Old guy former co-founder of @PrimeSportsbook & @primesuspects_ pod, sharing occasional views on the betting industry & Philly sports. That PASPA stuff, too
The media will all rush to a narrative of "legalizing sports betting led to this behavior"
The truth is "this behavior" has long existed, and legalizing sports betting created a world where cheaters could be found and punished
Miami Heat guard Terry Rozier was arrested early Thursday morning as part of an FBI sports betting gambling probe, sources tell ESPN. The Eastern District of New York and FBI director Kash Patel will hold a press conference at 10 am ET to announce arrests from investigation.
(1/4) $DKNG CEO Jason Robins full quote on DraftKings winning bet tax:
"Obviously, some people might just react negatively to the idea of being charged at all, but it's really fairly nominal and it makes a huge difference in our ability to make a reasonable margin..."
All of Massachusetts sports betting operators refusing to participate in today’s roundtable on the limiting of players is probably the biggest middle finger I’ve seen by licensees in the 20+ years I’ve been in this industry
Been thinking how like “taxing unrealized capital gains” this proposed Federal gambling tax change is, where someone may receive a tax bill when no actual profit has been made.
Doesn’t taxing folks for money they didn’t make seem so obviously wrong?
I started the legal & political effort in NJ to overturn the PASPA national ban on sports betting back in Nov 2008 with the hope of someday opening a sportsbook here
Today, it finally happened w/ @primesportsbook
Thank you to all of you who made it possible: this one’s for you
Nothing to see here…just the CEO of the largest US-based sports betting company admitting his multibillion-dollar firm can’t do what some offshore sportsbooks have done for >25 years
(*btw, “they don’t pay taxes” has zero to do w/ their risk mngt expertise)
DraftKings CEO Jason Robins spoke at a BofA event Thursday, and was asked about prediction markets. Here's a snippet, in which JR explains why he thinks it's harder for a prediction market to offer what an online sportsbook can. A DK can limit sharps, but a PM can't, he suggests.
What are "bonds" on Kalshi?
Bonds are events typically priced in the range of 80-95% probability of occurring, when their fair value should be closer to 98%/99%.
In my opinion, they are the most frequent mispricing that occurs on PMs since users naturally gravitate towards long
