Business of Betting Podcast

On Episode 302 of the Business of Betting podcast, Jeff Edelstein is joined by Zack Panos, founder of 4Casters, for a deep dive into the future of prediction markets, peer-to-peer betting, and the evolving sports betting ecosystem. 

Hear them discuss:

Zack's journey from learning poker and risk management as a child to founding 4Casters and building a peer-to-peer betting exchange.

Why prediction markets have gained momentum, how they differ from traditional sportsbooks, and why California and Texas have become key battlegrounds for their growth.

The future of liquidity, market makers, pricing, and why Zack believes betting odds will eventually become a commodity across platforms.

Whether prediction markets are here to stay, the regulatory challenges ahead, and why Zack expects sportsbooks and prediction markets to ultimately converge into a similar user experience.

How betting and prediction markets encourage probabilistic thinking, improve decision-making, and could reshape how people consume news and information.

The growing "gamblification" of society, the impact of AI on entertainment and gambling, and why gambling education should become a much bigger priority.

Why Zack believes the industry's biggest opportunity lies in creating customer-friendly products that emphasize long-term engagement over maximizing player losses.

4Casters' long-term vision, lessons learned from fundraising, and Zack's strategy for building a sustainable betting business designed for the next generation of sports bettors

 

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On Episode 301 of the Business of Betting podcast, the tables are turned as Third Planet CEO Adam Small takes over hosting duties to interview Jeff Edelstein. Together, they reflect on the evolution of the U.S. sports betting industry since PASPA, debate prediction markets, discuss the future of gambling regulation, and explore why the industry's biggest challenges may still lie ahead.

Hear them discuss:

The rise and growing pains of the regulated U.S. sports betting market since PASPA was repealed

Why higher tax rates, betting limits, and shifting regulation have changed the industry's outlook

Looking back at the "gold rush" era of sports betting and whether those opportunities still exist

Why community remains one of sports betting's biggest untapped opportunities, from live events to social experiences

How DFS paved the way for products like PrizePicks, Kalshi, and prediction markets

The ongoing debate over what qualifies as gambling versus financial trading

Whether prediction markets can justify their soaring valuations and challenge established sportsbooks

Why DraftKings, FanDuel, and other incumbents may still be best positioned to dominate if prediction markets expand

The growing concern around gambling's influence on younger audiences and the need for gambling education in schools

Jeff's predictions for where sports betting, prediction markets, and the broader gambling industry are headed over the next decade

 

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On Episode 300 of the Business of Betting podcast, Jeff Edelstein is joined by Barstool Sports founder Dave Portnoy for a candid conversation covering the rise of Barstool, the ESPN Bet partnership, gambling regulation, cancel culture, media, politics, philanthropy, and what the future might hold, including a possible run for public office.

Hear them discuss:

Why the Barstool Sportsbook partnership ultimately failed, what went wrong with ESPN Bet, and how strict regulatory oversight limited Barstool's ability to market authentically.

Dave's approach to building Barstool's culture, creating viral content, and empowering talent behind brands like Pardon My Take, Call Her Daddy, and The Pat McAfee Show.

The origin of the iconic One Bite Pizza Reviews and how a simple office debate turned into one of Barstool's biggest brands.

The story behind The Barstool Fund, raising over $50 million to help hundreds of small businesses survive the COVID-19 shutdowns.

How Dave navigates controversy, media criticism, cancel culture, and where he draws the line between accountability and online outrage.

Dave's views on politics, why he believes more outsiders should enter public service, and whether a future political campaign is truly on the table.

His perspective on antisemitism, social media polarization, and why he has become more outspoken in recent years.

The business lessons behind Barstool's growth, why authenticity beats traditional media, and how Dave evaluates creative talent.

Dave's passion for sports betting, horse racing, investing, and why he still loves wagering despite decades in the industry.

What's next for Dave Portnoy—from Barstool's future to horse racing ambitions, and why he believes his biggest challenge may still be ahead.

 

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On this episode of the Business of Betting podcast, Jeff Edelstein is joined by John Aristotle Phillips, founder of PredictIt and CEO of Aristotle. 

Hear them discuss:

How PredictIt was founded and why prediction markets emerged as an alternative to traditional polling

Why prediction markets could fundamentally change the way people think about risk, probability, and decision-making

The future of sports prediction markets and why forecasting extends far beyond politics and sports

How media companies, businesses, and consumers may use prediction markets as everyday forecasting tools

The regulatory challenges facing prediction markets and why balanced oversight is essential for long-term growth

Whether political prediction markets should be viewed as protected political speech rather than gambling

The extraordinary story behind John's Princeton thesis demonstrating how an atomic bomb could be designed using publicly available information

How John's passion for nuclear nonproliferation led him into politics and the creation of Aristotle, a leading political technology company

The role AI could play in prediction markets and why human judgment will continue to matter

John's vision for a future where prediction markets help guide everything from financial decisions and healthcare to everyday life

 

 

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On this episode of the Business of Betting podcast, Jeff Edelstein sits down with ESPN sports betting reporter David Purdum to discuss the evolution of the betting industry, the rise of prediction markets, AI's impact on journalism, responsible gambling, and the integrity challenges shaping the future of sports wagering.

Hear them discuss:

David Purdum's journey from newspaper journalism to becoming ESPN's leading sports betting reporter

How the sports betting industry has evolved from offshore books to legalization and today's prediction market era

Why AI is becoming an essential tool for journalists and how it improves reporting and research

The future of prediction markets and whether they can coexist with traditional sportsbooks

The rise in betting integrity scandals and why player prop markets deserve closer scrutiny

Responsible gambling, operator accountability, and the challenges of protecting vulnerable bettors

Why gambling addiction is often called the "hidden addiction" and the unique risks it presents

The need for gambling education in schools and whether the legal betting age should be increased

How gambling mechanics are expanding beyond sportsbooks into prediction markets, collectibles, and gamified products

David's approach to balancing a fast-paced reporting career with coaching youth soccer and maintaining perspective

 

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