Prediction markets could 100x from here.They are a much better sports betting platform but they are not sports betting platforms.They are global markets about anything in the future.If sportsbooks are valued between 16 and $42 billion and that’s just sports, imagine everything else. ...

Key Topics - Discussion on markets, jobs report, and crypto impact is scheduled [1] - Conversation with @BunchuBets about Billy Bets, their $1 million raise, and AI x sports betting via prediction markets is planned [1] Company & Investment - Billy Bets secured $1 million in funding [1] - Billy Bets focuses on AI x sports betting via prediction markets [1] Event Details - Live show at 10 am ET [1] - Discussion includes sports prediction markets, market report, and daily news [1] - A giveaway is planned [1]

Over $12.5m in volume on the Kalshi Cowboys/Eagles market and the first quarter hasn’t finished yet.The feed constantly scrolling live bets placed is a nice touch for the mobile interface.Feels like a Trojan horse. Ppl already spend massive amounts of money and time on sports betting…live lines via “prediction” markets make this even more accessible.Wouldn’t surprise me to see this sort of thing in eventually integrated in the various streaming apps simply with one button for each team to allow ppl to seaml ...

NFL kickoff and this is a huge opportunity for the nation's sports books in terms of winning new customers and growing the wagering pool. We're at the Bank of America Gaming and Lodging Conference in New York City and with me is DraftKings CEO Jason Robbins. Give me a sense of how big an opportunity it is when we start seeing pro football and college football for that matter kicking off again.Well, this is the biggest time of year for us, as you said, for acquiring customers, engaging our customers, you kno ...

Industry Concern - Sports betting industry faces integrity concerns due to "player prop" wagers [1]

Financial Performance - DraftKings reports an impressive quarter with revenue growth accelerating to 37% and better-than-expected earnings [1] - The company achieved a record adjusted EBITDA quarter, more than double its previous highest [4] - DraftKings sees revenue near the high end of its guidance range [2] - The company's revenue exceeded $300 million for the first time [5] Business Growth & Strategy - DraftKings is experiencing growth and is starting to make real profit [6] - The company has an increase in year-over-year players and spend per player [7] - DraftKings views daily fantasy as clearly legal under California law and will work with regulators [15] - DraftKings is working with congressional members to address gambling tax implications [17] Market Dynamics & Future Outlook - The Eagles are the second most bet-on team, just behind the Lions [8] - Someone placed a $25,000 bet on the Raiders to win the Super Bowl with a $25 million payout [9] - The industry anticipates that most states will eventually legalize sports betting [19][21]

Gambling Tax Implications - The gambling industry faces potential tax issues due to law changes, possibly leading to tax payments even without actual earnings [1][2][3] - There's an effort to rectify the tax law through congressional members, aiming for a more sensible approach to deducting losses [2][3] Sports Betting Legalization & Market Expansion - The sports betting industry sees a large Total Addressable Market (TAM) with increasing legalization outside major states like California, Texas, and Florida [4][5] - The industry anticipates eventual legalization of sports betting in close to 50 states, including major markets like California and Texas [4][5]

Career Highlights & Reflections - Bob Kostas retired from play-by-play announcing after a legendary career with NBC, covering major sports and hosting 12 Olympics [1][2] - Kostas's career choice was influenced by his realization that broadcasting was his path to Yankee Stadium [4] - Michael Jordan's last shot for the Bulls stands out as a career highlight, aiming for broadcasts to be the "first draft of history" [11][12] Sports Industry Trends - Tech giants like Amazon, Apple, and Netflix are entering live sports coverage, changing how people watch and absorb sports [15] - The accessibility of every game and highlight diminishes excitement and introduces transactional aspects like gambling [16][17] - The industry acknowledges the unifying power of sports, where diverse backgrounds come together for a common cause [20] Social & Ethical Considerations - Kostas refused to read gambling promos due to concerns about its insidious aspects and potential harm to families [18][19] - The intersection of politics and sports is inevitable, and those who deny it are unaware of history [22] - The industry recognizes that sports have been a platform for social change, citing Jackie Robinson and Billy Jean King [23]

Market Position & Growth - The company has achieved a 75%-8% share of the sports betting market within 20 months of operation [1] - The company has captured approximately 4% of the iGaming market [1] - The company's success is considered a surprise, given the initial perception of the market as a duopoly [1] Marketing & Value Proposition - The company has spent less than $150 million on marketing [2] - The company differentiates itself by offering a better value proposition to sports fans [2] - The company provides "Fan Cash," a reward system that gives users a percentage of their bets back, redeemable within the company's ecosystem [3] - The company anticipates issuing $1 billion in Fan Cash next year, with a high redemption rate of 99% [4] - The company offers "fair play" policies, such as refunding player prop bets if a player is injured early in a game [5]

Illinois Tax Increase Impact - Illinois legislature raised taxes on sports wagers, introducing a $0.50 transaction fee per bet, effective September 1st [1][2] - DraftKings believes the tax is ill-conceived, as it taxes gross receipts rather than profit, making it difficult to offer bets profitably, especially on smaller amounts [3][9] - The company expects the tax will drive consumers to the illegal market or to bet larger amounts to offset the tax burden [3][7] - DraftKings had no prior warning about the tax increase, despite recent meetings with legislative leaders [4] - The company is passing the tax on to consumers to continue offering the product in Illinois, hoping for reconsideration from lawmakers [3][5] Industry & Market Dynamics - The industry believes education is needed for policymakers to understand that the tax impacts revenue and investment in product development [8][9] - DraftKings acknowledges that states are facing budget crises and are looking at sports betting and iGaming legalization for revenue [10] - The company operates in approximately 27-28 states and anticipates both opportunities and challenges across different regions [13] - DraftKings reports healthy customer behavior and strong growth rates, with customer-level metrics (bet frequency, average bet size, sports engagement) meeting or exceeding expectations [14][15] - Overall business is strong, with no signs of a slowdown, and customer retention and satisfaction are high [14][15][16]