I liken sports betting to Wall Street. You can get a little bit of data or a ton of data. Of course, you can be a day trader or you can be Goldman Sachs, making billion-dollar bets. I believe the gamification of all sporting events is a very, very positive development, especially for the fans, in that it will take an industry in an unregulated, un taxed dark space and bring it into the light. Gaming and gambling right now is on games of chance — you’re playing cards, you’re rolling the dice, you’re pulling a slot machine.
Sports betting is very, very different. I don’t believe it will be considered a game of chance. I think it will be a game of skill. You’ll see a three-story, most technologically-advanced, all glass-encased studio, as well, like, sports bar, with screens at your table, built into your table. Screens everywhere that’s streaming data, streaming games that you can bet online in the building. that you can pull your phone out and be able to make those bets as you become mobile.
Someone comes to you in your seat and is asking, “Do you want a soda? Or do you want a hot dog?” My belief is that people will be coming to your seat and saying, “Do you want to bet on the next period? The next half? You want to bet on this game that’s going on at the same time in another city? Who’s taking the shot? Who’s gonna make the shot? Is it going to go into overtime? I bet you $5 that he misses the foul shot.” .
And that all gets done in real time. So you’ll see sports teams now becoming more and more, and leagues becoming more and more like technology, big-data companies. As an entrepreneur, I’ve always been shocked at how long it takes for some of these things to take off, and then, once they hit, how fast and how big they become.
We’re all in this age of deconstruction and innovation, and that you have to stay in front of things, and whenever you do that. You can have institutions feeding it and innovating and investing in the space. We will get higher quality output, and there will be more fun and more engagement for the fans.