Business of Betting with Jason Trost
A podcast about the business side of the betting, wagering and investing world. Hosted by Jason Trost, and presented by Optimove.
Episodes
On this episode of the Business of Betting Podcast, Jason is joined by Davis Catlin, Managing Partner at Discerning Capital, an investment firm focused on regulated gambling across sports, media, and technology.
Hear them discuss: 02:23 – How Discerning Capital supports startups that can't raise traditional capital 03:48 – Why sweepstakes businesses may struggle to raise capital going forward 05:29 – The “Big Beautiful Bill” and ...
On this special crossover episode of the Business of Betting podcast and Zero Latency: An Eilers & Krejcik Gaming Podcast, Jason Trost of Smarkets sits down with Brad Allen to explore the state of prediction markets, CFTC licensing, the regulatory battle over sports betting, and the future of exchanges in both the U.S. and U.K.
Hear them discuss: 01:08 – Why “prediction markets” are just rebranded betting exchanges in the U.S...
On this episode of the Business of Betting Podcast, Jason is joined by Tony Trzeciak, angel investor and founder, to talk about betting data, AI, personal resilience, and one of the most powerful personal stories ever shared on the show.
Content Disclaimer:
This episode contains discussions of trauma, addiction, suicide, and recovery. Listener discretion is advised.
Hear them discuss: 01:48 – How Tony’s paralysis and AI inters...
On this episode of the Business of Betting Podcast, Jason returns for another Office Hours session, where he answers listener questions about the betting industry, regulation, funding strategy, and more.
Hear him discuss: 02:00 – What Jason thinks about Illinois' new per-bet tax and FanDuel's surcharge from the perspectives of lawmakers, operators, and consumers 05:40 – Why the SBC America’s Conference was buzzing about predictio...
On this episode of the Business of Betting Podcast, Jason is joined by Daniel Wallach, sports law expert and founder of Wallach Legal.
Hear them discuss: 04:35 - Daniel's leap from traditional law to sports betting and the challenges involved 06:08 - How Daniel became one of the first legal experts writing about sports betting 06:45 - The evolution of legal betting in New Jersey and Daniel’s early contributions 06:54 - Why appell...
On this episode of the Business of Betting podcast, Jason is joined by Tom Waterhouse, Managing Partner at Waterhouse VC and fourth-generation bookmaker. This episode was recorded in-person at the SBC Summit Americas in Fort Lauderdale.
Hear them discuss:
01:06 – Tom’s family legacy and the founding of tomwaterhouse.com 02:13 – Australia’s gambling market and why racing still dominates 03:35 – No in-play sports betting and its i...
On this episode of the Business of Betting Podcast, Jason is joined by Jesse Learmonth, host of the Betting Startups Podcast, who guest-hosts to interview Jason about his company, Smarkets, and its current efforts to raise $50,000,000 from investors.
Hear them discuss:
09:37 - What it means for a company to raise money from investors 13:00 - Why Jason is going back to raise capital again for Smarkets 14:26 - The difference betwee...
On this episode of the Business of Betting podcast, Jason is joined by Katie Bo Lillis, CNN intelligence reporter and author of Death of a Racehorse: An American Story.
Hear them discuss:
01:06 – Katie’s rural upbringing and start at the racetrack 02:28 – From walking hots to bloodstock reporting in Saratoga 03:10 – Thoroughbreds, quarter horses, and racing’s breed confusion 04:21 – How horse racing thrives globally in Ireland an...
We're bringing back one of our all-time most popular episodes for a special re-release!
Originally aired last year, this conversation with Matthew Trenhaile was a fan favorite. Matthew is one of the sharpest minds in the sports betting world, and his insights into exchanges, market making, and the future of the industry are as relevant today as they were then.
Hear them discuss:
02:41 – The Smarkets origin story, and why Jason th...
On this episode of the Business of Betting Podcast, Jason is joined by Thomas McGrath, Chief Revenue Officer at TXODDS.
Hear them discuss:
01:29 - The founding story of TXODDS and its early product evolution
02:57 - Jason’s experience using TXODDS as a customer
04:06 - The role of TXODDS in data origination and live scouting
05:16 - Addressing historical issues with soft pricing and long-tail market coverage
06:10 - How TXODDS app...
On this episode of the Business of Betting Podcast, Jason returns for another Office Hours session, answering listener questions and reflecting on Smarkets’ journey, product-market fit, and the future of U.S. regulation.
Hear him discuss:
03:00 – Lessons from building a global trading platform
04:50 – What Jason would’ve done differently with Smarkets
08:40 – Why sports betting should be separate from casino
10:40 – Ethics of lim...
On this episode of the Business of Betting podcast, Jason is joined by Roger Ehrenberg, founder of Eberg Capital and a seasoned investor with a background in Wall Street and venture capital.
Hear them discuss:
05:43 - From Wall Street to sports: Jason’s trading roots and the power of price in investing
07:06 - Roger’s seed investing strategy: founders, pricing, and the long game in sports
09:58 - Luck, skill, or timing? Unpacking...
On this episode of the Business of Betting podcast, Jason is joined by Alex Kane, CEO and founder of Sportrade.
Hear them discuss:
03:13 - Alex’s balanced take on Trump’s policies, including the Department of Government Efficiency
07:43 - The evolving world of betting exchanges
08:33 - Alex on the potential of a CFTC-regulated betting exchange ecosystem
10:53 - Comparing the U.S. stock market’s competitive venues to betting exchan...
On this episode of the Business of Betting Podcast, Jason is joined by Travis Geiger, the CXO and Co-founder of WagerWire.
Hear them discuss:
04:01 - How WagerWire was founded from a real-life betting moment
05:33 - What WagerWire does and how it creates a secondary market for sports bets
06:32 - The process of selling a bet through WagerWire
07:51 - How WagerWire ensures bet validation and handles settlement
09:10 - How operators...
On this episode of the Business of Betting podcast, Jason is joined by Greg Wolfe, CEO and co-founder of The Wolfline. Greg, an options trader turned sports betting analytics expert and advocate for consumer protection, shares his unique perspective on the industry.
Hear them discuss:
01:32 - How Greg got started in sports betting at just five years old
02:42 - His journey from betting and bookmaking to options trading
04:43 - Why...
On this episode of the Business of Betting podcast, Jason is joined by Manuel Stan, CEO of Catena Media.
Hear them discuss:
01:01 - Manuel’s journey to Las Vegas and what it’s like calling it home
03:07 - An overview of what Catena Media does and its role in the sports betting ecosystem
04:03 - How shifts in the U.S. market are impacting Catena Media’s business
07:21 - How affiliates are evolving and why engagement is becoming mor...
On this episode of the Business of Betting Podcast, Jason is joined by Mark Phillip, CEO and founder of MetaBet and Are You Watching This?!
Hear them discuss:
01:03 - Mark’s take on life in Austin, Texas—Is it worth the hype?
06:30 - The changing landscape of sports media and viewership habits
08:20 - Will younger generations maintain the same level of passion for sports?
09:56 - How sports leagues are adapting to shorter attentio...
On this episode of the Business of Betting Podcast, Jason is joined by Captain Jack Andrews, Co-Founder of Unabated.
Hear them discuss:
02:20 - How Captain Jack's first trip to Las Vegas ignited his passion for gambling
06:10 - His advocacy for fairness in sports betting inspired by personal experiences with limitations
07:40 - Why he believes sports betting offers more edges than card counting
11:20 - Reflections on missed oppor...
On this episode of the Business of Betting Podcast, Jason is joined by Steven Salz, Co-Founder and CEO of Rivalry, a Canadian company focused on serving a new generation of bettors with a mix of eSports, traditional sports, and gaming products.
Hear them discuss:
01:53 - Steven’s view on Canada’s current state, including challenges in healthcare and housing
02:10 - The cost of living in Canada and its impact on citizens
10:49 - W...
On this episode of the Business of Betting Podcast, Jason hosts an office hours session to kick off 2025.
Hear him discuss:
03:40 - DraftKings’ latest attempt to monetize through subscription fees and his perspective on the move
05:30 - Bet365’s impressive revenue growth and its controversial market practices
08:50 - Reflections on the U.S. election results and expectations for Trump’s new administration
14:30 - Jason's New Year’...
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