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SportsTranscript
00:00 [MUSIC PLAYING]
00:03 OK, so one of the more fascinating,
00:06 I think, companies that has appeared in the sports betting
00:08 universe are these companies that basically
00:12 will allow you to buy and sell bets that have already
00:15 been made.
00:16 There may be people, Sam, that are not familiar with that.
00:19 Essentially, that means you place a bet.
00:21 If you like the way that it's going
00:22 and it appears that you got better odds than what
00:24 the odds are now, you could put it on a website.
00:26 Somebody may buy it.
00:28 And now Sportrade is launching in Colorado.
00:31 And I know that that's kind of the focus
00:33 and somewhat familiar with that as well.
00:35 PropSwap was another company, if I'm not mistaken,
00:37 Sam, that does the same thing.
00:39 Talk to me about how this is going to work,
00:41 because we've seen some restrictions being placed
00:44 on companies that just aren't traditional sports betting
00:46 websites.
00:48 Yeah, it's always cool to talk about innovation.
00:50 And I think that really just sort of tells us
00:53 where we're at in the industry right now, that we're talking
00:55 about apps like this, which are a little different
00:58 than traditional sports books.
00:59 But as you alluded to, Sportrade is this sort
01:02 of sports betting stock market.
01:05 It brands itself as--
01:06 which is live in New Jersey.
01:08 Essentially, they allow customers
01:11 to kind of say what they're willing to pay.
01:12 And if someone can beat that, then they
01:15 come in and take that bid.
01:16 But basically, in Colorado, they are not
01:20 able to yet launch that exchange because of some rules.
01:24 The commission wants to become more comfortable with.
01:26 So they're just going to be kind of launching as a flat-out
01:29 sports book to start.
01:30 Now, a lot of their activity in New Jersey
01:32 does just kind of come as a house set line,
01:34 because there's no one there to offer that other price.
01:37 But their whole vision is kind of we want to allow consumers
01:39 to be competitive and beat each other in the market,
01:42 if possible.
01:44 So it's cool to see this catching on in other states.
01:46 But this is going to be one of those small regulatory hurdles
01:49 that we discuss on this show before people can really
01:53 get what they're clamoring for and kind of how
01:55 the sausage gets made before we see the finished product.
01:58 But it'll be cool to have a sports trade in Colorado
02:00 once it's officially through the finish line.
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