The Persistent Issue of Illegal Sports Betting Markets
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00:00Okay, so now let's close it out with some sports betting discussion that it feels like
00:08the legal market has been trying to eliminate, which is the illegal market.
00:12And you know, Mike, look, there's so many places to still legally bet on sports, but
00:17I just I just don't see the illegal market, aka the bookies, ever going away.
00:23You know, betting on credit is still something that people are going to want to do.
00:28Just ask Shohei Otani's interpreter.
00:30Credit is credit.
00:31You don't have to put any money up.
00:33It's just asking to eliminate something that seems almost impossible, Mike.
00:37Give us the latest there.
00:39Yes.
00:40So Craig Ice 360 CEO Matt Holt was on with the UNLV AD talking about, you know, kind
00:47of some alert systems that athletes can college athletes can go to if there is some sort of,
00:53you know, concern with betting insider info.
00:56Some sort of scandal going on that they want to give anonymously.
01:00And that's something that Holt obviously wants as the owner and proprietor of this technology.
01:05And it makes perfect sense.
01:06But, you know, the larger situation as it relates to Jonte Porter is, you know, the
01:11illegal betting market is the biggest threat, he said, to sports.
01:14And you have in the Porter situation, somebody that got in over their head through the back
01:19channel gray market, where, again, was able to bet on credit, got himself in trouble and
01:23then was extorted, allegedly as a result.
01:25And so that's something they want to stop, you know, and like you said, how difficult
01:29is that?
01:30It seems extremely difficult.
01:32But again, this is where certainly the legal industry wants to hang its hat on.
01:35The NCAA said we want to eliminate the illegal gambling market to probably, like you said,
01:40is impossible at this point.
01:41But they do want to bring people to the legal market so they can catch, you know, bad actors
01:46in the event that, unfortunately, you know, a scenario like quarters takes place.
01:50Like you said, Tony's interpreter got himself in trouble through the illegal gambling market
01:55through the, you know, alleged illegal bookmaker that he placed the bets with and then ended
02:00up stealing over 17 million from a party to cover these debts.
02:03So, you know, I think this is an example they want to show college athletes is don't get,
02:06you know, in over your head.
02:07Right.
02:08Like Porter did.
02:09His attorney said he had a gambling problem.
02:10He's been cooperating with the authorities.
02:12But, you know, he ruined his whole life.
02:13He ruined his whole NBA career.
02:15Future prospects in the league for what a relatively, you know, probably, so to speak,
02:22monetary gain.
02:23His brother has made hundreds of millions of dollars on the relationship is obviously
02:27to want to implicate his brother in anything here and try to borrow money to pay this off.
02:30But, you know, again, exhibit A for college athletes, pro athletes, do not get yourself
02:34involved in this stuff.
02:36Only bad things can happen.
02:37And, you know, as Holt said, education and the, you know, LVAD education is so imperative
02:43here.
02:44And showing these specific examples now that they have to say, do not do this, you do not
02:48want to end up with the same fate as Jonte Porter and Joey Otani's interpreter.