Business of Betting with Jason Trost

On this episode of the Business of Betting Podcast, Jason answers listener-submitted questions and shares his insights on the latest developments in the industry, including the proposed UK gambling tax, sweepstakes models, and NCAA player prop markets. Hear him discuss: 01:26 - His recent trip to Vegas and G2E conference highlights 03:30 - Impact of proposed UK gambling tax increase 08:00 - Sweepstake models and their rise in the United States 10:45 - Industry optimism from recent G2E and SBC conferences 16:53 - NCAA’s consideration of banning player prop markets due to social media abuse 22:41 - Why PolyMarket and Kalshi predict Trump as the 2024 election favorite, despite traditional polls showing a close race ⚡️ Follow BoB on Twitter/X: https://x.com/bettingpod ⚡️ Follow Jason on Twitter/X: https://x.com/jasontrost ⚡️ Apply to be a guest here: https://www.businessofbetting.com/guest This episode is presented by Optimove, the #1 CRM Marketing solution for the iGaming industry. Hosted on Acast. See acast.com/privacy for more information.

On this episode of the Business of Betting Podcast, Jason is joined by Stuart Simms, the CEO of FairPlay Sports Media, recorded live at G2E in Las Vegas. Hear them discuss: 01:10 - The strategic shift from OddsChecker to Fairplay Sports Media 04:10 - Stuart’s personal health journey and diagnosis with cancer 08:20 - The impact of diet on health and cancer treatment 12:00 - Key takeaways from G2E and networking insights 13:30 - The changes in OddsChecker’s business model 16:40 - Acquisition of Quarter4 and integrating AI for predictive models in sports betting 19:30 - How AI and real-time data impact tools like Bet Builder 22:00 - The challenges of balancing transparency for consumers and relationships with bookmakers 25:40 - The pricing margins in sports betting 30:10 - Consumer price sensitivity in sports betting 32:00 - The future of betting exchanges and the role of user experience in adoption 33:50 - U.S. market opportunities for data-driven tools in sports betting ⚡️ Follow BoB on Twitter/X: https://x.com/bettingpod ⚡️ Follow Jason on Twitter/X: https://x.com/jasontrost ⚡️ Apply to be a guest here: https://www.businessofbetting.com/guest This episode is presented by #Optimove, the #1 CRM Marketing solution for the iGaming industry. Hosted on Acast. See acast.com/privacy for more information.

On this episode of the Business of Betting Podcast, Jason is joined by Dean Sisun from ProphetX. Hear them discuss: 02:04 - The overview of ProphetX and the sweepstakes model 04:12 - Postmortem on why ProphetX moved away from the betting exchange model 08:40 - Challenges with regulatory models in the betting industry 10:00 - Exploring the novelty factor and customer acquisition 11:25 - Predictions for the future viability of betting exchanges in the U.S. 13:32 - Understanding how sweepstakes stacks up to traditional sports betting 14:00 - Legality of the sweepstakes model 16:00 - The mechanics of turning sweepstakes into a cash prize 18:40 - Companies operating in the sweepstakes sports betting market 25:53 - The challenges of implementing the peer-to-peer model 26:51 - Managing a remote team, while moving to Miami ⚡️ Follow BoB on Twitter/X ⚡️ Watch BoB on Youtube ⚡️ Follow Jason on Twitter/X ⚡️ Apply to be a guest here This episode is presented by Optimove, the #1 CRM Marketing solution for the iGaming industry. Hosted on Acast. See acast.com/privacy for more information.

On this episode of the Business of Betting Podcast, Jason is joined by Bill Pascrell, III (BP3) at the SBC Summit in Lisbon, Portugal. Hear them discuss: 01:20 Pascrell’s Journey and Industry Insights shared 02:32 Debating the morality of gambling practices 04:09 Personal reflections and upcoming ethics debate preview 11:32 The Intersection of politics and gambling industry 15:00 Advice on how to engage in political advocacy 18:04 Challenges in legalizing sports betting across states 27:24 Discussing state dynamics and tribal sovereignty issues 29:54 The New Jersey compromise and casino concerns raised 31:57 The role of tribes in political coalitions building 32:27 Public perception and media Influence on gambling 35:22 Political betting and regulatory challenges explained 42:05 Federal vs. state regulation of gambling industry 46:08 Election perspective and political divisions discussed ⚡️ Follow BoB on Twitter/X ⚡️ Watch BoB on Youtube ⚡️ Follow Jason on Twitter/X ⚡️ Apply to be a guest here This episode is presented by Optimove, the #1 CRM Marketing solution for the iGaming industry. Hosted on Acast. See acast.com/privacy for more information.

On this episode of the Business of Betting Podcast, Jason returns after a summer break with his first solo "Office hours" episode, where he tackles questions surrounding regulation, prediction markets, bettor limits, the US presidential election, and the latest from within Smarkets. Hear him discuss: 01:00 - Jason’s summer break and family reflections 02:30 - Differences in French vs. American culture 05:00 - Kalshi's prediction markets and CFTC regulation 09:15 - Massachusetts Gaming Commission on limiting bettors 15:00 - The US presidential election race, and what the Smarkets markets are saying 45 days from the election 19:30 - Attending conferences like the upcoming SBC Summit and G2E 23:00 - Smarkets' current projects and updates ⚡️ Follow BoB on Twitter/X ⚡️ Watch BoB on Youtube ⚡️ Follow Jason on Twitter/X ⚡️ Apply to be a guest here This episode is presented by Optimove, the #1 CRM Marketing solution for the iGaming industry. Hosted on Acast. See acast.com/privacy for more information.

On this episode of the Business of Betting Podcast, Jason is joined by Dustin Gouker, Founder of Closing Line Consulting, and Joe Brennan Jr., Executive Chairman from Prime Sports. Hear them discuss: 01:35 - DraftKings' new winning surcharge announcement 02:45 - The states affected by the surcharge 03:20 - The stock market's reaction to the announcement 04:05 - Comparison of U.S. and international tax rates 06:30 - The potential impact on DraftKings' profitability 07:55 - The price sensitivity of American bettors 09:00 - Historical context of high tax rates in the industry 10:15 - Implications for competitors like FanDuel and Smarkets 12:50 - The adjusted EBITDA and financial metrics analysis 16:00 - Potential impact on VIP customers and betting volume 18:20 - Product comparison between sportsbooks and exchanges 20:00 - Broader implications for the sports betting industry 22:00 - Predictions on if DraftKings will implement the surcharge ⚡️ Follow BoB on Twitter/X ⚡️ Follow Jason on Twitter/X ⚡️ Apply to be a guest here This episode is presented by Optimove, the #1 CRM Marketing solution for the iGaming industry. Hosted on Acast. See acast.com/privacy for more information.

On this episode of the Business of Betting Podcast, Jason is joined by Jamie Hart from Conquer Technology. Hear them discuss: 1:10 - The recent UK elections and environmental concerns 2:22 - Climate change and the role of government in solving big issues 4:16 - Jamie's background in horse racing and initial experiences with betting 7:10 - Early internet betting and its evolution at William Hill 8:28 - The challenges of manual betting systems and early online betting 10:05 - The impact of regulatory changes on sports betting innovation 12:36 - The importance of knowing every aspect of your business operations 14:43 - Jamie's perspective on technology and customer interaction in betting 18:00 - Discussing the stagnation in the betting industry due to regulatory pressures 20:36 - Potential future changes and innovations in the betting industry 23:18 - The challenges and potential of horse racing in modern betting 27:00 - The importance of making betting more accessible and enjoyable 31:10 - Comparing horse racing to Formula One in terms of theater and excitement 34:34 - The difficulty of selling horse racing due to high costs and outdated practices 37:20 - Potential strategies for revitalizing horse racing and attracting a younger audience ⚡️ Follow BoB on Twitter/X ⚡️ Follow Jason on Twitter/X ⚡️ Apply to be a guest here This episode is presented by Optimove, the #1 CRM Marketing solution for the iGaming industry. Hosted on Acast. See acast.com/privacy for more information.

On this episode of the Business of Betting Podcast, Jason is joined by Sam Sadi from LiveScore Group. Hear them discuss: 1:52 - Sam's life after leaving Turkey, and then returning to start a sportsbook in 1998 2:36 - Understanding inflation in Turkey and historical economic comparisons 3:53 - The history of how the LiveScore Group came together 8:26 - How LiveScore Group is differentiate itself from other UK sportsbooks 10:11 - Developing an in-house sportsbook platform, and current efforts to migrate to it 11:35 - Sam's definition of being a world-class sportsbook product 20:29 - How Sam think about buying versus building core pieces of the technology stack 26:02 - Sam's take on the state of sports betting in 2024 28:18 - How Sam views unregulated markets 31:08 - Insights on the role of exchanges in the future of sports betting 35:45 - Regulation, the push for transparency, and consumer empowerment 42:39 - What Sam wants to be when he grows up ⚡️ Follow BoB on Twitter/X ⚡️ Follow Jason on Twitter/X ⚡️ Apply to be a guest here This episode is presented by Optimove, the #1 CRM Marketing solution for the iGaming industry. Hosted on Acast. See acast.com/privacy for more information.

On this episode of the Business of Betting Podcast, Jason is joined by Joe "Tall" Bunevith from GLI. Hear them discuss: 01:25 - What GLI (Gaming Laboratories International) does and their global reach. 02:31 - The presidential debate and the relevance of political debates in modern media. 03:29 - Joe's take on the impact of political debates and the change in political dynamics over the years. 10:11 - Poker, Joe's career shift, and his experience in the poker industry. 13:16 - Joe's journey from Massachusetts to Southern California and launching a poker training company. 17:41 - Insight into professional poker life, the importance of emotional control, and the rise of poker solvers. 22:49 - Joe’s role at GLI and the regulatory process for sports betting applications. 25:36 - The GLI 33 certification process and discusses regulatory challenges. 31:38 - The difficulties startups face in the current regulatory environment and the impact on innovation. 34:31 - Joe’s perspective on the lack of new entrants in the sports betting industry and the role of big players. ⚡️ Follow BoB on Twitter/X ⚡️ Follow Jason on Twitter/X ⚡️ Apply to be a guest here This episode is presented by Optimove, the #1 CRM Marketing solution for the iGaming industry. Hosted on Acast. See acast.com/privacy for more information.

On this episode of the Business of Betting Podcast, Jason is joined by Jake Williams. Hear them discuss: 02:00 -Jake’s experience in fatherhood and raising daughters as Jason shares his family dynamics. 04:15 - Jason's focus on health, exercise, and therapy; benefits of a healthy lifestyle. 11:15 - Jason’s reasons for not drinking alcohol and its positive impact on his life. 14:10 - Jake's thoughts on drinking culture and its role in social and professional settings. 16:55 - The current state of the sports betting industry and significant events. 20:55 - Analysis of fluctuating GGR numbers and the impact of VIP players. 23:10 - The regulatory environments and their impact on businesses. 26:45 - Moral implications of operating in unregulated markets. 30:50 - Jason's frustrations with the regulatory landscape and compliance challenges. 32:36 - Summer plans and work-life balance with taking time off to enjoy family vacations and relaxation. ⚡️ Follow BoB on Twitter/X ⚡️ Follow Jason on Twitter/X ⚡️ Apply to be a guest here This episode is presented by Optimove, the #1 CRM Marketing solution for the iGaming industry. Hosted on Acast. See acast.com/privacy for more information.

On this episode of the Business of Betting Podcast, Jason is joined by Scott Sadin from US Integrity. Hear them discuss: 01:00 - The recent conviction of former President Donald Trump, and how that will affect his current candidacy 05:27 - What it means to have 'integrity' in professional and collegiate sports, and how US Integrity is ensuring it 08:37 - How insider information can be used for nefarious purposes 10:32 - The role that sports properties play in ensuring integrity of their events and stakeholders 13:32 - How US Integrity responds to alerts of anomalies or irregularities 17:37 - Public perception of betting-related scandals, the role that media plays in it, and conflating 'outrage' with 'surprise' 23:55 - Scott's perspective and experience as a "picks and shovels" business within the regulated betting industry 25:54 - The consolidation of B2B companies within the industry, including US Integrity's recent merger with Odds On Compliance 27:15 - Additional verticals that US Integrity is considering expanding its business into 30:48 - The business risk associated with being a B2B provider during a time of consolidation and declining customers 32:27 - How Scott is feeling as an impending first-time parent 36:50 - What Scott wants to be when he grows up ⚡️ Follow BoB on Twitter/X ⚡️ Follow Jason on Twitter/X ⚡️ Apply to be a guest here This episode is presented by Optimove, the #1 CRM Marketing solution for the iGaming industry. Hosted on Acast. See acast.com/privacy for more information.

On this episode of the Business of Betting Podcast, Jason is joined by Adam Bjorn from Plannatech. Hear them discuss: 01:11 - Adam's recent travels throughout the US 03:37 - Adam's past experience in the offshore betting industry, and how it's similar/different to regulated markets 06:30 - The difficulty for regulators and prosecutors to enforce action against offshore operators 11:15 - What made Adam want to push for moving the unregulated to the regulated 14:03 - The jurisdictions that Adam sees as having the most favorable operating models 17:16 - Whether Adam sees himself as a professional bettor first or sportsbook operator first 19:16 - The relationship between Plannatech and Prime Sports 20:19 - What changes and innovations Adam is trying to bring to the industry 23:29 - Adam's take on the role that exchanges play, and what the future of them looks like 28:14 - Whether the low margin model can work in the regulated US market 30:33 - What Adam wants to be when he grows up ⚡️ Follow BoB on Twitter/X ⚡️ Follow Jason on Twitter/X ⚡️ Apply to be a guest here This episode is presented by Optimove, the #1 CRM Marketing solution for the iGaming industry. Hosted on Acast. See acast.com/privacy for more information.

On this episode of the Business of Betting Podcast, Jason is joined by Joe Asher from IGT. Hear them discuss: 01:35 - The background of IGT, Joe's role at the company, and where sports betting fits within the IGT business 07:12 - Nevada's head start with legal mobile betting, and how its model is different from other states 10:45 - The dynamic between brick-and-mortar and online operators, and the threat of cannibalization 14:36 - The state of horse racing, and whether track owners should benefit from legislative protections 18:20 - The role of government subsidies in regulated gaming, and in private industry more broadly 20:11 - Morality and ethics for operators of real-money gaming products 25:14 - Joe's appointment by President Biden to Chair of the Wilson Center 31:00 - Remaining non-partisan when debating policy matters 34:10 - What Joe wants to be when he grows up ⚡️ Follow BoB on Twitter/X ⚡️ Follow Jason on Twitter/X ⚡️ Apply to be a guest here This episode is presented by Optimove, the #1 CRM Marketing solution for the iGaming industry. Hosted on Acast. See acast.com/privacy for more information.

On this episode of the Business of Betting Podcast, Jason is joined by Joe Dunnigan from ALT Sports Data. Hear them discuss: 01:22 - The genesis of ALT Sports Data, and the problem they set out to solve in the market 05:25 - Why alternative sports don't historically have a culture of betting despite their popularity 07:21 - The target customer persona for betting on alternative sports 09:12 - How alternative sports are segmented, and which are the most popular ones 13:15 - Why ALT Sports Data is securing official data rights instead of aggregating data themselves 16:25 - Why they are building an owned B2C media platform in addition to provisioning odds on a B2B basis 17:29 - Funding background and team composition of ALT Sports Data 19:36 - The future of the relationship between data rights holders and sportsbook operators, and the sustainability of the existing model 23:47 - The appeal of live sports content with younger generations and demographics 26:07 - Being an entrepreneur in the later career stage, and the benefits that brings 29:15 - Focusing on a niche versus being everything to everybody 31:08 - What Joe wants to be when he grows up ⚡️ Follow BoB on Twitter/X ⚡️ Follow Jason on Twitter/X ⚡️ Apply to be a guest here This episode is presented by Optimove, the #1 CRM Marketing solution for the iGaming industry. Hosted on Acast. See acast.com/privacy for more information.

On this episode of the Business of Betting Podcast, Jason is joined by Matthew Trenhaile. In a bit of a twist on the standard format, the guest is the one asking the questions to our host! Hear them discuss: 02:14 - The Smarkets origin story, and why Jason thought an exchange was needed 08:32 - How Smarkets almost became a social betting platform, and the role that social features play in the exchange experience 13:03 - The Betafir API, developer ecosystems, and why Smarkets currently operates as a "closed garden" platform 21:44 - The backstory of how Smarkets came to be its own market maker, and the challenges that came with that 29:22 - Whether the value proposition of exchanges will ever become broadly appealing to recreational bettors 37:31 - The allure of pivoting to B2B for exchanges and syndicates 47:18 - The challenges of offering political betting markets 52:23 - Trading on Betfair in the early days 60:58 - What Matthew wants to be when he grows up ⚡️ Follow BoB on Twitter/X ⚡️ Follow Jason on Twitter/X ⚡️ Apply to be a guest here This episode is presented by Optimove, the #1 CRM Marketing solution for the iGaming industry. Hosted on Acast. See acast.com/privacy for more information.

On this episode of the Business of Betting Podcast, Jason is joined by Dillon Borgida from Betonu. Hear them discuss: 01:42 - NCAA basketball talk 03:20 - Breakdown of sportsbook VIP programs and how they work 08:26 - The role of VIP hosts 10:35 - Why Smarkets doesn't have a VIP program (so far) 15:00 - Why VIP players aren't necessarily price sensitive 16:04 - The different tiers of VIPs, and what perks each tier can expect 20:23 - The role of credit and offshore sportsbooks with VIP players 23:28 - VIPs, responsible gambling, and affordability checks 30:10 - What the next 10 years look like for VIP players in the regulated US market 33:29 - What Dillon wants to be when he grows up ⚡️ Follow BoB on Twitter/X ⚡️ Follow Jason on Twitter/X ⚡️ Apply to be a guest here This episode is presented by Optimove, the #1 CRM Marketing solution for the iGaming industry. Hosted on Acast. See acast.com/privacy for more information.

On this episode of the Business of Betting Podcast, Jason is joined by Greg Kajewski from BettorEdge. Hear them discuss: 01:00 - March Madness check-in 02:30 - Jason's collegiate wrestling career 05:38 - Introduction to BettorEdge 09:18 - Mechanics of transactions on BettorEdge, and how they are structured to ensure compliance 14:08 - BettorEdge's peer-to-peer betting model 16:32 - The different ways that BettorEdge monetizes its platform 20:21 - Attracting liquidity to the exchange 23:45 - Greg's opinion of Smarkets' strategy in the US market 25:34 - Marketing a betting product in a loud and crowded landscape 26:52 - BettorEdge funding and company backgrounder 28:49 - What Greg wants to be when he grows up ⚡️ Follow BoB on Twitter/X ⚡️ Follow Jason on Twitter/X ⚡️ Apply to be a guest here This episode is presented by Optimove, the #1 CRM Marketing solution for the iGaming industry. Hosted on Acast. See acast.com/privacy for more information.

On this episode of the Business of Betting Podcast, Jason is joined by Chris Grove from Acies Investments Hear them discuss: 01:43 - How Chris became so good at doing PR 03:31 - What Chris sees as his "north star" for his work in the betting and gaming industry 09:29 - Chris' thesis on why the future is "not so much gamifying sports betting as building games that are powered by sports outcomes" 15:33 - Where Chris sees opportunity for startups and challenger brands in a duopolistic US operator market 21:00 - The role and relative importance of price as a differentiator for sports betting operators 26:18 - The significance of exchanges, where they sit within the landscape, and why they're not bigger 35:01 - A debate on whether online sportsbooks are 'technology companies' or 'gambling companies' 43:51 - What Chris wants to be when he grows up ⚡️ Follow BoB on Twitter/X ⚡️ Follow Jason on Twitter/X ⚡️ Apply to be a guest here This episode is presented by Optimove, the #1 CRM Marketing solution for the iGaming industry. Hosted on Acast. See acast.com/privacy for more information.

On this episode of the Business of Betting Podcast, Jason is joined by James McLoughlin from Stirling Mac. Hear them discuss: 01:53 - Are US sportsbook product companies or marketing companies? 05:44 - The importance of price as part of the betting product experience 09:30 - Lean marketing tactics for operators without billion dollar marketing budgets 12:00 - How to successfully market betting apps using app store optimization 15:17 - Acquiring users and customers organically 20:27 - James' experience working at Betfair, and why exchanges are on the retreat in sports betting 23:05 - The popularity of political betting markets 24:51 - Examining the current prediction markets for the 2024 US presidential election 29:00 - Critiquing Smarkets' marketing strategy 30:31 - What James wants to be when he grows up ⚡️ Follow BoB on Twitter/X ⚡️ Follow Jason on Twitter/X ⚡️ Apply to be a guest here This episode is presented by Optimove, the #1 CRM Marketing solution for the iGaming industry. Hosted on Acast. See acast.com/privacy for more information.

On this episode of the Business of Betting Podcast, Jason is joined by Antonino De Rosa. Hear them discuss: 01:50 - Magic the Gathering, Dungeons & Dragons, and chess 06:06 - How Antonino found his way to the Pinnacle trading floor 07:44 - Why the low vig sportsbook model isn't more popular 12:09 - The reason that sportsbooks screwed up the 2020 US presidential election markets 15:10 - Antonino's thoughts on exchanges, and why he doesn't use them 17:57 - Running a basketball betting syndicate, and how it operates 21:25 - The difference between PPH and an agent system 23:54 - Building a model to create an edge 25:00 - Betting at scale using a network of runners 30:48 - How Antonino would like to see the betting industry evolve 32:46 - Stake factoring versus guaranteed minimum bet limits ⚡️ Follow BoB on Twitter/X ⚡️ Follow Jason on Twitter/X ⚡️ Apply to be a guest here This episode is presented by Optimove, the #1 CRM Marketing solution for the iGaming industry. Hosted on Acast. See acast.com/privacy for more information.