Friday: Robin Hood

A financial firm is allowing for sports gambling.

Episode Transcript

Speaker 1 (00:03):
There's this company called robin Hood, and they announced Tuesday
that it was launching markets on the outcomes of professional
and college football games this season. The company said that
it's going to allow customers to trade on the outcomes
of every NFL game and every college game that involves
power for teams independence And they're going to start this
weekend with Iowa State and Kansas State. And Robinhood also

(00:26):
is offering markets on who wins the Heisman Trophy. The
way I understand this is, you know, and not that
I've ever done this because I'm just not that kind
of gamble that much, but you know, put some calls
on the market where you bet on the futures of
stuff like gas and oil and coffee and orange juice
and all that kind of stuff. Well, they can do
this now with football. Well, the NCAA says they are

(00:48):
deeply concerned about the lack of guardrails and on these
early prediction markets that are challenging the betting industry. You know,
it's kind of funny that for years gamblers can't make
a bet legally unless they're in certain cities and now
thirty seven states, but you can always bet on you
know what the market's going to do, and that's basically

(01:09):
what you do when you invest in the stock market,
although they're I guess there's some more strategy to it.
But there's a lot of people that have gambled on
one stalk or another and hit big or lost their
shirt one way or the other. But here's my take.
Talk to the NFL, the Major League Baseball, to the NBA,
and to a lot of colleges out there. You've been

(01:30):
taking their money. Now for a while, you are taking
the fan duel and the draft Kings and all that
because it's unlimited resources and they want to be associated
with your brand and you have made money off them.
And now, oh, you're concerned about stuff. And I would
be concerned too about what the improprieties of this. And

(01:50):
it's going to make everybody have a much higher education
system in place to teach those who are actually playing
the game what they're allowed to do and not do.
And betting on the outcome of even yourself is not
something that you can do going forward in this. If
you want to get into the future's business, if you
want to gamble, you got to stop playing sports. And
I don't know that many want to do that Darien

(02:12):
Starling was one of the Original seventeen. He now writes
for The Sporting News. The Original Seventeen at UTSA, We'll
talk with him next. It's the Andy Everage Show. On
the ticket