1 00:00:08,920 --> 00:00:12,200 Speaker 1: Welcome to the Favorites of the Podcast presented by BET 2 00:00:12,240 --> 00:00:14,120 Speaker 1: three six y five. We are part of the Volume 3 00:00:14,760 --> 00:00:17,320 Speaker 1: Podcast Network. I am Chad Mollman of the Action Network. 4 00:00:17,320 --> 00:00:20,640 Speaker 1: We are live from our Tommy John Holmes Studios. I'm 5 00:00:20,720 --> 00:00:23,960 Speaker 1: joined as always by my co host, my companion, mikem Boudre, 6 00:00:24,079 --> 00:00:26,160 Speaker 1: my BFF professional better Assignmon Hunter. 7 00:00:26,720 --> 00:00:28,960 Speaker 2: And I saw I man Chadow. 8 00:00:29,000 --> 00:00:29,440 Speaker 3: What's going on? 9 00:00:29,520 --> 00:00:29,760 Speaker 2: Brother? 10 00:00:30,520 --> 00:00:30,880 Speaker 4: Listen. 11 00:00:31,640 --> 00:00:38,760 Speaker 1: I feel like I'm more of an interested student in 12 00:00:38,800 --> 00:00:47,000 Speaker 1: the glorious, colorful, exciting past that is betting and the 13 00:00:47,080 --> 00:00:51,480 Speaker 1: sports betting world. It's how I got into it right, 14 00:00:51,600 --> 00:00:57,000 Speaker 1: Like I was never better first writer second. I was 15 00:00:57,080 --> 00:01:00,400 Speaker 1: writer first who loved the psychology. I love the history, 16 00:01:00,480 --> 00:01:02,840 Speaker 1: I love the story of the mob. I love sort 17 00:01:02,840 --> 00:01:07,160 Speaker 1: of the characters who populate the world of sports betting. 18 00:01:08,080 --> 00:01:12,560 Speaker 1: And so you know, we had Mitchell had come up 19 00:01:12,560 --> 00:01:15,160 Speaker 1: with this great idea a few weeks ago where he 20 00:01:15,280 --> 00:01:19,640 Speaker 1: did some great old gambling stories and some of which 21 00:01:19,680 --> 00:01:24,600 Speaker 1: he stole from an excellent book called Roll the Bones. 22 00:01:25,280 --> 00:01:32,080 Speaker 1: And today we are joined by the author of Roll 23 00:01:32,400 --> 00:01:38,080 Speaker 1: the Bones, a long time professor at UNLV University Nevada, 24 00:01:38,200 --> 00:01:43,039 Speaker 1: Las Vegas, the nation's pre eminent gambling historian Roll The 25 00:01:43,080 --> 00:01:46,720 Speaker 1: Bones We Know is Matt's favorite book. So imagine Matt's 26 00:01:46,720 --> 00:01:52,080 Speaker 1: delight when we found out our author and our guest 27 00:01:52,560 --> 00:01:54,400 Speaker 1: has a brand new book that just came out in 28 00:01:54,480 --> 00:01:57,480 Speaker 1: January called Something for Your Money, The History of Las 29 00:01:57,600 --> 00:02:02,160 Speaker 1: Vegas Casinos, available now wherever books are sold. He's someone 30 00:02:02,200 --> 00:02:06,160 Speaker 1: I've known for years. He was a regular and patient 31 00:02:06,280 --> 00:02:10,520 Speaker 1: source when I would head out to Vegas during my 32 00:02:10,880 --> 00:02:13,400 Speaker 1: ESPN days and was out there for a variety of stories. 33 00:02:13,919 --> 00:02:17,640 Speaker 1: Welcome to the show, Dave Schwartz, Thanks for having me, Chad, 34 00:02:17,680 --> 00:02:22,040 Speaker 1: thanks for having me listen. Your book has thrown Matt 35 00:02:22,080 --> 00:02:26,480 Speaker 1: Mitchell for a loop. He can't believe this book exists. 36 00:02:26,919 --> 00:02:29,919 Speaker 1: He can't believe it tells every story that he's been 37 00:02:30,040 --> 00:02:35,240 Speaker 1: dying to know for years. Can you please, for Matt 38 00:02:35,240 --> 00:02:37,760 Speaker 1: Mitchell's sake and for the sake of our listeners who 39 00:02:37,800 --> 00:02:42,400 Speaker 1: are all avid interested parties in bedding, how did you 40 00:02:42,480 --> 00:02:43,280 Speaker 1: end up doing this? 41 00:02:44,320 --> 00:02:46,440 Speaker 3: Well? I grew up in Atlantic City, New Jersey, just 42 00:02:46,480 --> 00:02:49,560 Speaker 3: around the time that they legalized gambling, so one of 43 00:02:49,560 --> 00:02:52,160 Speaker 3: my earliest memories was them blowing up the old hotels 44 00:02:52,160 --> 00:02:55,120 Speaker 3: and building casinos. So it's a kid. I was really curious, like, 45 00:02:55,200 --> 00:02:58,680 Speaker 3: why do people gambling casinos? Why are they blowing up 46 00:02:58,720 --> 00:03:01,120 Speaker 3: all the old hotels and stuff like that. So when 47 00:03:01,120 --> 00:03:03,720 Speaker 3: I went to grad school, I decided to write a 48 00:03:03,760 --> 00:03:06,200 Speaker 3: dissertation in that and that started me on the road 49 00:03:06,280 --> 00:03:09,200 Speaker 3: to studying the history of gambling and casinos. 50 00:03:09,800 --> 00:03:13,200 Speaker 1: And so you wrote Roll the Bones. You wrote Something 51 00:03:13,200 --> 00:03:15,840 Speaker 1: for Your Money, which just came out. Both of them 52 00:03:15,840 --> 00:03:25,079 Speaker 1: are packed with deliciously colorful stories about not just sort 53 00:03:25,120 --> 00:03:29,160 Speaker 1: of the recent history of betting, but the entire history 54 00:03:29,760 --> 00:03:37,880 Speaker 1: of betting. Gambling is so intertwined with the history of America, 55 00:03:38,200 --> 00:03:44,960 Speaker 1: right from lotteries being how we paid for the American Revolution. 56 00:03:45,960 --> 00:03:51,640 Speaker 1: Lotteries were how Harvard and Yale were funded and founded. 57 00:03:52,560 --> 00:03:59,280 Speaker 1: This it is core to the American experience. All that said, 58 00:04:00,360 --> 00:04:03,480 Speaker 1: what were your favorite stories when researching these books? 59 00:04:03,840 --> 00:04:06,840 Speaker 3: Yeah, you know, it's kind of interesting. One fun story. 60 00:04:06,840 --> 00:04:09,080 Speaker 3: It just shows how far we've come politically and in 61 00:04:09,080 --> 00:04:11,800 Speaker 3: a lot of ways. So in the eighteen twenty eight election, 62 00:04:11,880 --> 00:04:15,640 Speaker 3: which was the rematch of Andrew Jackson against John Quincy Adams, 63 00:04:15,680 --> 00:04:20,000 Speaker 3: one of the scandals was that John Quincy Adams allegedly 64 00:04:20,120 --> 00:04:23,159 Speaker 3: had bought a billiard's table for the White House and 65 00:04:23,200 --> 00:04:25,880 Speaker 3: so there is an outrage that how dare he buy 66 00:04:26,000 --> 00:04:30,599 Speaker 3: gambling equipment with public money? Ironic because Andrew Jackson was 67 00:04:30,640 --> 00:04:34,240 Speaker 3: a huge, degenerate gambler, just like absolutely would love the 68 00:04:34,279 --> 00:04:38,360 Speaker 3: bent On horses. Just totally sick, sick gambler. So it's 69 00:04:38,400 --> 00:04:41,159 Speaker 3: kind of funny that they cus the New England John 70 00:04:41,200 --> 00:04:44,039 Speaker 3: Quincy Adams the intellectual of being a gambler. You know, 71 00:04:46,320 --> 00:04:48,920 Speaker 3: they tried to do some spin and these days, again 72 00:04:49,320 --> 00:04:51,719 Speaker 3: the president or the candidate wouldn't speak for themselves, they 73 00:04:51,720 --> 00:04:53,520 Speaker 3: would have people speak for them. So they tried to 74 00:04:53,520 --> 00:04:56,520 Speaker 3: do some spin and say, well, you know, he didn't 75 00:04:56,520 --> 00:04:58,840 Speaker 3: really buy it, he doesn't gamble, he just has it 76 00:04:58,960 --> 00:05:02,479 Speaker 3: so that the visiting aristocrats have something to do and like, oh, 77 00:05:02,640 --> 00:05:06,240 Speaker 3: now you're an aristocrat. Now you're better than us. So 78 00:05:06,640 --> 00:05:08,960 Speaker 3: trying to make it better made it worse. And it 79 00:05:09,040 --> 00:05:12,400 Speaker 3: was one of those things. You know, probably public frustration 80 00:05:12,640 --> 00:05:16,440 Speaker 3: over the banking system, all those issues were the things 81 00:05:16,440 --> 00:05:18,760 Speaker 3: that probably really got Jackson in the White House, but 82 00:05:19,760 --> 00:05:21,200 Speaker 3: you know, this was a little part of it. So 83 00:05:21,200 --> 00:05:24,320 Speaker 3: I think that's fascinating that gambling had a role in 84 00:05:24,360 --> 00:05:26,360 Speaker 3: this very pivotal election eighteen twenty eight. 85 00:05:26,640 --> 00:05:29,280 Speaker 1: As a reminder, The Favorites podcast is presented by Bet 86 00:05:29,279 --> 00:05:31,920 Speaker 1: three sixty five and now new Bet three sixty five. 87 00:05:31,960 --> 00:05:34,159 Speaker 1: Customers get one hundred and fifty dollars in bonus bets 88 00:05:34,200 --> 00:05:38,039 Speaker 1: when you bet five dollars, sign up using promo code Favorites, 89 00:05:38,080 --> 00:05:40,599 Speaker 1: deposit ten dollars. 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Also reminder Folks officially RSVP 98 00:06:14,360 --> 00:06:20,880 Speaker 1: for our Free Favorites live show event in Chicago Elite 99 00:06:21,040 --> 00:06:25,080 Speaker 1: eight March Madness Games, Saturday, March twenty ninth. 100 00:06:25,080 --> 00:06:27,320 Speaker 4: We're going to Joe's Bar on. 101 00:06:27,279 --> 00:06:32,520 Speaker 1: Weed Street, more popularly known as Joe's on Weed free Event, 102 00:06:32,560 --> 00:06:37,840 Speaker 1: free drinks, Free, Live show Me, Simon, some other guests RSVP. 103 00:06:38,120 --> 00:06:42,920 Speaker 1: To reserve your spot, follow the link in this episode's description, 104 00:06:43,160 --> 00:06:49,600 Speaker 1: or just google Favorites, Podcast, Event Chicago and the RSVP 105 00:06:49,760 --> 00:06:54,240 Speaker 1: site Pop right up. RSVP, Free Drinks, Free fun, Me 106 00:06:54,320 --> 00:06:58,440 Speaker 1: and Simon hanging out with you, all of you listen. 107 00:06:58,760 --> 00:07:01,599 Speaker 1: When you were thinking about this is a field of study, 108 00:07:01,760 --> 00:07:05,560 Speaker 1: or thinking about what your first book was going to be, 109 00:07:05,560 --> 00:07:07,799 Speaker 1: the next book was going to be, how you're teaching 110 00:07:08,640 --> 00:07:15,200 Speaker 1: gambling as a professor, how do you frame the idea 111 00:07:15,240 --> 00:07:20,040 Speaker 1: of risk and gambling into the evolution. 112 00:07:20,000 --> 00:07:23,160 Speaker 4: Of the country that we see today. 113 00:07:24,040 --> 00:07:25,920 Speaker 3: Well, really is an essential part. And if you look 114 00:07:25,920 --> 00:07:29,520 Speaker 3: at it, you know, America, the United States, it really 115 00:07:29,560 --> 00:07:32,040 Speaker 3: is a place of second chances, and that means that 116 00:07:32,080 --> 00:07:35,240 Speaker 3: things didn't go well your first chance. So there is 117 00:07:35,240 --> 00:07:38,360 Speaker 3: this idea that the United States is just tolerant a 118 00:07:38,480 --> 00:07:41,400 Speaker 3: risk and that's how things happen. And sometimes it goes 119 00:07:41,480 --> 00:07:44,640 Speaker 3: really well, sometimes it doesn't go so great, but there's 120 00:07:44,640 --> 00:07:47,600 Speaker 3: always another shot. 121 00:07:48,560 --> 00:07:52,000 Speaker 1: Matter, Simon, I don't want to monopolize. If one of 122 00:07:52,000 --> 00:07:53,920 Speaker 1: you want to jump in, I know, Matt, you've got 123 00:07:53,920 --> 00:07:54,720 Speaker 1: a lot of questions. 124 00:07:57,440 --> 00:08:02,000 Speaker 5: Dave, one of My favorite anecdotes from Roll the Bones 125 00:08:02,560 --> 00:08:07,960 Speaker 5: is about William Penn. Is it true that the land 126 00:08:08,000 --> 00:08:11,880 Speaker 5: that would become the state of Pennsylvania was potentially the 127 00:08:12,360 --> 00:08:15,280 Speaker 5: repayment of a royal debt? 128 00:08:16,440 --> 00:08:18,880 Speaker 3: Yeah, you know, that is the story. Obviously I wasn't 129 00:08:18,880 --> 00:08:23,120 Speaker 3: there so when when he signed that marker. But William Penn. So, 130 00:08:23,200 --> 00:08:25,880 Speaker 3: William Penn was a Quaker leader anybody from Philly, you know, 131 00:08:25,920 --> 00:08:28,000 Speaker 3: I went to school in Philly. So the statue of 132 00:08:28,000 --> 00:08:31,960 Speaker 3: Billy Penn. So he was a Quaker. Quakers were not 133 00:08:32,160 --> 00:08:36,800 Speaker 3: the most popular group in England at the time, and 134 00:08:36,920 --> 00:08:40,480 Speaker 3: somehow he got this grant for Pennsylvania, which is a 135 00:08:40,520 --> 00:08:43,880 Speaker 3: really lucrative part of what would become the colonies and 136 00:08:43,960 --> 00:08:47,920 Speaker 3: later the US. And the story was Sir William Penn, 137 00:08:47,920 --> 00:08:51,120 Speaker 3: William Penn, the Quaker's father was a gambling buddy of 138 00:08:51,200 --> 00:08:55,800 Speaker 3: King Charles the Second and when he when Sir William 139 00:08:55,800 --> 00:08:58,400 Speaker 3: Penn died, Charles the second owed him a lot of 140 00:08:58,440 --> 00:09:01,400 Speaker 3: money and basically on his deathbed said just take care 141 00:09:01,440 --> 00:09:04,400 Speaker 3: of my son and we're good. And supposedly that's where 142 00:09:04,400 --> 00:09:06,400 Speaker 3: it came from. So that's how the Quakers ended up 143 00:09:06,440 --> 00:09:10,280 Speaker 3: with Pennsylvania. And that's how we get to the eagles, 144 00:09:10,280 --> 00:09:10,640 Speaker 3: I guess. 145 00:09:11,720 --> 00:09:14,120 Speaker 5: And that's that's the most remarkable thing about this book. 146 00:09:14,320 --> 00:09:19,240 Speaker 5: That's like fifty five words in this book. I mean, 147 00:09:19,280 --> 00:09:22,040 Speaker 5: you just move on to seven hundred other fascinating things. 148 00:09:22,080 --> 00:09:24,920 Speaker 5: It really is a remarkable piece of literature. 149 00:09:25,440 --> 00:09:29,680 Speaker 1: Do we have any idea where Charles the Second and 150 00:09:30,600 --> 00:09:32,440 Speaker 1: William penn were gambling? 151 00:09:33,040 --> 00:09:36,439 Speaker 3: Yeah? Probably farrow fa r oh. That was the popular 152 00:09:36,520 --> 00:09:39,439 Speaker 3: game back then, So probably Pharaoh, But it could also 153 00:09:39,480 --> 00:09:42,559 Speaker 3: have been a number of card games, you know, not 154 00:09:42,800 --> 00:09:45,000 Speaker 3: poker because I wasn't inventing the app, but a number 155 00:09:45,040 --> 00:09:48,400 Speaker 3: of there are a number of earlier bidding card games 156 00:09:48,400 --> 00:09:51,280 Speaker 3: that would eventually kind of evolve into poker. And the 157 00:09:51,400 --> 00:09:54,680 Speaker 3: King had a marker like, yeah, well not literally, that's 158 00:09:54,760 --> 00:09:59,000 Speaker 3: just my gambling. Yeah, Like having worked in the casino industry, 159 00:09:59,000 --> 00:10:01,360 Speaker 3: you kind of use the terminal alogy basically as a 160 00:10:01,400 --> 00:10:05,120 Speaker 3: gambling debt, not legally collectible, but morally collectible. And that's 161 00:10:05,120 --> 00:10:07,679 Speaker 3: the thing about gamblers that they rather pay the gambling 162 00:10:07,760 --> 00:10:10,959 Speaker 3: debt to prove that they're good for it than not. 163 00:10:11,200 --> 00:10:13,480 Speaker 3: So yeah, Charles the Second was good for it in 164 00:10:13,520 --> 00:10:15,200 Speaker 3: the end in Pennsylvania. Is the proof? 165 00:10:16,679 --> 00:10:23,079 Speaker 1: Well, Simon as a billy adjacent native. This is in 166 00:10:23,200 --> 00:10:25,760 Speaker 1: your territory. It is part of your history now to 167 00:10:25,920 --> 00:10:28,800 Speaker 1: know that you are doing the right thing in your 168 00:10:28,920 --> 00:10:31,640 Speaker 1: community by gambling as much as you possibly can. 169 00:10:32,120 --> 00:10:33,880 Speaker 6: And it's crazy to think everything GE's birth from the 170 00:10:33,960 --> 00:10:37,599 Speaker 6: pen name Penn Medicine. I mean obviously, like you just 171 00:10:37,600 --> 00:10:40,000 Speaker 6: talked about, our capitol building has William Penn standing on 172 00:10:40,080 --> 00:10:40,559 Speaker 6: the top of it. 173 00:10:40,760 --> 00:10:44,000 Speaker 2: And it's pretty insane to think not that filled Upia 174 00:10:44,120 --> 00:10:45,280 Speaker 2: is just known for betting. 175 00:10:45,960 --> 00:10:48,400 Speaker 6: But at its core, I mean, I can't tell you 176 00:10:48,480 --> 00:10:52,400 Speaker 6: many street bookies I knew Chad growing up, where every neighborhood, 177 00:10:52,400 --> 00:10:55,360 Speaker 6: every block has a different guy, And it's tarting to 178 00:10:55,400 --> 00:10:58,040 Speaker 6: make more sense. You really think about the state and 179 00:10:58,120 --> 00:10:59,960 Speaker 6: how it was founded and the people that live there, 180 00:11:00,160 --> 00:11:03,840 Speaker 6: and because that was probably I wouldn't say common knowledge 181 00:11:03,920 --> 00:11:05,840 Speaker 6: right back then, but people must have known. I mean, 182 00:11:05,880 --> 00:11:08,280 Speaker 6: everyone just talks to everyone's at everyone's business. This is 183 00:11:08,360 --> 00:11:11,160 Speaker 6: before obviously newspapers and everything like that. I mean the 184 00:11:11,200 --> 00:11:14,760 Speaker 6: word must have spread around town about how Pennsylvania got birthed? 185 00:11:14,920 --> 00:11:15,920 Speaker 2: Am I assuming that right? 186 00:11:16,440 --> 00:11:19,400 Speaker 3: Oh? Yeah? And I think people knew how big, you know, 187 00:11:19,640 --> 00:11:21,840 Speaker 3: Charles the Second was into a lot of that they 188 00:11:21,880 --> 00:11:24,559 Speaker 3: spent a lot of time in exile in France. The 189 00:11:24,640 --> 00:11:27,080 Speaker 3: French then were the notorious gamblers, so kind of picked 190 00:11:27,120 --> 00:11:29,280 Speaker 3: up that habit. And it's kind of interesting too when 191 00:11:29,320 --> 00:11:31,679 Speaker 3: you look at people who don't like gambling, which there 192 00:11:31,720 --> 00:11:35,400 Speaker 3: are people for a while in England they said, well, 193 00:11:35,480 --> 00:11:39,320 Speaker 3: this isn't a genuine English hobby, it's a French perversion 194 00:11:39,400 --> 00:11:41,240 Speaker 3: that came into England. So it's kind of funny how 195 00:11:41,280 --> 00:11:44,360 Speaker 3: that is spun, you know, and we see that happen 196 00:11:44,400 --> 00:11:45,120 Speaker 3: throughout history. 197 00:11:45,800 --> 00:11:48,720 Speaker 1: Well, look, you must have seen this through many stages 198 00:11:48,760 --> 00:11:52,319 Speaker 1: in your research, whether it was you know, England in 199 00:11:52,440 --> 00:11:57,559 Speaker 1: the sixteen hundreds to sports betting and that being the 200 00:11:57,720 --> 00:12:00,920 Speaker 1: third rail of gambling. I remember sitting with you in 201 00:12:01,040 --> 00:12:06,320 Speaker 1: the UNLV library and I think in the building where 202 00:12:06,440 --> 00:12:09,319 Speaker 1: your department is, and we were talking about Delaware in 203 00:12:09,360 --> 00:12:13,839 Speaker 1: New Jersey and how Delaware at the time that legalized 204 00:12:13,920 --> 00:12:18,719 Speaker 1: New Jersey had just filed suit to get passed, but 205 00:12:18,840 --> 00:12:21,960 Speaker 1: the Professional Amateur Sports Protection Act overturned. 206 00:12:23,440 --> 00:12:24,240 Speaker 4: And you use the. 207 00:12:24,240 --> 00:12:27,520 Speaker 1: Phrase sports betting is the third rail of all the 208 00:12:27,559 --> 00:12:35,440 Speaker 1: betting types, lottery, legal poker, legal casinos, Native American casinos, 209 00:12:35,640 --> 00:12:39,439 Speaker 1: all of that. What do you think finally turned. In 210 00:12:39,559 --> 00:12:43,559 Speaker 1: your point of view, from your very deep knowledge and 211 00:12:44,440 --> 00:12:47,199 Speaker 1: base of perspective, what do you think finally turned for 212 00:12:47,280 --> 00:12:47,920 Speaker 1: sports betting. 213 00:12:48,360 --> 00:12:50,360 Speaker 3: Well, it's interesting because if you look back in the 214 00:12:50,440 --> 00:12:54,080 Speaker 3: nineteen fifties, when people in the government were researching, well 215 00:12:54,120 --> 00:12:56,520 Speaker 3: what is gambling and how's it happening? It was mostly 216 00:12:56,559 --> 00:12:59,360 Speaker 3: illegal and I remember I think it might have been 217 00:12:59,480 --> 00:13:01,520 Speaker 3: something that can him out of New York City or somewhere. 218 00:13:01,600 --> 00:13:06,679 Speaker 3: But this government study said, you know the numbers, which 219 00:13:06,760 --> 00:13:09,679 Speaker 3: was the illegal lotteries, and policy like, that's the worst. 220 00:13:09,760 --> 00:13:12,760 Speaker 3: It's the most exploitative sports betting. At least a better 221 00:13:12,800 --> 00:13:15,040 Speaker 3: has a chance, but this is just the worst. And 222 00:13:15,760 --> 00:13:20,120 Speaker 3: ten years later, what did states legalize lotteries? And at 223 00:13:20,160 --> 00:13:21,920 Speaker 3: the time there's a lot of debate, well, if we 224 00:13:22,000 --> 00:13:24,920 Speaker 3: were to legalize sports betting, what happens if the betters 225 00:13:24,960 --> 00:13:28,240 Speaker 3: get lucky? Now we owe money. So governments didn't want 226 00:13:28,280 --> 00:13:29,559 Speaker 3: to do it because they didn't want to take on 227 00:13:29,640 --> 00:13:35,280 Speaker 3: that liability. What happened was the private casino companies, basically 228 00:13:35,720 --> 00:13:38,319 Speaker 3: because they have the casino itself to offset that, and 229 00:13:38,360 --> 00:13:40,240 Speaker 3: they can use a sports betting to draw people in. 230 00:13:40,840 --> 00:13:42,520 Speaker 3: And the old model in the new model it's just 231 00:13:42,559 --> 00:13:46,080 Speaker 3: another revenue source because it's online. You know. Basically, once 232 00:13:46,160 --> 00:13:48,960 Speaker 3: they got behind it, thing shifted. But before that, states 233 00:13:48,960 --> 00:13:51,400 Speaker 3: weren't really eager to legalize it because you know, I mean, 234 00:13:51,520 --> 00:13:54,319 Speaker 3: just imagine what it would be like if state in 235 00:13:54,360 --> 00:13:58,199 Speaker 3: New Jersey or Pennsylvania or anyone was running, you know, 236 00:13:58,280 --> 00:14:00,480 Speaker 3: running a sports book. We would be very different. 237 00:14:00,920 --> 00:14:04,240 Speaker 1: Well wait a second, that's I had no idea that 238 00:14:04,360 --> 00:14:07,319 Speaker 1: was the case my understanding, and I didn't do any 239 00:14:07,360 --> 00:14:07,920 Speaker 1: research on this. 240 00:14:08,000 --> 00:14:10,160 Speaker 4: I just sort of assumed it was that. 241 00:14:11,679 --> 00:14:16,840 Speaker 1: Sports betting never really got traction because of moral issues, 242 00:14:17,120 --> 00:14:18,920 Speaker 1: and you're saying it had nothing to do with it. 243 00:14:18,920 --> 00:14:23,680 Speaker 1: It was really about the fear that they would all 244 00:14:23,720 --> 00:14:27,040 Speaker 1: of a sudden be on the hook for customer friendly 245 00:14:27,120 --> 00:14:30,560 Speaker 1: outcomes as they call them today, and have to pay 246 00:14:30,640 --> 00:14:33,040 Speaker 1: out and all of a sudden, instead of having a surplus, 247 00:14:33,080 --> 00:14:33,760 Speaker 1: they've got a debt. 248 00:14:34,400 --> 00:14:36,200 Speaker 3: Yeah, well I think that, And again I'm not in 249 00:14:36,280 --> 00:14:38,000 Speaker 3: their mind, so I wasn't there back then. I don't 250 00:14:38,000 --> 00:14:39,160 Speaker 3: know what they did. But if we look at it, 251 00:14:40,120 --> 00:14:43,080 Speaker 3: look at the different forms of gambling. Most states legalized 252 00:14:43,160 --> 00:14:49,200 Speaker 3: lotteries first highest margin, you know, then went into casinos. Ah, 253 00:14:49,400 --> 00:14:52,280 Speaker 3: they can tax it. They can make decent money. Sports 254 00:14:52,320 --> 00:14:55,240 Speaker 3: betting was last because that has the narrowest margin, and again, 255 00:14:55,320 --> 00:14:57,880 Speaker 3: you know you don't have that. It's not as dependable. 256 00:14:58,200 --> 00:15:01,320 Speaker 3: So when they're doing it or budgetary reasons like okay, 257 00:15:01,360 --> 00:15:03,360 Speaker 3: we're going to generate with a lottery, we can generate 258 00:15:03,440 --> 00:15:06,560 Speaker 3: this much money a year to fund the schools. Sports betting, 259 00:15:06,720 --> 00:15:10,120 Speaker 3: you know, not that stable. So I don't think there's 260 00:15:10,120 --> 00:15:12,760 Speaker 3: a lot of people rushing to legalize it back then. 261 00:15:13,440 --> 00:15:13,800 Speaker 4: Hmm. 262 00:15:14,040 --> 00:15:16,360 Speaker 1: It's always about the money, it's never about the morals. 263 00:15:16,560 --> 00:15:22,240 Speaker 1: Dave Simon. Listeners are uncomfortable in their daily lives. They 264 00:15:22,400 --> 00:15:26,120 Speaker 1: lack the confidence to achieve greatness. What they ask us 265 00:15:26,400 --> 00:15:30,440 Speaker 1: can they do? 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In 286 00:16:32,160 --> 00:16:35,040 Speaker 1: the nineteen early nineteen fifties, estes Keifaber, who was a 287 00:16:35,080 --> 00:16:38,760 Speaker 1: cenator from Tennessee, very ambitious guy. There was a lot 288 00:16:38,840 --> 00:16:43,160 Speaker 1: of consternation within communities, especially big cities, about the influence 289 00:16:43,280 --> 00:16:47,200 Speaker 1: of organized crime, and so he set up this two 290 00:16:47,280 --> 00:16:50,880 Speaker 1: years of investigations, going city to city on a tour 291 00:16:51,880 --> 00:16:56,080 Speaker 1: where he had subpoenaed the organized crime bosses and they 292 00:16:56,160 --> 00:16:58,600 Speaker 1: were being forced to testify about their business and everything 293 00:16:58,880 --> 00:17:01,840 Speaker 1: that was going on. To me, one of the biggest 294 00:17:01,880 --> 00:17:04,760 Speaker 1: things that came out of it was the realization by 295 00:17:04,840 --> 00:17:10,320 Speaker 1: the public that sports betting was the biggest revenue driver 296 00:17:11,400 --> 00:17:13,800 Speaker 1: for organized crime. And to me, Dave, I don't know 297 00:17:13,840 --> 00:17:17,960 Speaker 1: if you have studied and seen differently, that felt like 298 00:17:19,240 --> 00:17:23,119 Speaker 1: a death blow for sports betting. That felt like a 299 00:17:23,240 --> 00:17:25,280 Speaker 1: fun thing people did in the community to being sort 300 00:17:25,320 --> 00:17:28,400 Speaker 1: of a nefarious, dangerous thing, and it changed that business 301 00:17:28,520 --> 00:17:30,280 Speaker 1: is trajectory, yeah. 302 00:17:30,200 --> 00:17:32,680 Speaker 3: Because if you look at the history of illegal gambling, 303 00:17:32,800 --> 00:17:35,480 Speaker 3: right back in the twenties, when we know organized crime 304 00:17:35,640 --> 00:17:37,679 Speaker 3: was doing a lot of stuff, you would see if 305 00:17:37,720 --> 00:17:39,920 Speaker 3: you go back in the newspaper archives, we'll talk about 306 00:17:40,040 --> 00:17:43,080 Speaker 3: local rackets, boss. So there was like the Brooklyn rackets 307 00:17:43,119 --> 00:17:45,520 Speaker 3: and the Waterfront rackets, and the Newark rackets and the 308 00:17:45,600 --> 00:17:49,080 Speaker 3: Philly rackets. It was all local. Okay, what happens in 309 00:17:49,160 --> 00:17:51,600 Speaker 3: nineteen fifteen fifty one, and the keyf offer is okay, 310 00:17:52,040 --> 00:17:54,879 Speaker 3: he needs an issue. He wants to be president, he 311 00:17:55,000 --> 00:17:57,920 Speaker 3: needs an issue. Kind of went into antitrust stuff, but 312 00:17:58,000 --> 00:18:01,679 Speaker 3: that didn't excite people. McCarthy he had already taken anti communism, 313 00:18:02,080 --> 00:18:05,159 Speaker 3: so that's gone, Well, what about gambling. Well, wait, the 314 00:18:05,280 --> 00:18:08,280 Speaker 3: local gambling you're doing with your bookie, that's actually part 315 00:18:08,320 --> 00:18:12,520 Speaker 3: of this national or even international crime syndicate. So it's 316 00:18:12,520 --> 00:18:15,320 Speaker 3: a national issue, so Congress has jurisdiction because across the 317 00:18:15,400 --> 00:18:19,000 Speaker 3: state lines, and that's where it really shifted. That's where 318 00:18:19,040 --> 00:18:21,320 Speaker 3: you had the idea of the mafia as a national 319 00:18:21,440 --> 00:18:25,080 Speaker 3: organization or even international organization. Before that, it was all local, 320 00:18:25,320 --> 00:18:27,560 Speaker 3: you know. And again, it's kind of fun to go 321 00:18:27,680 --> 00:18:30,160 Speaker 3: back in the archives and see when they start using 322 00:18:30,200 --> 00:18:32,720 Speaker 3: that language. So yeah, it did change the narrative because 323 00:18:32,760 --> 00:18:34,720 Speaker 3: originally people said, well, yeah, I'm just putting down a 324 00:18:34,760 --> 00:18:37,280 Speaker 3: two dollar bet. And there's a book in the archives 325 00:18:37,400 --> 00:18:41,399 Speaker 3: called a two dollars bet means murder, Wow, And it's 326 00:18:41,480 --> 00:18:44,040 Speaker 3: trying to tell people, yeah, your harmless sports betting is 327 00:18:44,119 --> 00:18:48,679 Speaker 3: actually funding organized crime, and that did shift the narrative. 328 00:18:48,680 --> 00:18:49,560 Speaker 3: You're absolutely right. 329 00:18:50,680 --> 00:18:53,600 Speaker 1: Yeah, there's nothing like a complete and total extraction from 330 00:18:53,640 --> 00:18:55,960 Speaker 1: your two dollars bet to that being the reason why 331 00:18:56,720 --> 00:18:58,560 Speaker 1: the person down the street is getting knocked off. 332 00:18:58,840 --> 00:19:01,760 Speaker 5: I mean, I've been killed by a small bet before 333 00:19:02,160 --> 00:19:03,080 Speaker 5: it's done me that much. 334 00:19:03,400 --> 00:19:04,600 Speaker 3: That makes sense. 335 00:19:06,520 --> 00:19:11,200 Speaker 5: One of my kind of favorite themes of the of 336 00:19:11,680 --> 00:19:12,359 Speaker 5: both your books. 337 00:19:12,960 --> 00:19:14,000 Speaker 3: But there's so much. 338 00:19:16,680 --> 00:19:22,000 Speaker 5: There's so much gambling embroiled in parts of American history 339 00:19:22,000 --> 00:19:25,840 Speaker 5: and American culture and really international world history. Going back 340 00:19:25,920 --> 00:19:29,440 Speaker 5: hundreds of years. But one of my favorite anecdotes was 341 00:19:29,560 --> 00:19:32,920 Speaker 5: that in the middle of the nineteenth century, the first 342 00:19:33,160 --> 00:19:38,240 Speaker 5: major regulatory act in congressional history, so tigers have been 343 00:19:38,280 --> 00:19:42,760 Speaker 5: around for like whatever eighty years, related to boiler construction 344 00:19:43,080 --> 00:19:47,240 Speaker 5: and steamboat licensing. Could you explain why that was related 345 00:19:47,240 --> 00:19:47,720 Speaker 5: to gambling? 346 00:19:48,280 --> 00:19:50,200 Speaker 3: Okay, so we all know this isn't the golden age 347 00:19:50,200 --> 00:19:54,840 Speaker 3: of steamboats all that fun stuff. Also people use steamboats, 348 00:19:55,720 --> 00:19:58,840 Speaker 3: they became gambling tools. People both gambled on them, you know, 349 00:19:59,040 --> 00:20:02,680 Speaker 3: playing all kinds of aims, especially poker, but also people 350 00:20:02,720 --> 00:20:05,160 Speaker 3: would bet which steamboat was going to get there first. 351 00:20:05,640 --> 00:20:07,600 Speaker 3: The captains were cut in on it so they would 352 00:20:07,640 --> 00:20:11,080 Speaker 3: have an incentive, and they found that captains and the 353 00:20:11,160 --> 00:20:14,879 Speaker 3: crew would push the steamship so hard that boilers exploded, 354 00:20:15,480 --> 00:20:17,439 Speaker 3: and they said, this is too much risk. We've got 355 00:20:17,480 --> 00:20:19,199 Speaker 3: to cut back in this. So it is amazing how 356 00:20:19,280 --> 00:20:23,119 Speaker 3: something like that, And it also shows how universal that 357 00:20:23,240 --> 00:20:27,320 Speaker 3: gambling gene is, where like literally the vessel you're riding 358 00:20:27,400 --> 00:20:30,040 Speaker 3: on with the high pressure steam that is deadly that 359 00:20:30,160 --> 00:20:32,560 Speaker 3: you know has killed people before, you're still going to 360 00:20:32,640 --> 00:20:35,720 Speaker 3: overload it just to get that edge. That is wild. 361 00:20:36,320 --> 00:20:37,040 Speaker 3: It's crazy that. 362 00:20:37,720 --> 00:20:40,960 Speaker 5: You report that in one year five hundred people died 363 00:20:41,000 --> 00:20:41,919 Speaker 5: from this, and in. 364 00:20:42,000 --> 00:20:46,359 Speaker 7: Congress is like, holy shit, guys, you keep blowing up 365 00:20:46,400 --> 00:20:50,359 Speaker 7: your own passengers because you can't just erasing your steamboats. 366 00:20:50,720 --> 00:20:54,120 Speaker 7: We are going to make our first ever regulatory action' hilarious. 367 00:20:54,200 --> 00:20:57,600 Speaker 5: And obviously you know what tremendous about about Las Vegas 368 00:20:57,640 --> 00:21:00,399 Speaker 5: and its history, and we'll dive into that shortly. But 369 00:21:00,960 --> 00:21:05,199 Speaker 5: those teamboats obviously related to the big business of New Orleans. 370 00:21:05,600 --> 00:21:09,320 Speaker 5: Could you explain briefly, you know, kind of how important 371 00:21:10,280 --> 00:21:12,959 Speaker 5: New Orleans was to the development of American gambling pre 372 00:21:13,119 --> 00:21:13,720 Speaker 5: Las Vegas. 373 00:21:14,040 --> 00:21:15,680 Speaker 3: Yeah, I mean, New Orleans is huge. It was really 374 00:21:15,720 --> 00:21:19,160 Speaker 3: America's first gambling capital, without a doubt. You had the French, 375 00:21:19,240 --> 00:21:21,199 Speaker 3: you had the Spanish, you had Native Americans, you had 376 00:21:21,240 --> 00:21:24,639 Speaker 3: African cultures coming in there. So you also had a 377 00:21:24,680 --> 00:21:26,000 Speaker 3: lot of people, a lot of money. It was a 378 00:21:26,080 --> 00:21:30,640 Speaker 3: thriving port. So it really is where America. If people 379 00:21:30,680 --> 00:21:33,159 Speaker 3: in America wanted to gamble, most gambling was happening there. 380 00:21:33,200 --> 00:21:36,720 Speaker 3: They experimented with legal gambling houses really early on in 381 00:21:36,760 --> 00:21:39,719 Speaker 3: the nineteenth century. The games of poker and crafts were 382 00:21:39,760 --> 00:21:42,879 Speaker 3: both both born in New Orleans or near New Orleans. 383 00:21:43,160 --> 00:21:47,200 Speaker 3: So really New Orleans in the nineteenth century was the 384 00:21:47,320 --> 00:21:49,320 Speaker 3: capital of gambling in America without a doubt. 385 00:21:50,720 --> 00:21:51,160 Speaker 5: Incredible. 386 00:21:51,200 --> 00:21:54,280 Speaker 6: Yeah, I just want to piggyback off that. I've thought 387 00:21:54,280 --> 00:21:56,920 Speaker 6: a lot about this and you know, gambling. To me, 388 00:21:56,960 --> 00:21:59,159 Speaker 6: it's a really important part of my life. And you know, 389 00:21:59,280 --> 00:22:01,159 Speaker 6: you seem like some of knows all about I mean, 390 00:22:01,240 --> 00:22:04,359 Speaker 6: every little detail, every story. And you know, a story 391 00:22:04,400 --> 00:22:05,639 Speaker 6: I love that I read a long time ago is 392 00:22:05,680 --> 00:22:08,720 Speaker 6: about Native Americans didn't have a word for lie, but 393 00:22:08,800 --> 00:22:10,760 Speaker 6: they did have a word for bet. And I always 394 00:22:10,760 --> 00:22:13,240 Speaker 6: thought that's such a human thing, like at our core, 395 00:22:13,840 --> 00:22:16,359 Speaker 6: I mean, think of the earliest man. What you said was, Buddy, 396 00:22:16,359 --> 00:22:17,800 Speaker 6: I bet you I can race you home and beat 397 00:22:17,800 --> 00:22:19,639 Speaker 6: you in a race where I can kill that animal 398 00:22:19,640 --> 00:22:21,320 Speaker 6: before you can kill it, like a little bet like that. 399 00:22:21,960 --> 00:22:25,600 Speaker 6: What is your discovery of the earliest bets ever written 400 00:22:25,680 --> 00:22:27,159 Speaker 6: or made in human history? 401 00:22:27,600 --> 00:22:29,720 Speaker 3: What goes way? It goes back really far. And I've 402 00:22:29,760 --> 00:22:31,520 Speaker 3: got another layer of this, you know, so in the earth, 403 00:22:31,640 --> 00:22:34,880 Speaker 3: basically for a lot of human history, people weren't living 404 00:22:34,920 --> 00:22:37,840 Speaker 3: in settlements, the first settlements, you know, we find evidence 405 00:22:37,880 --> 00:22:42,320 Speaker 3: of gambling, you know, primitive dice, things like that, and 406 00:22:42,480 --> 00:22:44,399 Speaker 3: kind of the funny thing is so like if we 407 00:22:44,480 --> 00:22:46,639 Speaker 3: would say, and I'm not saying this is the absolute year, 408 00:22:46,680 --> 00:22:48,879 Speaker 3: but if we say the earliest dice were ten thousand 409 00:22:48,920 --> 00:22:52,520 Speaker 3: years old, the earliest cheating dice crooked dice, or like 410 00:22:53,240 --> 00:22:55,400 Speaker 3: nine and ninety nine years old, So cheating was also 411 00:22:55,440 --> 00:22:58,080 Speaker 3: part of it a long ways away, and it's kind 412 00:22:58,080 --> 00:23:00,200 Speaker 3: of funny. Like one of the more poignant stories is 413 00:23:01,119 --> 00:23:05,720 Speaker 3: the when Mount Vesuvius erupted and POMPEII was engulfed in ash, 414 00:23:05,800 --> 00:23:09,520 Speaker 3: you know, in the taverns. You know, there was this 415 00:23:09,680 --> 00:23:12,840 Speaker 3: one thing where it was a gambling table and they 416 00:23:12,960 --> 00:23:17,359 Speaker 3: had the guy's debts were like just scratched up on 417 00:23:17,400 --> 00:23:20,879 Speaker 3: the wall and they're just thinking like suddenly there's all 418 00:23:20,920 --> 00:23:23,359 Speaker 3: the ash and the lava coming down, and this guy's 419 00:23:23,600 --> 00:23:24,960 Speaker 3: last thing is like, oh man. 420 00:23:25,480 --> 00:23:29,840 Speaker 1: I'm down, and then he's like, great, I'm off the hook. 421 00:23:31,400 --> 00:23:33,879 Speaker 1: That's I was actually thinking. The guy who won is like, 422 00:23:34,359 --> 00:23:37,320 Speaker 1: are you freaking kidding me? I finally hit a streak 423 00:23:37,960 --> 00:23:39,280 Speaker 1: and now we're all going under. 424 00:23:39,440 --> 00:23:40,640 Speaker 4: This is ridiculous. 425 00:23:41,280 --> 00:23:45,200 Speaker 5: Yeah, really bad beat. Volcanic bad beat for sure, Yeah, volcanic. 426 00:23:45,280 --> 00:23:46,840 Speaker 5: So yeah, I can't get worse than that. 427 00:23:47,920 --> 00:23:49,480 Speaker 1: That was good. 428 00:23:51,440 --> 00:23:53,560 Speaker 5: One thing I wanted to also point out from your 429 00:23:53,600 --> 00:23:56,840 Speaker 5: book is you have this recurring theme which I really enjoyed, 430 00:23:56,920 --> 00:23:59,920 Speaker 5: kind of the Simon's point of you, like, you go 431 00:24:00,160 --> 00:24:04,040 Speaker 5: back to the earliest bets made in humankind, but all 432 00:24:04,080 --> 00:24:06,200 Speaker 5: the way up to the present day. You keep describing 433 00:24:06,600 --> 00:24:10,320 Speaker 5: societies that are getting more and more advanced. Gambling exists 434 00:24:10,520 --> 00:24:13,880 Speaker 5: because it's people are congregating. Then gambling is frowned upon, 435 00:24:14,160 --> 00:24:16,240 Speaker 5: that it is outlawed, and that it is found to 436 00:24:16,320 --> 00:24:21,000 Speaker 5: be totally irrepressible, and that it is eventually tolerated or regulated, 437 00:24:21,080 --> 00:24:23,480 Speaker 5: but that it happens in every corner of the world 438 00:24:24,040 --> 00:24:26,680 Speaker 5: over and over and over again for thousands of years. 439 00:24:27,200 --> 00:24:29,960 Speaker 5: So looking back at the history of gambling kind of 440 00:24:30,119 --> 00:24:34,639 Speaker 5: overall and maybe Las Vegas specifically, our audience is mostly 441 00:24:34,800 --> 00:24:37,880 Speaker 5: sports betters, Like, what are the lessons that our audience 442 00:24:38,040 --> 00:24:38,960 Speaker 5: can take away. 443 00:24:40,040 --> 00:24:42,720 Speaker 3: Well, it's basically, I mean, there's a couple of them. 444 00:24:42,760 --> 00:24:45,439 Speaker 3: First of all, people have always gambled. I mean, obviously 445 00:24:45,560 --> 00:24:47,640 Speaker 3: not everybody, but a lot of people have always gambled. 446 00:24:48,440 --> 00:24:51,960 Speaker 3: But things do go in cycles, and there's no reason 447 00:24:52,040 --> 00:24:53,720 Speaker 3: to think that people are going to keep on betting 448 00:24:53,760 --> 00:24:56,479 Speaker 3: the way they're betting right now, you know, because if 449 00:24:56,520 --> 00:24:59,040 Speaker 3: we look back, just looking at casinos in Vegas in 450 00:24:59,080 --> 00:25:01,360 Speaker 3: the sixties, and we're just going to go back sixty years, 451 00:25:01,400 --> 00:25:04,760 Speaker 3: which is not that much time historically, but like sixties, 452 00:25:05,560 --> 00:25:09,080 Speaker 3: they're mostly playing craps. Blackjack is just starting to get 453 00:25:09,160 --> 00:25:11,399 Speaker 3: big because skill play is just starting to get popular, 454 00:25:11,440 --> 00:25:14,520 Speaker 3: but it's still mostly craps. There's maybe a couple of 455 00:25:14,560 --> 00:25:17,600 Speaker 3: dozen slot machines, is not that big a deal, and 456 00:25:17,680 --> 00:25:19,560 Speaker 3: the casinos are a lot smaller. Go to the nineties, 457 00:25:20,080 --> 00:25:24,199 Speaker 3: giant air conditioned slot machine houses, just total slot machines. 458 00:25:24,320 --> 00:25:26,320 Speaker 3: But the slot machines look really different than they are today. 459 00:25:26,320 --> 00:25:29,240 Speaker 3: They're mostly steppers, a couple of video machines, but mostly 460 00:25:29,240 --> 00:25:33,600 Speaker 3: steppers versus today. Less focus in the gambling, more focus 461 00:25:33,680 --> 00:25:36,959 Speaker 3: and everything else. You've got electronic table games, You've got 462 00:25:37,000 --> 00:25:40,240 Speaker 3: all kinds of things evolving, you know, And that's and 463 00:25:40,359 --> 00:25:42,800 Speaker 3: think about how sports betting has changed too with the 464 00:25:42,920 --> 00:25:45,119 Speaker 3: advent of technology, and now you don't have to go 465 00:25:45,240 --> 00:25:49,359 Speaker 3: to the bookie bookies in your phone, so there's just 466 00:25:49,440 --> 00:25:50,879 Speaker 3: a lot of that going on. And I think my 467 00:25:51,000 --> 00:25:55,040 Speaker 3: other lesson is, you know, they say the house always wins, 468 00:25:56,440 --> 00:25:58,840 Speaker 3: Usually the house does but when it does, and I 469 00:25:59,240 --> 00:26:01,280 Speaker 3: this might be kind of ominous for sports betting. You know, 470 00:26:01,320 --> 00:26:03,600 Speaker 3: when the house doesn't win, the house tends to change 471 00:26:03,640 --> 00:26:07,440 Speaker 3: the rules. So if people find something, find an exploit, 472 00:26:07,560 --> 00:26:10,440 Speaker 3: they will change the rules to prevent that because the 473 00:26:10,560 --> 00:26:12,639 Speaker 3: house has to win otherwise they don't stay in business. 474 00:26:13,480 --> 00:26:16,440 Speaker 5: Oh, for sure, that's another recurring theme throughout throughout history. 475 00:26:17,280 --> 00:26:20,920 Speaker 1: Well, that's also why the States didn't want to be 476 00:26:21,720 --> 00:26:25,760 Speaker 1: in that business, right They worried that they all of 477 00:26:25,800 --> 00:26:27,600 Speaker 1: a sudden would have a season where they owe money 478 00:26:27,600 --> 00:26:28,840 Speaker 1: instead of are taking in money. 479 00:26:28,880 --> 00:26:31,680 Speaker 4: And what do you do with you know, that hole 480 00:26:32,119 --> 00:26:33,240 Speaker 4: in the budget. 481 00:26:34,520 --> 00:26:40,520 Speaker 1: Sports betting specifically, why do you think, I guess from 482 00:26:40,560 --> 00:26:42,520 Speaker 1: your point of view, you said it'll change. 483 00:26:43,400 --> 00:26:47,320 Speaker 4: How is it different than what you thought it. 484 00:26:47,320 --> 00:26:50,280 Speaker 1: Would be when it was legalized, even in these past, 485 00:26:50,359 --> 00:26:52,000 Speaker 1: say seven years. 486 00:26:52,480 --> 00:26:54,080 Speaker 3: Well, it's really interesting because if you look at the 487 00:26:54,160 --> 00:26:59,000 Speaker 3: history of sports betting in Nevada, traditionally it was maybe 488 00:26:59,160 --> 00:27:01,879 Speaker 3: and I'm saying from the eighties onward, when you had 489 00:27:01,920 --> 00:27:04,399 Speaker 3: the advent of casinos being in sports betting, it was 490 00:27:04,480 --> 00:27:08,159 Speaker 3: maybe one percent of total Nevada gaming revenue, maybe one percent. 491 00:27:08,600 --> 00:27:10,560 Speaker 3: You know, then in the early twenty tens, we get 492 00:27:10,640 --> 00:27:12,560 Speaker 3: up to two percent and kind of into three percent. 493 00:27:12,680 --> 00:27:15,600 Speaker 3: So it really is something in Nevada. It really is 494 00:27:16,440 --> 00:27:18,960 Speaker 3: an amenity to bring people in. The whole idea that 495 00:27:19,040 --> 00:27:22,720 Speaker 3: they had is I don't want my hot blackjack player 496 00:27:23,800 --> 00:27:26,520 Speaker 3: leaving to go someplace else to place a bet, so 497 00:27:26,560 --> 00:27:29,160 Speaker 3: I'm gonna have this here even if it doesn't make money. 498 00:27:29,240 --> 00:27:31,880 Speaker 3: And you know, every slot manager in the world is saying, 499 00:27:32,160 --> 00:27:35,400 Speaker 3: if I had that space that the sports book has 500 00:27:35,520 --> 00:27:37,680 Speaker 3: or the polkroom has, I could make the revenue to 501 00:27:37,720 --> 00:27:39,159 Speaker 3: make a year. I could make in a month, you 502 00:27:39,240 --> 00:27:43,560 Speaker 3: know that, And like true, but then they're gonna leave 503 00:27:43,560 --> 00:27:45,720 Speaker 3: to go bet in someplace else, and they're they're gonna 504 00:27:45,960 --> 00:27:48,600 Speaker 3: gamble there. So they really did do as amenity. What 505 00:27:48,720 --> 00:27:51,600 Speaker 3: we've seen, you know, in the past ten years or 506 00:27:51,640 --> 00:27:53,920 Speaker 3: even less, is the emergence of sports betting as a 507 00:27:53,960 --> 00:27:58,160 Speaker 3: revenue source in its own through online and mobile, which 508 00:27:58,240 --> 00:28:00,119 Speaker 3: is something we have not seen in Nevada before or 509 00:28:00,119 --> 00:28:03,120 Speaker 3: so that's totally different. And it did you know way 510 00:28:03,240 --> 00:28:05,440 Speaker 3: back when, back in twenty ten, when I was trying 511 00:28:05,440 --> 00:28:08,200 Speaker 3: to extrapolate, well, how big of a market is it, Like, well, 512 00:28:08,680 --> 00:28:12,640 Speaker 3: if it's two percent, it'll be this and it turned 513 00:28:12,640 --> 00:28:15,280 Speaker 3: out to be a lot bigger than that because behaviors changed. 514 00:28:15,800 --> 00:28:17,479 Speaker 3: So that's just proof that it happens. 515 00:28:18,160 --> 00:28:19,800 Speaker 1: Yeah, I remember when I first started going out to 516 00:28:19,920 --> 00:28:22,840 Speaker 1: Vegas and I was working on the odds, and I 517 00:28:22,880 --> 00:28:27,720 Speaker 1: would get the numbers from the Nevada Gaming Control Board 518 00:28:28,320 --> 00:28:33,760 Speaker 1: of the total handle and then the hold for these 519 00:28:33,800 --> 00:28:38,440 Speaker 1: sports books, and I think, correct me if I'm wrong, 520 00:28:39,080 --> 00:28:43,240 Speaker 1: late nineties, early two thousands, it would be like six 521 00:28:43,400 --> 00:28:48,240 Speaker 1: million a year in total revenue for every sports book 522 00:28:48,920 --> 00:28:52,920 Speaker 1: in the state of Nevada. I'm like, why the fuck 523 00:28:52,960 --> 00:28:55,480 Speaker 1: am I writing this book because this thing doesn't matter 524 00:28:55,960 --> 00:28:58,040 Speaker 1: at all, like we thought it was a big deal, 525 00:28:58,200 --> 00:29:02,720 Speaker 1: and it means nothing with the overall scheme of what 526 00:29:03,080 --> 00:29:06,680 Speaker 1: really is important in the state of Nevada. But it 527 00:29:06,880 --> 00:29:10,600 Speaker 1: has always sports betting since really the state of Nevada 528 00:29:10,720 --> 00:29:13,720 Speaker 1: legalized it in the seventies. I think has had this 529 00:29:13,920 --> 00:29:19,360 Speaker 1: outsized impact on the rest of the industry in terms 530 00:29:19,400 --> 00:29:21,600 Speaker 1: of not its importance, but a little bit of its glamour. 531 00:29:21,640 --> 00:29:22,240 Speaker 4: Would you say that. 532 00:29:22,840 --> 00:29:25,560 Speaker 3: Yeah, And obviously there's a lot more illegal betting going 533 00:29:25,600 --> 00:29:28,400 Speaker 3: on back then, which I don't think we even you know, 534 00:29:29,120 --> 00:29:31,840 Speaker 3: for a while, the FBI estimated it. Then at some 535 00:29:31,920 --> 00:29:34,080 Speaker 3: point they just kind of gave up. I learned that 536 00:29:34,120 --> 00:29:36,240 Speaker 3: when I was researching another book, covering the Wire, which 537 00:29:36,320 --> 00:29:39,800 Speaker 3: was about online gaming gambling prohibition. So it's kind of 538 00:29:39,800 --> 00:29:41,520 Speaker 3: interesting to see how they eventually said, we don't know 539 00:29:41,560 --> 00:29:44,160 Speaker 3: how much illegal gambling there is, illegal sports betting there 540 00:29:44,240 --> 00:29:47,960 Speaker 3: is going on. We know it's big, so's that's kind 541 00:29:48,000 --> 00:29:50,360 Speaker 3: of the uh, yeah, that's kind of where that is. 542 00:29:51,240 --> 00:29:53,800 Speaker 3: But Nevada, did you know? Originally yeah, they did views 543 00:29:53,800 --> 00:29:56,200 Speaker 3: it as an amenity, but now it's becoming a revenue 544 00:29:56,200 --> 00:29:57,080 Speaker 3: source in its own right. 545 00:29:58,240 --> 00:30:02,600 Speaker 5: This is a sloppyly awarded question, apologies, but like you 546 00:30:02,960 --> 00:30:05,960 Speaker 5: you could describe a let's say, a thousand years of 547 00:30:06,120 --> 00:30:09,400 Speaker 5: betting activity across the whole world, right, Yeah, all of them, 548 00:30:09,440 --> 00:30:12,680 Speaker 5: all of the betting activity in every form, always involved 549 00:30:14,320 --> 00:30:19,960 Speaker 5: other human parties, and almost always leaving your home, and 550 00:30:20,120 --> 00:30:24,680 Speaker 5: now only in the last like what decade you no 551 00:30:24,920 --> 00:30:29,440 Speaker 5: longer need both of those things. How enormous of a 552 00:30:29,560 --> 00:30:32,520 Speaker 5: change is that in the from a cultural standpoint to 553 00:30:32,720 --> 00:30:36,200 Speaker 5: like what betting is and how intrinsically human the activity is. 554 00:30:37,080 --> 00:30:39,200 Speaker 3: It's a big change. That's one that's probably about five 555 00:30:39,320 --> 00:30:41,160 Speaker 3: or six hundred years in the making to be a 556 00:30:41,240 --> 00:30:44,560 Speaker 3: little little, little little dramatic there. So if we think back, 557 00:30:44,760 --> 00:30:46,600 Speaker 3: you know, to the dawn and gambling, as we were 558 00:30:46,640 --> 00:30:50,680 Speaker 3: saying like, yeah, can I throw this, you know, rock 559 00:30:50,840 --> 00:30:52,960 Speaker 3: farther than you can? I catch this? Sound them before you, 560 00:30:53,160 --> 00:30:56,760 Speaker 3: you know that sort of thing, like Simon was saying, Yeah, 561 00:30:56,800 --> 00:31:00,640 Speaker 3: that is personal. Oh my horse is faster than your horse. 562 00:31:01,360 --> 00:31:03,960 Speaker 3: All right, well I don't know, but my buddy's horse 563 00:31:04,080 --> 00:31:06,520 Speaker 3: is faster than your buddy's horse. Okay, now we're doing that. 564 00:31:07,240 --> 00:31:11,200 Speaker 3: You know, my alma mater can be your alma mater 565 00:31:11,320 --> 00:31:14,960 Speaker 3: in football, okay, you know, my favorite team can be 566 00:31:15,040 --> 00:31:16,280 Speaker 3: your team. It was very personal. 567 00:31:17,160 --> 00:31:17,600 Speaker 2: You have. 568 00:31:19,080 --> 00:31:22,480 Speaker 3: This shift to mercantile gambling and commercial gambling that really 569 00:31:22,560 --> 00:31:26,120 Speaker 3: happens kind of really gets underway more in the Renaissance, 570 00:31:26,200 --> 00:31:28,800 Speaker 3: in that period the Reformation, as you have the rise 571 00:31:28,920 --> 00:31:32,240 Speaker 3: of sort of capitalism and fun things like that, and 572 00:31:33,080 --> 00:31:35,840 Speaker 3: it intensifies in America with the mention of the spot machine, 573 00:31:36,920 --> 00:31:38,600 Speaker 3: where like, if you think about what we did in America, 574 00:31:38,680 --> 00:31:42,440 Speaker 3: we took gambling and we invented a machine that can 575 00:31:42,520 --> 00:31:45,240 Speaker 3: gamble more efficiently, which is such an American thing. And 576 00:31:45,320 --> 00:31:48,640 Speaker 3: that's late nineteenth century eighteen ninety nine. This is what 577 00:31:48,760 --> 00:31:52,320 Speaker 3: they were doing, and this is what Americans are doing, like, oh, railroad, 578 00:31:52,360 --> 00:31:55,840 Speaker 3: will build build a bigger railroad. Telegraph yeah, all across 579 00:31:55,880 --> 00:31:58,800 Speaker 3: the country. Gambling, Yeah, here's a machine that'll do that 580 00:31:58,960 --> 00:32:04,800 Speaker 3: for me. So in every okay, looking at betting. Invention 581 00:32:04,960 --> 00:32:10,200 Speaker 3: of the telegraph, Hey huh, Now we can find out 582 00:32:10,240 --> 00:32:12,840 Speaker 3: what's happening at race tracks all around the country. We 583 00:32:12,960 --> 00:32:15,880 Speaker 3: can bet on them here. And that was really the 584 00:32:16,000 --> 00:32:19,400 Speaker 3: first remote betting, and I argue that was the first 585 00:32:19,440 --> 00:32:23,680 Speaker 3: remote remote entertainment where people would actually be hearing them narrate, 586 00:32:23,800 --> 00:32:25,840 Speaker 3: like what's happening in the race, and they're very excited. 587 00:32:26,120 --> 00:32:28,200 Speaker 3: And people were freaked out then because they're like, oh 588 00:32:28,280 --> 00:32:30,719 Speaker 3: my god, why are they jumping and yelling and screaming 589 00:32:30,760 --> 00:32:32,200 Speaker 3: and stuff and they're not even at the track. 590 00:32:33,200 --> 00:32:35,960 Speaker 5: I would say it's probably the intrinsic power of the 591 00:32:36,040 --> 00:32:39,880 Speaker 5: spoken word chad, Yeah, timeless, timeless and evocative. 592 00:32:40,000 --> 00:32:43,120 Speaker 3: Yeah, yes, yeah. And they had no concept of remote 593 00:32:43,200 --> 00:32:45,960 Speaker 3: entertainment like today where we'll watch the game and get 594 00:32:46,040 --> 00:32:48,640 Speaker 3: all excited even though we're not in the stadium. You know, 595 00:32:48,720 --> 00:32:50,720 Speaker 3: they had no concept and that was how that was born. 596 00:32:51,040 --> 00:32:55,640 Speaker 3: So it is really interesting. In every technological devancement, people 597 00:32:55,680 --> 00:32:58,440 Speaker 3: are betting, you know, telephones, people using telephones to bet, 598 00:32:58,680 --> 00:33:01,719 Speaker 3: Internet people using the Internet to bet. Mobile people are 599 00:33:01,800 --> 00:33:04,680 Speaker 3: using mobile now and I don't see a reason why 600 00:33:04,720 --> 00:33:05,520 Speaker 3: that won't continue. 601 00:33:06,800 --> 00:33:09,440 Speaker 4: So which came first? This is a chicken in the egg. 602 00:33:09,680 --> 00:33:09,880 Speaker 3: Is it. 603 00:33:12,160 --> 00:33:18,480 Speaker 1: Gambling as a point of pride or gambling for the 604 00:33:18,560 --> 00:33:22,760 Speaker 1: sake of gambling? And I think there's a nuanced difference there. 605 00:33:22,840 --> 00:33:28,160 Speaker 1: But before technology, gambling for the sake of pride, because 606 00:33:28,200 --> 00:33:31,360 Speaker 1: you ed had to be more in person and a 607 00:33:31,440 --> 00:33:37,160 Speaker 1: little bit more about competition versus gambling that is at 608 00:33:37,360 --> 00:33:41,920 Speaker 1: scale and is about gambling for gambling sake. 609 00:33:42,560 --> 00:33:45,080 Speaker 3: Yeah, I mean, think about the difference between poker and 610 00:33:45,280 --> 00:33:48,040 Speaker 3: slot machines. You know, poker, and I know everybody gets 611 00:33:48,120 --> 00:33:49,800 Speaker 3: bad beats and stuff like that, but it comes down 612 00:33:49,840 --> 00:33:52,440 Speaker 3: to I'm better than you and I'm taking your money 613 00:33:53,280 --> 00:33:55,240 Speaker 3: because of skill for even though yeah, I mean there 614 00:33:55,280 --> 00:33:57,440 Speaker 3: are bad beats and stuff like that, and you know, 615 00:33:57,560 --> 00:34:01,760 Speaker 3: whereas slot machines is just hey, I'm putting my money 616 00:34:01,800 --> 00:34:03,920 Speaker 3: up and whatever happens happens, it's out of my hands. 617 00:34:04,960 --> 00:34:07,040 Speaker 3: So it's that's that different. You know, people who just 618 00:34:07,120 --> 00:34:09,160 Speaker 3: want that rush of gambling versus people who want to 619 00:34:09,160 --> 00:34:11,480 Speaker 3: gamble to show their skill. You know, that is the 620 00:34:11,520 --> 00:34:13,919 Speaker 3: difference right there, and they probably always had a little 621 00:34:13,960 --> 00:34:16,680 Speaker 3: bit of them. Probably the skill dominated more early on, 622 00:34:16,880 --> 00:34:21,000 Speaker 3: but since we've gone to more totally random games like slots, 623 00:34:21,440 --> 00:34:23,440 Speaker 3: a little bit more of the pure gambling. 624 00:34:23,800 --> 00:34:26,200 Speaker 6: That's why I love gambling though, Like slots now there's 625 00:34:26,200 --> 00:34:29,040 Speaker 6: an edge. Like I know guys who have quit sports 626 00:34:29,080 --> 00:34:31,480 Speaker 6: betting on what I do, and they literally live in 627 00:34:31,560 --> 00:34:34,400 Speaker 6: books or outside sports books by the slot machines, and 628 00:34:34,480 --> 00:34:37,440 Speaker 6: they just watch people on machines and they know timing 629 00:34:37,520 --> 00:34:40,360 Speaker 6: wise that this machine's hot, like this is this machine's 630 00:34:40,400 --> 00:34:42,440 Speaker 6: right in the pop Like they just watch them and 631 00:34:42,480 --> 00:34:45,240 Speaker 6: play for hours and they'll wait and jump on their machine, 632 00:34:45,239 --> 00:34:47,879 Speaker 6: which is just to me, it's like crazy how people 633 00:34:48,000 --> 00:34:49,560 Speaker 6: just find an edge and every little thing like you 634 00:34:49,640 --> 00:34:51,920 Speaker 6: talked about, and you know, go back ten thousand years 635 00:34:51,960 --> 00:34:55,719 Speaker 6: of those fake dice pros. Everybody they're always me find 636 00:34:55,760 --> 00:34:58,040 Speaker 6: an edge. They might call that cheating. To me, that's 637 00:34:58,040 --> 00:34:59,840 Speaker 6: a professional, that's someone trying to find an edge. So 638 00:35:00,440 --> 00:35:02,239 Speaker 6: I love the breakdown of all these history right now. 639 00:35:02,280 --> 00:35:03,040 Speaker 6: It's really interesting. 640 00:35:04,040 --> 00:35:07,239 Speaker 1: You know, Nate Silver not to plug another book, But 641 00:35:07,440 --> 00:35:09,920 Speaker 1: talking about slots, he wrote a book that came out 642 00:35:09,920 --> 00:35:12,239 Speaker 1: over the summer called On the Edge, and he had 643 00:35:12,320 --> 00:35:15,520 Speaker 1: a section in there about people who, to your point, Simon, 644 00:35:16,320 --> 00:35:20,640 Speaker 1: are looking to find the edges in slot machines. I've 645 00:35:20,680 --> 00:35:25,279 Speaker 1: probably been to Vegas a thousand times, no exaggeration, in 646 00:35:25,440 --> 00:35:35,760 Speaker 1: my life, and I think that I've played slots zero times, Simon. 647 00:35:35,840 --> 00:35:39,000 Speaker 1: Like when you go to the casinos, now, do you 648 00:35:39,080 --> 00:35:42,759 Speaker 1: have any urge to do anything other than walk to 649 00:35:42,840 --> 00:35:45,160 Speaker 1: the book, make your bet and get out? Or will 650 00:35:45,160 --> 00:35:47,080 Speaker 1: you stay and play Parker? I know you love poker, 651 00:35:47,239 --> 00:35:49,440 Speaker 1: Like will you play poker? Will you play blackjack? 652 00:35:49,640 --> 00:35:51,760 Speaker 4: What is your menu? 653 00:35:52,360 --> 00:35:54,640 Speaker 6: That's the running joke to a lot of professional sports 654 00:35:54,680 --> 00:35:57,560 Speaker 6: better is it's like basketball players want to be rappers, 655 00:35:58,239 --> 00:36:00,640 Speaker 6: sports betters want to be poker players, and vice versa 656 00:36:00,680 --> 00:36:01,320 Speaker 6: poka players. 657 00:36:01,840 --> 00:36:03,520 Speaker 2: I know some really high level poke players. 658 00:36:03,560 --> 00:36:07,320 Speaker 6: I've seen when many tournaments in Vegas, especially in twenty fourteen, 659 00:36:07,520 --> 00:36:10,480 Speaker 6: I mean twenty fifteen when I was really in Vegas 660 00:36:10,520 --> 00:36:12,279 Speaker 6: a lot, and I would see these guys win one 661 00:36:12,360 --> 00:36:13,800 Speaker 6: hundred K and then just go bet it on like 662 00:36:13,840 --> 00:36:16,120 Speaker 6: a Lakers first half and lose it. And it's like 663 00:36:16,520 --> 00:36:19,040 Speaker 6: that's also why these sportsbook exists, right, They're hitting these 664 00:36:19,080 --> 00:36:21,400 Speaker 6: guys who are great at one thing, but something that 665 00:36:21,520 --> 00:36:23,480 Speaker 6: great at and they have confidence in when they shouldn't 666 00:36:23,480 --> 00:36:27,480 Speaker 6: have confidence in. So yeah, for me, slot machines, chat, 667 00:36:27,480 --> 00:36:28,799 Speaker 6: I'm with you on that. The only time I've ever 668 00:36:28,880 --> 00:36:30,680 Speaker 6: hit a slot machine is at the airport in Vegas, 669 00:36:31,040 --> 00:36:32,400 Speaker 6: Like that's the one time they'll get me. 670 00:36:32,760 --> 00:36:34,440 Speaker 2: If I got eight hours to kill and I got 671 00:36:34,480 --> 00:36:36,800 Speaker 2: the itch, I'll hit the slot machines and things like that. 672 00:36:37,000 --> 00:36:39,640 Speaker 2: But I'm with you. The big thing for me is blackjack. 673 00:36:39,680 --> 00:36:41,440 Speaker 6: I told you, if I'm really nervous about a bet 674 00:36:41,520 --> 00:36:43,879 Speaker 6: I made, I can't watch the game in the sports book, 675 00:36:44,000 --> 00:36:45,759 Speaker 6: I can't be around all the people talk and anything 676 00:36:45,840 --> 00:36:45,960 Speaker 6: like that. 677 00:36:46,600 --> 00:36:48,520 Speaker 2: I'll go right across the blackjack table. 678 00:36:48,560 --> 00:36:48,800 Speaker 3: You know it. 679 00:36:48,840 --> 00:36:50,880 Speaker 6: Give me a twenty dollars limit. I don't even care. 680 00:36:50,920 --> 00:36:53,160 Speaker 6: I'm just there to kill time while watching the game 681 00:36:53,200 --> 00:36:55,240 Speaker 6: on one of the corner of TVs. So that's definitely 682 00:36:55,239 --> 00:36:57,040 Speaker 6: my nervous hitter is. I just like to sit there 683 00:36:57,360 --> 00:36:59,520 Speaker 6: play blackjack for a couple hours while watching games. 684 00:36:59,520 --> 00:37:03,040 Speaker 1: Sometimes want to make extra money daily from your sports betting. 685 00:37:03,280 --> 00:37:05,399 Speaker 1: Simon knows I'm always trying to find ways to take 686 00:37:05,440 --> 00:37:07,960 Speaker 1: sports betting to the next level. That's why I'm excited 687 00:37:07,960 --> 00:37:11,000 Speaker 1: to tell you about edge boost, the financial platform that 688 00:37:11,080 --> 00:37:15,360 Speaker 1: pays you cash back to wage. 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Having worked in the casino 706 00:38:19,200 --> 00:38:21,560 Speaker 3: and having been awake at four thirty in the morning 707 00:38:21,600 --> 00:38:24,120 Speaker 3: watching people gamble kind of kills all the romance. Yeah, 708 00:38:24,719 --> 00:38:26,080 Speaker 3: what I'm hearing at four thirty. 709 00:38:25,920 --> 00:38:28,759 Speaker 5: Is my business day. One day the volcano is coming 710 00:38:28,800 --> 00:38:31,320 Speaker 5: for me. So that's yeah, more terms back, you know. 711 00:38:31,840 --> 00:38:34,719 Speaker 3: It's just yeah, you see things doing surveillance, it's like, uh, 712 00:38:35,680 --> 00:38:37,560 Speaker 3: you know, just like, well, I'm not in part of it. 713 00:38:37,640 --> 00:38:40,120 Speaker 3: For me, it's like I'm no smarter or luckier than 714 00:38:40,200 --> 00:38:43,720 Speaker 3: these people. So it's not it's got to be somebody. 715 00:38:43,719 --> 00:38:44,680 Speaker 3: I don't think it's going to be me. 716 00:38:45,120 --> 00:38:48,840 Speaker 5: Our audience will not be surprised that I absolutely adore gambling. 717 00:38:49,120 --> 00:38:51,080 Speaker 5: I can think of the two casinos where I was 718 00:38:51,120 --> 00:38:54,839 Speaker 5: made to move because they were shampooing the carpet while 719 00:38:54,880 --> 00:38:57,239 Speaker 5: I was playing, which, as you know, like they're doing 720 00:38:57,320 --> 00:39:00,200 Speaker 5: that at like four am, Christmas morning or whatever when 721 00:39:00,200 --> 00:39:02,399 Speaker 5: they're like no one, no one will be here, which 722 00:39:02,520 --> 00:39:05,719 Speaker 5: is never going to make anybody move. I proposed at 723 00:39:05,880 --> 00:39:09,640 Speaker 5: the roulette wheel of the Old Barbary Coast then Bill's 724 00:39:09,640 --> 00:39:14,000 Speaker 5: Gambling Hall. Yeah no, yeah, they I did not know 725 00:39:14,160 --> 00:39:18,000 Speaker 5: that she hit her number and they pushed the chips 726 00:39:18,040 --> 00:39:20,360 Speaker 5: out with the ring on top. I had had to 727 00:39:20,400 --> 00:39:23,080 Speaker 5: take the ring because I was traveling for business and 728 00:39:23,160 --> 00:39:26,520 Speaker 5: it was around Thanksgiving from Milwaukee to Denver to my 729 00:39:26,840 --> 00:39:30,319 Speaker 5: family's Thanksgiving in Baltimore to Las Vegas, so I hit 730 00:39:30,360 --> 00:39:32,400 Speaker 5: every time zone, which made me want to puke my 731 00:39:32,440 --> 00:39:35,239 Speaker 5: guts out. Don't travel with a diamond ring, uh And 732 00:39:35,360 --> 00:39:38,320 Speaker 5: then yeah, I just assumed that the uh Bill's Gammon 733 00:39:38,360 --> 00:39:40,719 Speaker 5: Hall would be fine with it. They were like, what 734 00:39:40,840 --> 00:39:42,600 Speaker 5: the fuck are you talking about. I was like, oh right, 735 00:39:42,640 --> 00:39:45,000 Speaker 5: I forgot to like clue you in on this. I 736 00:39:45,080 --> 00:39:47,920 Speaker 5: had lost enough money at Bill's historically that the pit 737 00:39:48,000 --> 00:39:50,279 Speaker 5: boss was like, oh dude, no problem, no problem, and 738 00:39:50,360 --> 00:39:52,800 Speaker 5: he showed the ring to the camera, placed it on 739 00:39:52,880 --> 00:39:55,040 Speaker 5: the chips and said, I'll clear this table out and 740 00:39:55,120 --> 00:39:56,560 Speaker 5: then you have to get you have to fill it. 741 00:39:56,960 --> 00:39:58,800 Speaker 5: So I got my my family who would come with me, 742 00:39:59,200 --> 00:40:01,960 Speaker 5: and we sat down and she lost every spinch. She 743 00:40:02,000 --> 00:40:04,440 Speaker 5: played ten numbers at a time, so you're gonna win 744 00:40:04,480 --> 00:40:08,480 Speaker 5: about one in every four spins. She lost twelve spins. 745 00:40:08,200 --> 00:40:08,560 Speaker 3: In a row. 746 00:40:09,440 --> 00:40:13,000 Speaker 5: It was absolutely excruciating, sweating through my clothes. By now, 747 00:40:13,200 --> 00:40:15,640 Speaker 5: the pit boss has told every other table in the 748 00:40:15,800 --> 00:40:18,359 Speaker 5: vicinity of what's happening. So every time she lost. There 749 00:40:18,400 --> 00:40:21,880 Speaker 5: were audible groans coming from the other tables, which she 750 00:40:22,000 --> 00:40:24,000 Speaker 5: thought she was being mocked. But yeah, it was great, 751 00:40:24,000 --> 00:40:27,960 Speaker 5: and we're November twenty ten, so still going strong, she said, yes, 752 00:40:28,719 --> 00:40:31,720 Speaker 5: still going strong. Yeah, it's great, dude, put. 753 00:40:31,600 --> 00:40:34,239 Speaker 3: Out another edition because that's the best gambling story I've heard. 754 00:40:34,280 --> 00:40:36,399 Speaker 5: Oh, I remember when I told the Bill sports Book, 755 00:40:36,400 --> 00:40:38,360 Speaker 5: Because of course, she says, yes, we hug and I'm like, 756 00:40:38,400 --> 00:40:41,440 Speaker 5: I got to go make some more bets, and I said, hey, 757 00:40:41,480 --> 00:40:43,640 Speaker 5: I just got engaged, and the guy's like, sounds good. 758 00:40:43,680 --> 00:40:46,279 Speaker 5: I go, no, I got engaged. Here the reaction of 759 00:40:46,480 --> 00:40:49,400 Speaker 5: the Bill's Gaming Gold sports Book employees to that I 760 00:40:49,480 --> 00:40:52,560 Speaker 5: had chosen to get in that casino at that time, 761 00:40:52,920 --> 00:40:56,759 Speaker 5: I've never seen people ask more clarifying questions. They would 762 00:40:56,760 --> 00:40:59,440 Speaker 5: have been less incredulous if I told them I arrived 763 00:40:59,520 --> 00:41:02,600 Speaker 5: there on a dragon, But to their credit, they gave 764 00:41:02,640 --> 00:41:05,279 Speaker 5: me the whole book of drink tickets. So shout out 765 00:41:05,320 --> 00:41:09,280 Speaker 5: to the now defunct Bill's Gambling Hall corner of Flamingo 766 00:41:09,360 --> 00:41:09,840 Speaker 5: in the Strip. 767 00:41:10,440 --> 00:41:11,480 Speaker 4: That is legendary. 768 00:41:11,560 --> 00:41:13,600 Speaker 1: Matt. I don't know how we've known each other for 769 00:41:13,640 --> 00:41:16,440 Speaker 1: as long as we have and you've never told me 770 00:41:16,560 --> 00:41:17,000 Speaker 1: that story. 771 00:41:17,360 --> 00:41:19,440 Speaker 5: This is my total coincidence. I'm drinking from a Bill's 772 00:41:19,440 --> 00:41:21,960 Speaker 5: gambling home mug as you think, which I bought that day. 773 00:41:22,560 --> 00:41:26,560 Speaker 1: You've told me every boring, long gambling story of your 774 00:41:26,760 --> 00:41:28,680 Speaker 1: entire life, and you've never told me that story. 775 00:41:29,000 --> 00:41:31,319 Speaker 5: I'm just full of surprises, Chad. You know, we all 776 00:41:31,440 --> 00:41:32,440 Speaker 5: contain multitudes. 777 00:41:33,080 --> 00:41:35,279 Speaker 1: Dave, you just said something that I wanted to follow 778 00:41:35,320 --> 00:41:38,799 Speaker 1: up on. You worked surveillance at casinos. 779 00:41:39,160 --> 00:41:42,680 Speaker 3: Oh yeah, yeah, back when that was my postgraduate work. 780 00:41:42,800 --> 00:41:46,680 Speaker 3: So when I was in undergrad, I worked security. After 781 00:41:46,719 --> 00:41:48,560 Speaker 3: I went and got a PhD, I came back, moved 782 00:41:48,600 --> 00:41:51,839 Speaker 3: back to Atlantic City and went in a surveillance Well did. 783 00:41:51,800 --> 00:41:53,120 Speaker 2: You guys take out to the loading docks? 784 00:41:53,160 --> 00:41:54,719 Speaker 6: Were you out there with them or you were still 785 00:41:54,719 --> 00:41:57,000 Speaker 6: in the back room just in their earpiece, And yeah, 786 00:41:57,040 --> 00:41:57,960 Speaker 6: take them out the back door. 787 00:41:58,920 --> 00:42:00,960 Speaker 3: Just to mean, yeah, I was kind of was thinking 788 00:42:00,960 --> 00:42:03,160 Speaker 3: about this. I really like doing security because you're out there, 789 00:42:04,040 --> 00:42:08,080 Speaker 3: you know, you're just out with people, You're you're interacting, 790 00:42:08,200 --> 00:42:10,160 Speaker 3: you're you're on the floor. You got all that excitement 791 00:42:10,719 --> 00:42:12,879 Speaker 3: in surveillance, you're just up in the room and it's 792 00:42:12,960 --> 00:42:15,719 Speaker 3: like sometimes it was kind of fun, kind of like 793 00:42:15,800 --> 00:42:18,360 Speaker 3: mystery science theater three thousand, just like watching TV and 794 00:42:18,520 --> 00:42:20,840 Speaker 3: like making jokes and stuff. Other times it was just 795 00:42:21,160 --> 00:42:23,440 Speaker 3: there's a lot of tedium. There's a lot of tedium 796 00:42:23,560 --> 00:42:27,799 Speaker 3: just watching people doing repetitive motions again and again and again, 797 00:42:28,120 --> 00:42:30,080 Speaker 3: and you kind of pick up like when someone's gambling, 798 00:42:30,160 --> 00:42:32,960 Speaker 3: like they're very focused and they're gambling. So if somebody's 799 00:42:32,960 --> 00:42:35,520 Speaker 3: gambling and they're looking around, well maybe I gotta watch 800 00:42:35,600 --> 00:42:37,920 Speaker 3: them because they shouldn't be doing that. They should be folks. 801 00:42:38,080 --> 00:42:41,160 Speaker 3: I remember one time there's this guy playing slots and 802 00:42:41,280 --> 00:42:45,160 Speaker 3: I'm like, he's really nervous. He's gambling. He's like really nervous, 803 00:42:45,239 --> 00:42:48,680 Speaker 3: and like he's rubbernecking. Okay, I'm pretty sure he's doing 804 00:42:48,719 --> 00:42:51,560 Speaker 3: a sort thing with slugs. I'm like all zoomed in, 805 00:42:51,719 --> 00:42:54,520 Speaker 3: like yeah, man, he's I'm gonna get him. This is great. 806 00:42:55,320 --> 00:42:57,800 Speaker 3: Then I assume it was his wife comes down and 807 00:42:57,880 --> 00:43:00,279 Speaker 3: it's like and that's why he was nervous because he 808 00:43:00,320 --> 00:43:01,960 Speaker 3: was waiting for his Maybe he was going to propose. 809 00:43:02,040 --> 00:43:04,919 Speaker 3: I don't know. Yeah, it's so funny, Like I thought 810 00:43:04,960 --> 00:43:07,200 Speaker 3: I had it. I was so excited, like, yeah, I 811 00:43:07,280 --> 00:43:10,160 Speaker 3: got finally got one. I got a slot scam. Here 812 00:43:10,239 --> 00:43:13,359 Speaker 3: didn't didn't have a slot scam. Mostly I think I had, 813 00:43:13,760 --> 00:43:16,719 Speaker 3: you know, just a couple of per snatching kind of things. 814 00:43:16,760 --> 00:43:18,920 Speaker 3: Those kinds of things did you. 815 00:43:18,920 --> 00:43:21,600 Speaker 1: Get pretty good though, at being able to tell if 816 00:43:21,680 --> 00:43:25,040 Speaker 1: someone was trying to count cards or cheat at the 817 00:43:25,120 --> 00:43:25,759 Speaker 1: table at all. 818 00:43:26,239 --> 00:43:28,160 Speaker 3: Now they had account team for that, so that was 819 00:43:28,239 --> 00:43:31,040 Speaker 3: kind of beyond what what I did. Then, you know, 820 00:43:31,120 --> 00:43:34,520 Speaker 3: it was more just which basically watching the money, and 821 00:43:34,560 --> 00:43:37,520 Speaker 3: again it is very a lot of tedium just watching 822 00:43:37,600 --> 00:43:41,719 Speaker 3: the money. Let's say there's an overage or an underage. 823 00:43:42,280 --> 00:43:45,160 Speaker 3: Underage is worse at a cash window. You've got to 824 00:43:45,200 --> 00:43:48,240 Speaker 3: go back and watch that cashier's whole shift, and basically 825 00:43:48,239 --> 00:43:50,560 Speaker 3: they're shooting it from the top down, so you're watching 826 00:43:50,600 --> 00:43:54,439 Speaker 3: it slow motion, then putting out the money, proving the chips, 827 00:43:54,440 --> 00:43:56,680 Speaker 3: stacking the chips. Okay, I know it's two hundred and 828 00:43:56,719 --> 00:43:59,960 Speaker 3: seventy dollars and we're met, we're one hundred dollars short, 829 00:44:00,160 --> 00:44:02,800 Speaker 3: so boom boom boom. Oh wow, now I've seen a 830 00:44:02,840 --> 00:44:06,640 Speaker 3: transaction where the cashier was eighty dollars short. So now 831 00:44:06,840 --> 00:44:09,040 Speaker 3: I've got to look for eighty dollars transactions too, not 832 00:44:09,200 --> 00:44:12,080 Speaker 3: just the big ones. That was like, yeah, my soul 833 00:44:12,160 --> 00:44:15,000 Speaker 3: left my body. I remember I spent like three shifts 834 00:44:16,400 --> 00:44:20,440 Speaker 3: scrutinizing this one thing, and then Super I was like, eh, 835 00:44:20,760 --> 00:44:23,000 Speaker 3: it probably happened during tape change, because back then they 836 00:44:23,040 --> 00:44:25,879 Speaker 3: had tapes, and I was like, oh God. Never felt 837 00:44:25,960 --> 00:44:27,000 Speaker 3: so defeated like that. 838 00:44:27,120 --> 00:44:29,279 Speaker 5: A lot like batting, it feels like you're in the 839 00:44:29,320 --> 00:44:31,160 Speaker 5: middle of the basketball. 840 00:44:31,239 --> 00:44:33,399 Speaker 3: Yeah, yeah, because I'm like, yeah, I know I'm gonna 841 00:44:33,440 --> 00:44:37,319 Speaker 3: find this, and you know they're yeah, So that's yeah, 842 00:44:37,480 --> 00:44:40,399 Speaker 3: that was quite a thing, Dave. 843 00:44:40,719 --> 00:44:44,360 Speaker 5: One of the themes book books is the h everything 844 00:44:44,400 --> 00:44:46,719 Speaker 5: that is old is new again, And one of my 845 00:44:46,800 --> 00:44:50,680 Speaker 5: favorite examples is in the middle of the nineteenth century, 846 00:44:50,920 --> 00:44:54,080 Speaker 5: you have Francois Blanc and he runs a bunch of 847 00:44:54,200 --> 00:44:57,800 Speaker 5: incredibly successful casinos. He's the guy that made Monte Carlo 848 00:44:58,960 --> 00:45:05,480 Speaker 5: luxurious gambling location, right, and he's visited by Napoleon's nephew 849 00:45:06,080 --> 00:45:08,839 Speaker 5: and he's a big celebrity. They can't wait to have him. 850 00:45:09,080 --> 00:45:12,520 Speaker 5: And he rolls up and bets only the table maximum 851 00:45:12,960 --> 00:45:15,879 Speaker 5: for like three days, and he kicks the shit out 852 00:45:15,880 --> 00:45:19,080 Speaker 5: of the casino. He wins an absolute fortune, and then 853 00:45:19,120 --> 00:45:21,040 Speaker 5: before they can win it back, he just pee packs 854 00:45:21,080 --> 00:45:24,120 Speaker 5: his stuff and leaves very abruptly. They could barely make 855 00:45:24,360 --> 00:45:26,879 Speaker 5: make the payment he took like basically all their cash 856 00:45:26,920 --> 00:45:29,719 Speaker 5: on hand. But in the all that is old is 857 00:45:29,800 --> 00:45:31,360 Speaker 5: new again. They were like, what are we gonna do? 858 00:45:31,600 --> 00:45:34,000 Speaker 5: He goes, here's what we're gonna do. Tell every person 859 00:45:34,360 --> 00:45:36,719 Speaker 5: in every contact that we have across Europe that this 860 00:45:36,840 --> 00:45:40,759 Speaker 5: guy cleaned us out. We are total dopes. Tell him 861 00:45:40,760 --> 00:45:43,080 Speaker 5: exactly how much you want, tell him how easy it 862 00:45:43,239 --> 00:45:46,360 Speaker 5: was for him. Let everybody know we are right for 863 00:45:46,440 --> 00:45:49,520 Speaker 5: the picking looses slots in town kind of mentality. 864 00:45:49,920 --> 00:45:50,520 Speaker 3: And it worked. 865 00:45:50,560 --> 00:45:53,400 Speaker 5: The next year was their most profitable year on record. 866 00:45:53,680 --> 00:45:56,840 Speaker 5: It feels like the sports book's helping to promote the 867 00:45:56,960 --> 00:45:59,840 Speaker 5: long shot parlays that hit that like there's a universal 868 00:46:00,040 --> 00:46:03,200 Speaker 5: there's a timelessness to all these tricks. I'm sure you 869 00:46:03,320 --> 00:46:04,480 Speaker 5: have a million examples. 870 00:46:04,880 --> 00:46:07,680 Speaker 3: Oh yeah. And it is just that basic psychology where 871 00:46:07,800 --> 00:46:11,240 Speaker 3: people report the big wins but nobody reports the losses. 872 00:46:11,480 --> 00:46:13,680 Speaker 3: We assume everyone else is winning but me, So I'm 873 00:46:13,680 --> 00:46:15,840 Speaker 3: gonna win soon because that's all I hear about. And 874 00:46:15,960 --> 00:46:19,440 Speaker 3: you know, in Vegas, when somebody wins at the airport slots, 875 00:46:19,520 --> 00:46:22,600 Speaker 3: that makes local news, like somebody wins, you know, fifty 876 00:46:22,640 --> 00:46:24,560 Speaker 3: thousand dollars in slots. It's like, what about all the 877 00:46:24,600 --> 00:46:27,080 Speaker 3: people who didn't win today at the slots? How come 878 00:46:27,120 --> 00:46:30,360 Speaker 3: that's not newsworthy? So, yeah, that is a that is 879 00:46:30,440 --> 00:46:33,160 Speaker 3: a thing. I don't think that's ever going to go away. 880 00:46:33,480 --> 00:46:35,600 Speaker 5: Yeah, people think all these things are new inventions. It's 881 00:46:35,640 --> 00:46:38,000 Speaker 5: like they've been doing They've been following a playbook that 882 00:46:38,120 --> 00:46:39,200 Speaker 5: is hundreds of years old. 883 00:46:39,480 --> 00:46:39,719 Speaker 3: Yeah. 884 00:46:39,719 --> 00:46:44,520 Speaker 1: All I heard from that Matt is that guy won 885 00:46:44,600 --> 00:46:47,440 Speaker 1: a lot and the casino lost a lot, and the 886 00:46:47,560 --> 00:46:51,200 Speaker 1: next year the casino made it back, which means Simon 887 00:46:51,239 --> 00:46:54,359 Speaker 1: and I next year, we are freaking. 888 00:46:54,560 --> 00:46:57,080 Speaker 5: Do I mean the advertising obviously would have worked on me, 889 00:46:57,239 --> 00:47:00,000 Speaker 5: So I can also appreciate the universality of the advertise 890 00:47:00,440 --> 00:47:02,480 Speaker 5: because I definitely would have been like, all right, pack 891 00:47:02,560 --> 00:47:05,880 Speaker 5: our buggies or whatever, the get on the railroad. We 892 00:47:05,960 --> 00:47:07,520 Speaker 5: got to hit this casino in France. 893 00:47:08,560 --> 00:47:11,160 Speaker 1: Dave, I want to thank you for coming on Roll 894 00:47:11,280 --> 00:47:14,680 Speaker 1: the Bones, which is a great book, a great reference book, 895 00:47:14,960 --> 00:47:19,719 Speaker 1: full of amazing anecdotes. Something for your money, another fabulous book. 896 00:47:19,840 --> 00:47:24,480 Speaker 1: Congrats on the release earlier this year. And that's not 897 00:47:24,600 --> 00:47:27,080 Speaker 1: wrong when he tells me to say you are the 898 00:47:27,200 --> 00:47:30,839 Speaker 1: pre eminent Vegas casino historian. 899 00:47:31,480 --> 00:47:34,560 Speaker 4: You got it all. Thanks for providing so many good stories. 900 00:47:35,000 --> 00:47:36,719 Speaker 3: Thanks. It means a lot coming from you guys too, 901 00:47:36,800 --> 00:47:39,239 Speaker 3: you know, humbling and gratifying. Yeah, I'm glad, you know, 902 00:47:39,280 --> 00:47:41,360 Speaker 3: And I hope people do like the books. It's just 903 00:47:41,440 --> 00:47:43,279 Speaker 3: trying to share a little bit of that excitement and 904 00:47:43,360 --> 00:47:45,760 Speaker 3: some of these cool stories that have happened. 905 00:47:46,160 --> 00:47:47,160 Speaker 4: Everyone go buy the books. 906 00:47:47,760 --> 00:47:50,160 Speaker 1: As a reminder, the Favorites podcast is presented by Bet 907 00:47:50,200 --> 00:47:52,799 Speaker 1: three sixty five and now new Bet three six five. 908 00:47:52,840 --> 00:47:55,000 Speaker 1: Customers get one hundred and fifty dollars in bonus bets 909 00:47:55,040 --> 00:47:57,799 Speaker 1: when you bet five dollars sign up using promo code 910 00:47:57,840 --> 00:47:59,759 Speaker 1: Favorites deposit ten dollars a place to bet for five 911 00:47:59,800 --> 00:48:02,080 Speaker 1: dollars to get one hundred and fifty dollars in bonus bets. 912 00:48:02,480 --> 00:48:05,400 Speaker 1: Those bonus bets can be used on spreads, totals, player props, futures, 913 00:48:05,440 --> 00:48:05,680 Speaker 1: and more. 914 00:48:06,360 --> 00:48:08,640 Speaker 4: Whatever the moment, It's never ordinary. At Bet three s five. 915 00:48:08,719 --> 00:48:13,120 Speaker 1: Must be twenty one or older and present in Arizona, Colorado, Indiana, Iowa, Louisiana, 916 00:48:13,200 --> 00:48:16,600 Speaker 1: North Carolina, New Jersey, Ohio, Pennsylvania, Virginia, or eighteen and 917 00:48:16,680 --> 00:48:20,200 Speaker 1: older in Kentucky gambling problem called one eight hundred gambler 918 00:48:20,320 --> 00:48:22,880 Speaker 1: or one eight hundred bets off in Iowa terms. Conditioned 919 00:48:22,920 --> 00:48:26,600 Speaker 1: restrictions apply. Simon and I will return worth our next 920 00:48:26,600 --> 00:48:28,720 Speaker 1: episode of the Favorites on the Action Network YouTube page 921 00:48:29,160 --> 00:48:32,920 Speaker 1: This Thursday, eleven am Eastern talking Free agency in the 922 00:48:33,040 --> 00:48:37,600 Speaker 1: NFL with Chris Raybond. Download us from Spotify, Apple Pods 923 00:48:37,880 --> 00:48:40,520 Speaker 1: wherever you get your pods, Rate review, Subscribe leaves five stars, 924 00:48:40,520 --> 00:48:43,080 Speaker 1: say whatever you want feedback as a gift till next time, 925 00:48:43,560 --> 00:48:43,880 Speaker 1: Love you. 926 00:48:52,920 --> 00:48:56,359 Speaker 5: Action Network reminds you please gamble responsibly. 927 00:48:56,800 --> 00:48:59,560 Speaker 3: If you or someone you care about has a gambling problem, 928 00:49:00,000 --> 00:49:02,520 Speaker 3: help is available twenty four to seven at one eight 929 00:49:02,600 --> 00:49:03,360 Speaker 3: hundred Gambler