FanDuel Founders Launch Crypto Betting Site BetHog

Watch FanDuel Founders Launch Crypto Betting Site BetHog - SportsGrid on Dailymotion

Transcript

00:00I know you're working on a story with FanDuel's co-founders launching something called BetHog.

00:08Can you explain a little bit?

00:09We have about two minutes.

00:10Can you explain a little bit about what BetHog might be?

00:12Yeah, sure.

00:14BetHog is the latest sort of legal sports betting alternative, the latest alternative

00:20to a legal sports book that was built by the founders of FanDuel, which is the biggest

00:25sports book in America right now.

00:27You've seen these websites pop up where this one is only taking cryptocurrency, interestingly

00:33enough.

00:34You might ask, why would they not want real money to be bet on the platform?

00:38And the reason, quite frankly, is because if you use real money to bet on a platform,

00:41a lot of times you meet a state's definition of gambling.

00:46And these are platforms that do not want to be regulated as gambling so they can avoid

00:51the taxes, fees, regulatory scrutiny associated with legal sports betting.

00:56That's the reason that makes it such a hard business.

00:58But we've seen these people with a lot of weight behind their name, these folks who

01:01founded FanDuel now starting this company.

01:04We've got a lot of other companies that popped up in space, whether it's using fantasy sports,

01:08whether it's using sweepstakes models, kind of these alternatives to legal sports books

01:12that have popped up trying to capitalize on this boom of sports betting, which has followed

01:18ever since PASPA was repealed.

01:20So it's going to be an interesting kind of thing to watch here, whether states start

01:23to regulate this stuff more, go after it.

01:25Pretty significant that you have people who founded FanDuel starting this company and

01:29a lot of investors behind them as well.

01:32What they call a legitimate product.

01:34We'll see if the industry cracks down on them or if states begin to take issue with them

01:39as well. So another interesting thing for next year.