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Business Roundtable


Business Roundtable with Matt Battaglia

The show where Entrepreneurs, High Level Executives, Business Owners, and Investors come to share insight and ideas about the future of business.

BRT 2.0 looks at the new trends in business, and how classic industries are evolving. We Profile the current Players weekly in an Interview format to give you an inside look, to learn from their own experiences.

Popular Topics Discussed: Business, Entrepreneurship, Investing, Stocks, Cannabis, Tech (AI, VR, Biotech, Chips, Electric Battery), Blockchain / Crypto, Real Estate, Legal, Vehicles, Franchising, Farming, Sales, Charity 

 

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May 11, 2021

BRT S02 EP19 (66) 05-09-2021 -

Topic: Sports Gambling is Legal in AZ and Beyond

 

What We Learned This Week

  • AZ legalized sports gambling 4/2021 & develop rules to start in the fall of 2021, will have similar setup to Nevada & tax rate of 6.75%
  • Low margin business – lots of data from NV, 55% win rate by sports book and then taxes
  • NJ legal battle, Supreme Court in 2018 - ‘Pasba’ struck down Federal ban, now a state matter, and states can legalize sports gambling (vs Federal law 1992 – only in Vegas)
  • Sports book will be inside US arenas, just like in Europe
  • Big Players – Caesars, MGM, Fan Duel, Draft Kings, Betfair, Sky Bet, Penn National Gaming & Barstool Sports

 

 

Guest: Adam Candee w/ Legal Sports Report

https://www.legalsportsreport.com/arizona/

https://www.linkedin.com/in/adamcandee/

 

 

AZ has just legalized sports gambling, and it is due to go live in the Fall of 2021

Adam Candee is a radio host and journalist who runs the top sports gambling info websites / podcast - Legal Sports Report (.com). He joins the show to talk all things sports gambling. We cover AZ and all of the other states (like NY) who just passed the initiative also, and potential tax revenues.

We talk the big players (Draft Kings, Barstool Sports) and the casinos who have thrown their hat in – Caesars, MGM. 

Adam tells of the history of sports gambling in the US, the growth of offshore books in the 1990s, and what we can learn from Europe’s sports betting market the last 20 years.

 

 

Notes:

Bio – NAU grad and worked in AZ sports, Covered AZ Cardinals, Gambling & fantasy sports & podcasts

Develop regulations and roll out to public

AZ legalized 4/2021 and develop rules to start in the fall of 2021

AZ has FAQ – gaming department and tax rate of 6.75% like NV

 

Many states copy rules from other states, Language is the same in many states

State – 6.75% to 20% high end, Operate through state lottery

‘Vig’ of current sports gambling would make mobsters jealous

 

Low margin business – lots of data from NV, 55% win rate by sports book and then taxes

NJ legal battle, Supreme Court in 2018 - ‘Pasba’ struck down Federal ban, now a state matter, and states can legalize sports gambling (vs Federal law 1992 – only in Vegas)

Daily fantasy sports on Fan Duel and Draft Kings

 

MD,LA,NY,AZ,SD – all legalizing, OH, FL moving forward

ID, UT and a few others may not legalize.

 

European  and UK market – Legal for long time.

Sports / biz in Europe

OTB – off track betting – site where races air on TV and people can place bets

 

Betting windows inside football arena in Europe

Backlash – gambling addiction – bombarding people with gambling ads

Regulators cracked down in 2020 in UK

 

European operators moved to US

Betfair, Bet 365 ‘in play betting’ in NJ

Betfair – Andrew Black – Rich Koch invested

Flooder – Sky Bet   Post Bet (Australian)

Patty Power owns Fan Duel

 

Draft Kings

Fan Duel partners with Phx Suns – Sports book in Suns arena in Fall 2021

Vegas – casinos, Caesars & MGM – growth with sports betting

Growth by acquisition (M&A) Caesars buys William Hill

 

Leagues need engagement and gambling helps lots of comp. with internet

Appointment TV - Multi bill money deals with TV and Amazon

NBA – Tim Donaghy scandal, NBA ref fixing games

NFL / NBA etc – How dependent TV audience b/c gambling.

 

Estimates of market size - 2020 numbers – pandemic $ wagered in NJ

NJ - 95% bet on a phone vs. 60% in Vegas

 

Legal in 2018 to go nationwide.

 

$55 billion market in U.S. estimated, Oct. 20 $3 billion / month, global $465 billion

Draft Kings - $57 / stock

Fan Duel

Betfair bet 365

 

Barstool sports book, Penn National Gaming (owns 36%)

25 states legalized - future states

U.S. future – betting at football or B-ball stadiums

How does Pete Rose feel about this?

 

1919 Black Sox – baseball scandal, threw World Series

Jimmy the Greek – smooth Jimmy Apollo – ‘Lock of the week’

Brent Musberger – Coded calls during the game ref. gambling

VSPN Network in Vegas

 

Casinos – sports book – status and future / MGM

Off shore casinos – (5 Dimes, My Bookie, Caesars, Ovada)

No taxes, No recourse, No regulations – issues with getting money.

 

1992 Congress / Supreme Court tried to halt sports gambling growth – moved it off shore - $150 billion annual black market

 

 

 

 

More Like This:

https://brt-show.libsyn.com/category/Sports-Chess-Gambling-Games-Crime-Misc.

 

 

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Business Roundtable with Matt Battaglia

The show where EntrepreneursHigh Level Executives, Business Owners, and Investors come to share insight and ideas about the future of businessBRT 2.0 looks at the new trends in business, and how classic industries are evolving

Common Topics Discussed: Business, Entrepreneurship, Investing, Stocks, Cannabis, Tech, Blockchain / Crypto, Real Estate, Legal, Sales, Charity, and more… 

BRT Podcast Home Page: https://brt-show.libsyn.com/

‘Best Of’ BRT Podcast: Click Here

BRT Podcast on Google: Click Here

BRT Podcast on Spotify: Click Here                   

More Info: https://www.economicknight.com/podcast-brt-home/

KFNX Info: https://1100kfnx.com/weekend-featured-shows/

 

Disclaimer: The views and opinions expressed in this program are those of the Hosts, Guests and Speakers, and do not necessarily reflect the views or positions of any entities they represent (or affiliates, members, managers, employees or partners), or any Station, Podcast Platform, Website or Social Media that this show may air on. All information provided is for educational and entertainment purposes. Nothing said on this program should be considered advice or recommendations in: business, legal, real estate, crypto, tax accounting, investment, etc. Always seek the advice of a professional in all business ventures, including but not limited to: investments, tax, loans, legal, accounting, real estate, crypto, contracts, sales, marketing, other business arrangements, etc.