Professional Gambler (AP), Speaker, Podcaster, published author: The 21st Century Card Counter/Tales From the Felt- Free time: My smokin hot wife/dogs/adventure
DraftKings co-founder says every sportsbook in America is building a prediction market right now and Kalshi is about to get decimated by competition
"There's not a sportsbook in the US who's not building an exchange right now. DraftKings, FanDuel, Fanatics, MGM. DraftKings just acquired a company called Railbird, and it's basically the same exact thing as Kalshi. It'll all just going to be in house stuff built by real consumer product teams that have real instinct around the customer and know how to actually make a normal person happy."
"That's the whole reason I don't think Kalshi has anything durable here. You have a couple months where maybe you're a first mover. But once the competition is there it's going to decimate them."
Legalized sports betting destroys the lives of young men. It will turn out to be one of the most harmful public policy decisions ever.
I saw a video of a young man with a massive following (his name is Alex Eubank) talking about how a casino offered him $80K/month for a brand deal.
He explains that he turned it down because in order for the casino to make money, his audience has to lose money. And whatever they pay him, his audience will lose much more.
He talks about how these casinos target influencers with young, impressionable audiences to take advantage of them, and that no amount of money would convince him to take the deal.
Mad respect to this young man.
The NFL, NBA, and MLB should take notes.
Going all in on promoting sports betting to their fans is a disgrace. It’s a morally bankrupt move to drive profits by taking money from young, impressionable, often struggling, men.
They should be ashamed.
Thank you @danawhite for keeping up the pressure on @POTUS to restore the 100% tax deduction for gambling losses. I've led the fight here in Congress to get this fixed with bipartisan support. We cannot postpone this issue any longer.
@DonGambinoTV @MGMResortsIntl@JeffreyBenson12@CircaLasVegas Making sure you know, they cannot legally ban you from all properties. They have to ban you property by property and give notice at each one after you enter. It's not legal to be banned from some place you've never stepped foot in. So, go take more money from them. 😎
They've taken everything that was pure and honorable about sport and debased it in the pursuit of unquenchable greed. Keep in mind this is the same league that this very season had the DOJ indict a player and head coach for involvement in illegal gambling.
@Flupnolide@DeRosa_Antonino The truth is the recreational customer has NO CHANCE on any gambling venture. None. But they understand and accept that in their own way.
Operators spinning that any other way are, at best, lying to themselves. At worst, being slimy with the public trust.
Wrote about how prediction markets depend on user losses, and why Kalshi’s claim that their incentives are fundamentally different from casinos is a lie
For the love of all that is holy.... STOP saying the dealer has an effect on the cards. They don't do anything and their advice is wrong most of the time. They don't know basic strategy at all with few exceptions.
Saw the 10+ Million Megabucks hit at Mandalay and that the people did not tip anything from everyone's favorite local Vegas account going Viral.
What would you tip on 10+ Mill? I would only give a few hundred. I see myself as quite generous I think, when I hit handpays the slot attendant always gets $100 and whatever the smalls are. But this is not Blackjack where the dealer (usually giving advice) and other players are having an effect on the cards (I won a 15k BJ progressive in Jan and the 2 other players and dealer I gave 1k each) Its a damn slot machine, The attendants are random from who is working the area or closest at the time. Am I supposed to pay off their house because they were the person closest to me at the time when I got lucky? Its a no from me. How much cash do you get there and then for that kind of win? Biggest single slot win I had is 38k and I gave 300. New tax rules on Slot wins for Americans play a part in your decision? So many questions
Listen up, kids.
That voice in your head telling you that 4 leg parlay of -500s is likely to win because each individual leg is likely to win?
That's 300,000 years of human brain optimized for hunting and survival, not for abstract probabilistic thinking. It's lying to you.
This lawmaker’s “moral” stance is, simply:
“It is wrong for people to be good enough at something that they make money from it. People should not profit from this legal and taxed activity. They should only lose.”