Business of Betting Podcast

On Episode 304 of the Business of Betting podcast, Jeff Edelstein is joined by Adam Bjorn, CEO of Plannatech Group, for a wide-ranging discussion on his three decades in sports betting, Prime, prediction markets, U.S. regulation, and the future of the industry.

 

Hear them discuss:

How Adam got his start in sports betting in Australia and the cultural influence of the Melbourne Cup.

Why America's growing gambling and gaming culture could create risks as sports betting, prediction markets, and iGaming expand.

The challenges of operating across 50 different U.S. regulatory environments, including taxes, market-access costs, and the federal excise tax.

Why Adam decided to acquire Prime and the opportunity he sees in competing for customers in the unregulated market.

How prediction markets are attracting professional, syndicate, and recreational bettors away from traditional sportsbooks.

Why Adam believes prediction markets are not a new concept and how the U.S. market's liquidity and large consumer base have accelerated their growth.

How the World Cup became a major coming-out party for prediction markets, with enormous trading volumes on platforms like Kalshi and Polymarket.

Why Prime is focused on grassroots growth, customer service, and carving out a niche rather than competing with the industry's biggest marketing spenders.

Adam's experience with U.S. regulators and why he believes changes to taxation could make the regulated sports betting market more sustainable.

The evolution of sports betting over Adam's 30-year career, from handwritten ledgers and phone betting to live betting, massive data availability, and AI-powered betting insights.

 

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On Episode 303 of the Business of Betting podcast, Jeff Edelstein is joined by Jonathan Cohen, Policy Lead at the American Institute for Boys and Men and author of Losing Big, for a wide-ranging discussion on sports betting regulation, the challenges facing young men, prediction markets, gambling education, dopamine-driven technology, and the future of responsible gambling policy.

 

Hear them discuss:

Why Jonathan believes sports betting should remain legal, but argues its rapid post-PASPA rollout lacked the guardrails needed to protect younger and more vulnerable consumers.

How the challenges facing boys and young men from economic uncertainty to shifting ideas of masculinity can make gambling, prediction markets, and other high-risk activities especially appealing.

Why gambling should be viewed alongside crypto, day trading, collectibles, online casinos, social media, and other dopamine-driven products competing for people's attention.

Whether sportsbooks, prediction markets, and regulators should introduce more friction through default betting limits, waiting periods, and restrictions on high-frequency betting products like microbets.

Why Jonathan believes prediction markets may pose even greater consumer risks than traditional sportsbooks by marketing themselves as opportunities to make money.

How advertising shapes public perception of gambling, investing, and financial success, and why younger bettors may be especially vulnerable to those messages.

The similarities between gambling, alcohol, pornography, social media, and other modern technologies that exploit the brain's dopamine reward system.

Jonathan's outlook on the future of gambling regulation, why today's debates may look very different five years from now, and what reforms he believes are both realistic and achievable.

Jonathan's unexpected work as a Bruce Springsteen scholar, what he learned from studying Springsteen's fanbase, and why great art means something different to every listener.

 

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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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