beings, and it was an industry and they used

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<v Speaker 1>to owe a sort of And I didn't know Roxy

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<v Speaker 1>very well, but he was kind of a legend in

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<v Speaker 1>the business. Of the people that I knew that were

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<v Speaker 1>professional gamblers, the late Lem Banker, they understood the downside

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<v Speaker 1>to it. They had bad streaks, but they liked the

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<v Speaker 1>legality and the regulation and the monitoring of it. The

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<v Speaker 1>margins aren't that big anymore. The audience you are too sophisticated.

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<v Speaker 1>It's hard to win. I always thought it was much

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<v Speaker 1>easier to win betting the NFL than it is now

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<v Speaker 1>because you, the consumer are much smarter, You have more information.

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<v Speaker 1>But I have always been pro gambling and so but

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<v Speaker 1>what's interesting about society is that we understand even with pharmaceuticals.

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<v Speaker 1>Take pharmaceuticals that are monitored in manufacturing and post approval

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<v Speaker 1>by the FDA Food and Drug Administration. You can watch

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<v Speaker 1>a commercial for a medication and it will say side

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<v Speaker 1>effects include severe migraine, headaches and bleeding of the bowels,

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<v Speaker 1>and yet it's approved. Heart murmurs and your tongue will

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<v Speaker 1>fall out, But it's approved by the FDA because there

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<v Speaker 1>is viewed as a benefit to the drug, and they

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<v Speaker 1>will warn you about it. They'll be messaging on the

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<v Speaker 1>bottle or the casing. We understand that one of the

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<v Speaker 1>knocks on sports gambling has been well, whenever there's an incident,

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<v Speaker 1>and again we understand the vagaries and there are losers

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<v Speaker 1>in I mean, people died initially when Viagra came out,

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<v Speaker 1>you know, swallowed twelve blue diamond shaped pills. We understand that,

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<v Speaker 1>and we with pharmaceuticals, we accept it. With alcohol. We

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<v Speaker 1>know there's binge drinking, we know there's drunk drivers. We

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<v Speaker 1>don't shut down bars over it. We don't stop alcohol sales.

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<v Speaker 1>If there's insider trading, we don't shut down Wall Street.

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<v Speaker 1>But it is interesting because when gambling, and when you

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<v Speaker 1>get a moment like Terry Rozier or Tim Donnegie. Now

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<v Speaker 1>Donnigie was pre approved gambling, legalized gambling, and so once

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<v Speaker 1>the Supreme Court ruled in favor of legalized gambling, it

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<v Speaker 1>started spreading across the country. And the knock on gambling

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<v Speaker 1>has been well, there's no societal benefit, Well, there's an

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<v Speaker 1>economic benefit. Take venture capitalism VC. Do you know the

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<v Speaker 1>nickname for venture capitalism? Because I could argue what's the

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<v Speaker 1>societal benefit of venture capitalism? Its nickname is vulture capitalism.

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<v Speaker 1>The societal benefit is the economy that it can create

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<v Speaker 1>companies and add jet fuel to companies that drive economies,

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<v Speaker 1>stay welcome in VC companies all the time, create jobs

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<v Speaker 1>sort of like sports gambling, FanDuel, DraftKings, price picks, or

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<v Speaker 1>hard rock bet. They employed tens of thousands of people.

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<v Speaker 1>That's why once it was legalized, the rollout throughout America

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<v Speaker 1>was very quick and very very understood to be an

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<v Speaker 1>economic driver in jurisdiction, states, counties, not as much as

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<v Speaker 1>many believe, sometimes more, but there is an economic benefit.

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<v Speaker 1>And with venture capitalism or alcohol or legalized cannabis and

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<v Speaker 1>sports gambling, there's winners and some losers. But I have

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<v Speaker 1>as the story broke in the NBA again, I didn't

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<v Speaker 1>pivot to this position. This has always been my position

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<v Speaker 1>from the first days of doing local sports talk radio

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<v Speaker 1>in Portland, Oregon. Which is legalized stuff, then it can

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<v Speaker 1>be monitored, right. I hear people, and I think it's

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<v Speaker 1>a legitimate concern about prop bets, you know, in game betting,

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<v Speaker 1>prop bets, and some which suggest you can only bet

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<v Speaker 1>the over, not the under. I mean if a guy

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<v Speaker 1>drops fifty and the over under was twenty four, good

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<v Speaker 1>for the team, good for him. That's interesting. But you

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<v Speaker 1>want it regulated because if you eliminate the legalization of

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<v Speaker 1>prop bets in America, then it will go offshore, and

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<v Speaker 1>that is dark. That's a pirate ship that is completely

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<v Speaker 1>unregulated and scary. I don't know people, but there's hundreds

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<v Speaker 1>thousands of stories of people who lost their butt offshore gambling.

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<v Speaker 1>I want regulation, I want monitoring and we bake all

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<v Speaker 1>of that in with everything else. We bake it in

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<v Speaker 1>with alcohol. What's the societal benefit of alcohol? Well, I

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<v Speaker 1>mean NAPA drove some economy. It drives economy from distribution

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<v Speaker 1>to consumption by consumer. It drives bars and wineries and distributors,

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<v Speaker 1>and it you know, it can drive traffic into wine

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<v Speaker 1>stores and grocery stores. Right, every state is different with

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<v Speaker 1>alcohol regulation, just like sports gambling, but there's viewed as

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<v Speaker 1>sort of a social lubrication and economic benefit I think

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<v Speaker 1>was sports gambling I've said before, is you know you're

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<v Speaker 1>sitting in a room with guys and you want some juice,

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<v Speaker 1>you want some fun. I get it, I've been. I've

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<v Speaker 1>been doing it since I moved to Vegas out of college.

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<v Speaker 1>It's fun. It adds something I never got much back

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<v Speaker 1>then five to ten bucks now fifty bucks. But it

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<v Speaker 1>adds juice. It's fun in an afternoon sitting there. And

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<v Speaker 1>that's why that competition, that energy, that juice is why

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<v Speaker 1>you need constant monitoring in professional sports. Remember this, and

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<v Speaker 1>I think most of you know this by now. Do

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<v Speaker 1>you know who caught the Terry Rosey or gambling FanDuel

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<v Speaker 1>within the hour notified the NBA, we've got a problem.

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<v Speaker 1>Do you know who notified the NBA about Tim Donneghey Vegas.

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<v Speaker 1>The margins are thin for all these companies because of you,

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<v Speaker 1>the consumer that's more sophisticated. They don't want cheats or

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<v Speaker 1>scoundrels or bad actors. That's not good for them. But

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<v Speaker 1>I don't want sports gambling to go off shore. That's

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<v Speaker 1>not good for you. That's not good for our domestic consumers.

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<v Speaker 1>That's no good. As long as people are to me,

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<v Speaker 1>I don't think my position has changed forever. I have

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<v Speaker 1>been pro stigma. They're going to exist. You're not going

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<v Speaker 1>to shut down alcohol sales. You're not going to shut

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<v Speaker 1>down cannabis. I grew up in Washington State. It was

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<v Speaker 1>the state Flower. I mean, who are we kidding? I

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<v Speaker 1>mean I grew up in the sticks. You could get

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<v Speaker 1>bags a pot in the seventies or eighties. You think

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<v Speaker 1>you're going to stop the use just regularly. Have some

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<v Speaker 1>transparencies and agencies that at least alert people to bad actions.

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<v Speaker 1>I mean, Terry Rozier should know better. Chauncey Billups fooled

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<v Speaker 1>a lot of people allegedly. Damon Jones, what are you doing?

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<v Speaker 1>You're connected to Lebron What are you doing? And I

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<v Speaker 1>know people that know all of these people. But I

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<v Speaker 1>also know people that have gotten into a car and

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<v Speaker 1>had too much to drink. So and I'm not proud

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<v Speaker 1>to say it, and I'm not happy about it, but

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<v Speaker 1>we don't ban stuff. So I've always had this just

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<v Speaker 1>sort of understanding, and I've said this for years and years.

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<v Speaker 1>I'm not a moralist. I can be critical of myself,

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<v Speaker 1>I can be critical of others. I can be critical

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<v Speaker 1>of athletes. I try to be fair. Baker Mayfield's good.

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<v Speaker 1>I'm now very pro Baker Mayfield. I didn't like him

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<v Speaker 1>right out of college, thought he was too cocky, but

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<v Speaker 1>I'm trying to be fair about it. My position in

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<v Speaker 1>life is largely people may mistakes. I mean venture capitalism.

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<v Speaker 1>Venture capitalism wasn't created because it's great for humanity. Vulture

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<v Speaker 1>capitalism was created because it can often stimulate and benefit

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<v Speaker 1>economies to some degree. That's sports gambling leagues are always

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<v Speaker 1>looking for new models, new avenues. I mean, for years

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<v Speaker 1>and years the NBA support of the WNBA subsidized the

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<v Speaker 1>doesn't make any money off it. They were hoping it

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<v Speaker 1>would grow at a faster pace. Than Caitlin Clark arrives

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<v Speaker 1>and suddenly they're filling arenas. Right, But you know, these

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<v Speaker 1>professional leagues are always looking for better deals from networks.

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<v Speaker 1>That's why streaming is such a powerful lever for the

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<v Speaker 1>NFL and the NBA. They can go to networks like

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<v Speaker 1>Fox and ABC and CBS and ESBN and SA we

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<v Speaker 1>want more. Right, here comes Netflix, here comes Amazon, we

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<v Speaker 1>want more. It's a lever to increase the annual revenue,

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<v Speaker 1>and I think gambling falls into that if you can

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<v Speaker 1>add two percent revenue on contracts. I don't love everything

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<v Speaker 1>about it. It really appalls me that any fan would

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<v Speaker 1>go up to any professional athlete and bag on him, saying, hey,

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<v Speaker 1>you lost me money. That makes me sick. That makes

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<v Speaker 1>me sick. But insider trading makes me sick. And people

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<v Speaker 1>getting into cars nine cocktails in makes me sick. And

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<v Speaker 1>I can never quite figure out how the FDA approves

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<v Speaker 1>a drug that makes my bowels bleed potentially or gives

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<v Speaker 1>me migrains, but it's understood the benefit can outweigh the negative,

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<v Speaker 1>the vagaries, the problems, the incidents, the disruption of society negatively.

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<v Speaker 1>So I thought most of the coverage was excellent by

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<v Speaker 1>the way. You know, I kind of look at sports,

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<v Speaker 1>gambling and sports the way I look at politics. I

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<v Speaker 1>don't trust the pundits or the politicians. I trust you.

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<v Speaker 1>I trust the people. Political pundits are overwhelmingly left leaning

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<v Speaker 1>in my lifetime. The media is mostly left leaning. That's

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<v Speaker 1>why Fox News had such an ascension forever, because they

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<v Speaker 1>were the one place for a long time that was

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<v Speaker 1>a conservative viewpoint. The liberals just left it wide open,

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<v Speaker 1>and Rupert Murdoch took advantage of it. I always trust

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<v Speaker 1>the people. Even during elections, they like Trump. Trump was

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<v Speaker 1>too much. They went to sleepy Joe. We'll see it

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<v Speaker 1>the midterms. Trump's very active, loud, There's a lot of

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<v Speaker 1>stuff going on. Americans get uncomfortable with it. At the midterms.

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<v Speaker 1>They may be like, you know what we want to

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<v Speaker 1>I want to bring the temperature down. I've always trusted you.

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<v Speaker 1>I don't trust traditional anything, but you clearly enjoy placing

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<v Speaker 1>a ten dollar bet. And that's kind of the average.

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<v Speaker 1>By the way, I've asked all these companies that I

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<v Speaker 1>go into business with, what's the average bet. Shockingly, it's

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<v Speaker 1>four dollars. Four dollars doesn't mean there's not going to

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<v Speaker 1>be somebody that spins out of control. Absolutely, And there

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<v Speaker 1>are people that can't regulate or modify their food consumption,

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<v Speaker 1>their alcohol consumption, drug consumption. That's just that's part of

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<v Speaker 1>the freedoms and liberties that we all enjoy. You have

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<v Speaker 1>a right to wreck your life, but overwhelmingly most of

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<v Speaker 1>you don't. We hear about the ones that do. I

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<v Speaker 1>tell people all the time my business, we talk about

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<v Speaker 1>crashed landings, not safe landings. That's not clickbait. That's what

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<v Speaker 1>people are interested in. Right, There's no reason for me

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<v Speaker 1>to go on the air if I work in the

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<v Speaker 1>aviation industry and I'm a reporter to talk about, well,

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<v Speaker 1>there's another safe landing in Orlando today, the thirty eighth straight.

0:14:33.760 --> 0:14:37.640
<v Speaker 1>It's eleven am. There's a crash once a year in Orlando.

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<v Speaker 1>That's news. Safe landings aren't news. Crash landings are. And

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<v Speaker 1>so the Terry Rose ear story, it's rare, it's infrequent,

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<v Speaker 1>it's sad, it sucks. I will always be on the

0:14:48.320 --> 0:14:53.080
<v Speaker 1>side of transparency and regulation. And Fanduels spotted that puppy

0:14:53.120 --> 0:14:56.920
<v Speaker 1>in fifteen minutes, and Vegas spotted Tim Donneghe within twenty

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<v Speaker 1>four hours. That's the side I've always been on. It's

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<v Speaker 1>the side I'm always going to be on. The value