Freakonomics Radio 388. The Economics of Sports Gambling
Sep 5, 2019
Jason Robbins, CEO of DraftKings, shares insights on the rapid evolution of fantasy sports into a billion-dollar industry. Alongside Victor Matheson, a sports economist, they discuss the implications of recent legalization of sports betting, expected to bring in $300 billion from the black market. They explore the balance of skill versus luck, challenges of maintaining integrity in betting, and the financial impact on young audiences. Finally, they compare strategies in sports betting to the stock market, highlighting the industry's explosive growth and future potential.
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Rotisserie League Origin
- Peter Gethers, an original Rotisserie League member, claims to be the longest-running fantasy sports player.
- He joined because another member couldn't afford the $250 entry fee and split the cost with a partner.
Fantasy Sports Growth
- The Rotisserie League's popularity grew after an appearance on the Today Show, inspiring Brian Gumbel to start a league.
- The rise of online platforms transformed fantasy sports, making it accessible to a wider audience.
Jason Robbins' Early Interest
- Jason Robbins, CEO of DraftKings, loved sports and statistics from a young age.
- He embraced online fantasy sports in the late 90s and early 2000s.