Business of Betting Podcast

On this episode of the Business of Betting Podcast, Jeff Edelstein is joined by legendary oddsmaker and gambling industry icon Roxy Roxborough to reflect on his career, the evolution of sports betting, and where the industry is headed next.   Hear them discuss: 01:00 - Roxy’s introduction and early memories of gambling culture 03:00 - How racetracks and pool halls shaped the early gambling ecosystem 07:30 - Building Las Vegas Sports Consultants and making odds for the world 12:30 - The rise of technology, computers, and early data-driven betting models 16:00 - Post-PASPA sports betting: what Roxy got right, what he got wrong 20:00 - Why FanDuel and DraftKings dominated—and legacy operators got left behind 24:00 - Prediction markets, taxation surprises, and what bettors don’t see coming 28:00 - Match fixing, integrity concerns, and whether gambling problems are truly new 31:00 - The gambler’s mindset and how it impacts real-life decision making 34:00 - Fashion, legacy, and lessons learned from a lifetime in betting 37:00 - Final thoughts on regulation, education, and the future of the industry   ⚡️ Follow BoB on Twitter/X ⚡️ Watch BoB on Youtube ⚡️ Apply to be a guest here --- This podcast is presented by Optimove, the #1 CRM Marketing solution for the iGaming industry. Since 2012, Optimove has served iGaming Operators from startups to industry leaders. Today, 4 out of the Top 5 US Operators Personalize Player Experiences with Optimove. iGaming operators know their growth journey begins and continues with Optimove, the #1 CRM Marketing solution for the iGaming industry. Get your first month free: https://optimove.com/businessofbetting

On this episode of the Business of Betting Podcast, Jeff Edelstein is joined by Bill Miller, CEO of the American Gaming Association, for a deep dive into prediction markets, federal vs. state authority, industry fragmentation, and the future of U.S. gambling policy. Hear them discuss: 01:00 – Bill’s journey to the AGA, his background at the Business Roundtable and U.S. Chamber of Commerce, and how he entered the gaming industry on the same day the Wire Act was reinterpreted 02:00 – The rapid rise of prediction markets, how CFTC involvement blindsided the industry, and why AGA sees loophole-based models as regulatory threats similar to skill games and sweepstakes 04:30 – The internal tensions leading to DraftKings, FanDuel, and Fanatics leaving the AGA, and why licensed operators joining prediction markets created an irreconcilable conflict with AGA’s mission 07:00 – Why offering sports contracts not elections or Oscars is what triggered the regulatory showdown, and how state regulators view the integrity of approved betting menus 08:30 – Industry fragmentation: the rise of new trade groups (Sports Betting Alliance & Coalition for Prediction Markets), how CEOs face shareholder pressure, and whether reunification is possible 11:00 – The legal battle ahead: federalism, states’ rights, tribal sovereignty, and why the AGA expects the dispute to reach the Supreme Court 14:00 – How prediction markets could undermine tribal exclusivity (e.g., Florida), state budgets, and federally recognized regulatory authority 18:00 – The “One Big Beautiful Bill,” why the AGA supported it, and how the late-added 90% loss deduction rule blindsided the industry—and the bipartisan effort underway to reverse it 24:00 – Bill’s experience representing Fortune 500 CEOs and how those relationships helped modernize cashless payments and banking integrations for casinos 29:00 – Texas & California outlooks: entrenched political roadblocks, tribal dynamics, and whether prediction markets could actually unify tribal interests 33:00 – G2E’s growth, what exhibitors really want, and how AGA navigates pre-show vs. on-floor engagement in the largest gaming conference in the world 37:00 – Bill on being a gambler, his favorite games (craps, blackjack, roulette), and why 2026 will be one of the most consequential years in gaming policy   ⚡️ Follow BoB on Twitter/X ⚡️ Watch BoB on Youtube ⚡️ Apply to be a guest here --- This podcast is presented by Optimove, the #1 CRM Marketing solution for the iGaming industry. Since 2012, Optimove has served iGaming Operators from startups to industry leaders. Today, 4 out of the Top 5 US Operators Personalize Player Experiences with Optimove. iGaming operators know their growth journey begins and continues with Optimove, the #1 CRM Marketing solution for the iGaming industry. Get your first month free: https://optimove.com/businessofbetting

On this episode of the Business of Betting Podcast, Jeff Edelstein is joined by Shawn Fluharty, West Virginia Delegate, President of NCLGS, and Head of Government Affairs at Play’n GO to break down the rapidly shifting U.S. gambling landscape, from prediction markets to sweepstakes crackdowns to the political realities shaping iCasino expansion.   Hear them discuss: 01:00 – Shawn’s path from journalism student to West Virginia legislator and the surprising way he ended up in gaming policy 03:00 – How West Virginia became an early adopter of sports betting and iCasino, and why integrity fees failed before they even started 05:00 – Why gaming policy remains bipartisan and how lawmakers think about consumer protection, revenue, and political optics 07:00 – The sweepstakes industry crackdown: why states view it as revenue leakage and why the model was always doomed 09:00 – Prediction markets, CFTC authority, and why Shawn believes the issue is heading toward the Supreme Court 12:00 – The danger of loophole-based gambling models and how regulators evaluate “if it walks like a duck…” arguments 14:00 – iCasino progress: which states are closest to legalizing next, and why education gaps stall legislative momentum 17:00 – The post-PASPA state-federal balance: who actually controls the future of U.S. gambling policy? 19:00 – Responsible gambling oversight, the shrinking gray market, and parallels between sweepstakes and historical horse racing 21:00 – The future of prediction markets, what happens if they scale, and whether they can coexist with casino-style outcomes   ⚡️ Follow BoB on Twitter/X ⚡️ Watch BoB on Youtube ⚡️ Apply to be a guest here --- This podcast is presented by Optimove, the #1 CRM Marketing solution for the iGaming industry. Since 2012, Optimove has served iGaming Operators from startups to industry leaders. Today, 4 out of the Top 5 US Operators Personalize Player Experiences with Optimove. iGaming operators know their growth journey begins and continues with Optimove, the #1 CRM Marketing solution for the iGaming industry. Get your first month free: https://optimove.com/businessofbetting

On this episode of the Business of Betting Podcast, Jeff Edelstein is joined by Adam Kaplan, investor, operator, and long-time industry strategist working at the intersection of sports betting, DFS, prediction markets, and emerging gaming products. Hear them discuss: 01:00 – How the pace of innovation since PASPA has completely reshaped the gaming landscape 02:00 – DraftKings & FanDuel’s decision to leave the AGA, what it signals, and why prediction markets are forcing operators to redraw alliances 03:15 – How big operators approach new products: build, buy, undermine… then build anyway and why speed now separates winners from laggards 04:50 – Who becomes dominant in prediction markets: PolyMarket, Kalshi, DraftKings, FanDuel, Robinhood and the power of cross-sell advantages 06:45 – Why everyone is entering prediction markets despite lower CAC/LTV economics and why public companies can’t afford to sit out 08:45 – Why land-based casino operators are staying away, and which companies are best positioned to launch direct-to-consumer prediction products 10:30 – Testing the boundaries: whether prediction markets will push into casino-style propositions and how regulators might respond 12:00 – The big question: Do prediction markets survive the courts? Will the fight reach the Supreme Court? What operators must hedge for. 13:30 – How investor pressure, stock performance, and regulatory risk are forcing operators to move quickly  even without clarity on legality 16:00 – What PrizePicks could mean for U.S. market share, innovation cycles, and the next phase of digital gaming competition 18:50 – Emerging innovations bubbling under the surface: new gaming categories, regulatory interpretations, and tech-driven product shifts 20:15 – What the next 5–10 years might look like: consolidation vs. vertical specialization, crypto-integrated markets, and where Robinhood could disrupt the most   ⚡️ Follow BoB on Twitter/X ⚡️ Watch BoB on Youtube ⚡️ Apply to be a guest here --- This podcast is presented by Optimove, the #1 CRM Marketing solution for the iGaming industry. Since 2012, Optimove has served iGaming Operators from startups to industry leaders. Today, 4 out of the Top 5 US Operators Personalize Player Experiences with Optimove. iGaming operators know their growth journey begins and continues with Optimove, the #1 CRM Marketing solution for the iGaming industry. Get your first month free: https://optimove.com/businessofbetting

On this episode of the Business of Betting Podcast, Jeff Edelstein is joined by Pierre Lindh, Co-Founder and Managing Director of Next.io, for a wide-ranging conversation recorded live at G2E Las Vegas. Hear them discuss: 00:00 – How Pierre began running a 150-player underground poker club at age 15 03:50 – The 2006 police raid that made national headlines and launched his gaming career 05:45 – Swedish poker culture, card-playing heritage, and why Texas Hold’em spread so quickly 09:00 – How live poker culture changed from social gatherings to headphones and sunglasses 12:00 – Building Next.io: 800+ global events and designing conferences for every personality type 15:00 – Why Malta became the world’s online-gambling capital 19:00 – Why Pierre’s identity is inseparable from Next.io and how he thinks about entrepreneurship 27:00 – The future of gambling: prediction markets, sweeps, skill games, and U.S. creativity 28:40 – The shrinking global gray market: why operators must choose regulated or unregulated paths 30:00 – Why the U.S. is brutally competitive and only a few operators can thrive 32:00 – Cultural differences in loyalty, trust, and brand adoption in gambling markets 36:40 – Closing thoughts from the G2E show floor ⚡️ Follow BoB on Twitter/X ⚡️ Watch BoB on Youtube ⚡️ Apply to be a guest here --- This podcast is presented by Optimove, the #1 CRM Marketing solution for the iGaming industry. Since 2012, Optimove has served iGaming Operators from startups to industry leaders. Today, 4 out of the Top 5 US Operators Personalize Player Experiences with Optimove. iGaming operators know their growth journey begins and continues with Optimove, the #1 CRM Marketing solution for the iGaming industry. Get your first month free: https://optimove.com/businessofbetting