
The Time Michael Jordan Helped a Guy Win $1 Million
ESPN Daily
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The Problem With Contest Insurance Companies
The money comes from the franchises, but it's through insurance companies. What an insurance company will do is they will take the prize amount, $100 in this example,. They'll figure out the chance of making it 1% and then they double that to make sure they're making some money. So if it's a $100 contest that they think has a 1% chance of being completed, they will charge the team $2 every time they run it.
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