The Herd with Colin Cowherd - The Favorites - Sports Betting Scandals

Episode Date: July 9, 2025

Fresh from their respective vacations, Action Network hosts Chad Millman and Simon Hunter return to cover the latest headlines from the world of sports betting. This includes a spate of recent scandal...s involving players in the NBA and Major League Baseball, potential changes looming from the Big Beautiful Bill, and much more. #VolumeSee omnystudio.com/listener for privacy information.

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Starting point is 00:00:00 Hey guys, it's us The Jonas Brothers. I'm Joe. I'm Kevin. And I'm Nick. And guess what? We created our own podcast called, Hey Jonas.
Starting point is 00:00:08 We invented a podcast? Well, we didn't invent it. We just contributed to it. We're the first people to do podcasts. We get to ask other people questions because we're sick and tired of being asked questions. Well, sick and tired is a strong way to put it. But, you know, tired and sick. Listen to Hey Jonas on the IHeart Radio app, Apple Podcasts, or wherever you get your podcast.
Starting point is 00:00:27 Just listen. We don't care where you hear it. Another podcast from. some SNL late-night comedy guy, not quite. Unhumor me with Robert Smygel and Friends. Me and hilarious guests from Bob Odenkirk to David Letterman help make you funnier. This week, my guest, SNL's Mikey Day and head writer, Streeter Seidel,
Starting point is 00:00:44 help an a cappella band with their between songs banter. Where does your group perform? We do some retirement homes. Those people are starving for banter. Listen to humor me with Robert Smigel and Friends on the IHeart Radio app, Apple Podcasts, or wherever you get your podcasts. Imagine an Olympics where doping is not only legal but encouraged. It's the enhanced games.
Starting point is 00:01:06 Some call it grotesque. Others say it's unleashing human potential. Either way, the podcast's Superhuman documented it all, embedded in the games and with the athletes for a full year. Within probably 10 days, I'd put on 10 pounds. I was having trouble stopping the muscle growth. Listen to Superhuman on the I-Hard Radio app, Apple Podcasts, or wherever you get your podcasts.
Starting point is 00:01:28 Last night, a blown call changed a game. This morning, the internet lost its mind, and nobody's telling you exactly what happened. That's where SportsSlice comes in. I'm Timbo, and every episode we're cutting through the noise, breaking down the biggest moments in sports and giving you the real story behind the headline. And we're going straight to the source, the athletes themselves,
Starting point is 00:01:50 their locker room stories, their reactions in the moment, and the stuff nobody gets to hear. Listen to Sports Slice on the iHeart Radio app, Apple Podcasts or wherever you get your podcast. And for more, follow Timbo Slic Life 12 in the TikTok Podcast Network on TikTok. Welcome to the favorites, the podcast, part of the volume podcast network.
Starting point is 00:02:18 I am Chad Nolan of the Action Network this week. At last, we are back together again. Let's welcome in my co-host, my companion, my compadre, my BFF professional better, Simon Hunter. Hello, So I'm in. Chad, how we doing? Listen, I'm so excited to see your face. Even though we chatted a little bit, well, you were in England and I was in Chicago for my father's 80th birthday.
Starting point is 00:02:44 There's so many stories to tell about that. I missed you, buddy. I miss you in your face, hearing your voice. How are you? Good. No, it was a good little break. You know, nice hearing from fans. That missed me as well.
Starting point is 00:03:01 It's nice to know I'm loved and people still hate Chad. so that's always a good feeling. Yeah, nobody, I got, I got no messages that anyone miss me. Yeah, but no, they missed the show. And just like everyone else, a lot going on. And, you know, excited for football, obviously. But anytime me and Chad can get a little break, I think we're excited for it. Because obviously, we spend a lot of time together.
Starting point is 00:03:26 So it's nice to miss you as well, Chad. So it was a welcome break. And, yeah, I sent you pictures, obviously. Went to England C family. got to go up to Scotland with my mom and dad, which was a really cool experience. My brother came over to Edinburgh. And yeah, I'm not the biggest golf fan or whiskey fan,
Starting point is 00:03:45 but it's intoxicating once you get to Scotland, you experience. Like going to St. Andrews, you can walk the course on Sundays. It's open to the public. A pretty surreal, pretty surreal. You can just walk around on 18. The bagpipes were playing in the background. It was just a really cool, really cool, you know, thing to see. And, yeah, Scotland, the joke, if you're from England, is there's not much up there.
Starting point is 00:04:11 And I guess that's true to British people, but to someone from America, it's really beautiful and unique place, Scotland. So if I had the money and the time, I would retire and just drink my way and play golf across Scotland. It's that type of country. So, yeah, I really enjoyed my time away in Scotland. I'm not a huge drinker, as you know. But when I do drink, there are two things I'll drink. One, a repisado tequila. Two, lagavulin scotch.
Starting point is 00:04:49 The peteest, most Scottish scotch I can get. That's what I want. It's fantastic. Yeah, and again, it's all over. I try to get at, when I first got the thing, I tried to get after it when I first landed, and I literally burned myself out for the rest of the trip. Like I got so hungover. I didn't want to drink again for about two or three days.
Starting point is 00:05:12 And I think that's how it goes, especially you get old. I mean, I know I'm old, but in my mind, you know, everyone still feels young and hard. Hangover's hit like a motherfucker in your mid-30s. It really is. You drink hard liquor like that. It really hits. But, yeah, there was a couple times. I went to a pub that was from the 1700s.
Starting point is 00:05:31 Like it was built before America was America. And like you just, to them, that's, that's pretty old, but not that old. So you're in history like that where it's just funny coming from America. Yeah, I'm right there with you, brother. It's just a vibe there. Like if you're going to drink anything right, scotch, whiskey, urban, all of it. They're drinking it. And I really enjoyed it.
Starting point is 00:05:52 you just said hung over and feeling it so you know i live in a house with an 18 year old who graduated high school a month ago and has an incredible group of friends and a great girlfriend and is going to college in the fall so and is like working a fun summer job running the friar at the lower pool club with all of his buddies and every day is just comedy and fun. So the other night, my wife and I, 1.45 in the morning, hear what sounds like somebody killing an animal in my son's bathroom. Oh, no. He had one of those? One of those nice. Oh man, that's the worst. And my wife, this is how like we handle it differently.
Starting point is 00:06:54 My wife is worried. She's up. When he is in bed, trying to sleep, she's leaving him gatorade by his bed. I'm not even moving. I'm not even thinking. I'm like, you do it once, you do it twice, you learn your limits. It's good practice for college. You figure out what you can do.
Starting point is 00:07:15 like he's not the first person that this has happened to he's not the last person this will happen to I see him the next day and he's just like it's just the spins it's just the spins when you're lying there I felt I felt so bad for him but I was proud of him because he got up and he went to the club the pool club and he worked the friar and he was back there in that heat and it is it is no freaking joke and by the way he did this on the night of July 4th, I had been, got up at 6 a.m., took the train from Hartford to the city, and then the subway from Penn Station to Coney Island, the last stop on the subway line because I went to the Nathan's hot dog eating contest because I, you know, I'm writing this
Starting point is 00:08:06 book and one of the people that I'm profiling in the book, who is a huge professional better, one of the best NFL prop betters in the world. He also loves to bet the hot dog contest. So I wanted to be with him when he's betting the hot dog contest. And so I went out there. I got there at 10.30 in the morning, just as Mickey Suda was about to start, she won her competition, but she went way under, created a little bit of havoc, a little bit of chaos for the way my guy was betting and how he was thinking.
Starting point is 00:08:42 what that portended for the male competition. But dude, it was a freaking, it was a freaking blast to go to that thing. And be with someone who's really thinking about it from betting opportunity. And what was interesting is to me, like we all laugh about it. And you say the Nathan's hot dog eating contest and it just makes you smile. But he looked at it as such a pure handicapping exercise. It's not something you can model. It's only something that you can figure out through research.
Starting point is 00:09:12 instinct, study, history, trying to find interesting patterns. He looked at it more as a pure handicapping experience as anything else. To me, I loved that. I just thought that was a total blast to experience that and have that unique of a perspective. Yeah, incredibly sharp contest. Obviously, everyone knows the hot dog buns, a big thing we all bet on. Hot dog everything like that. I mean, me and you talk a little bit about how much they care about the buns of the hot dogs. What was it chestnuts? Seventy one of a half, opened at 69.5. Landed on 70 and a half. So yeah, it's one of the more professional focused things in the summer and obviously fine edges. But I've had obviously, you know, that's on my buck list. I want to go to it. I just had an insane
Starting point is 00:10:00 48 hours of flying red eye to Vegas, flew back last night, just meeting with people, just so much going on. When I got back from England, it was like, all the shit really hit the fan. I got back basically July 1st. And I was planning on going out there. I think, Chad, I haven't really talked about on the show a little bit, but I was going to enter the World Series of Poker. Have we talked about this? Yeah, and it was just going to be if I was running hot. And I'd been playing really good.
Starting point is 00:10:26 I really started training hard in March. And I really was running hot in probably to the end of April, early May. And then I went very cold. I just was not reading well before. I went away and I was hoping when I came back, maybe if I was on the right mind, I was going to go there, play a small couple tournaments and then if I did well, I was just going to stay and do a couple shows from there and try to obviously make the money. But I got them. There's just too much going on. Meachad are obviously about to dive into it. But yeah, just a world win. I'm hoping next year I can do
Starting point is 00:10:56 what she's a poker. I know I talked to a couple of fans who went out there. I mean, obviously met up with a couple people when I was there. Always, always down to get a drink with different fans that reach out. But yeah, when I was there watching the World Series, a ton of a regret that didn't enter it just because how much fun it looks. But like we're about to dive into, there's just so much shit going on. And the sports betting award, I just really was my mind is, mine's not right to be doing that kind of stuff. And as we're going to dive into, there's just, there's just too much going on for me to focus on it. So yeah, it's going to be back in Jersey. I'm happy to be back from vacation. I'm hoping to chill just for a week or two and catch my breath here, Chad.
Starting point is 00:11:31 Well, look, I would argue that while you were away, included some of the most consequential and I think impactful moments in the betting space since legalization in 2018. If you are a professional better, an avid better, recreational better, even a casual better, all of this impacts you because there has just been a cascade of laws and taxes and changes to the industry that are independent of each other. But when you add them all up, impact literally everybody. If you are betting $5 a game in New Jersey or Illinois, all of a sudden you are going to find that operators like Draft Kings and Fanduil are going to be charging you a 50 cent per bet
Starting point is 00:12:20 fee because now the taxes for those operators have been raised in certain states. There have been changes in federal law included in the big beautiful bill, which you are a follower. If you were a follower of gambling Twitter, you have seen this. all over where for years and Simon will talk about this, you could deduct 100% of your losses from your taxes. So if you made $100,000 betting and you lost $90,000 betting, you could deduct that $90,000 and what you ultimately made and pay taxes on was $10,000. Included in the big, beautiful bill now is a provision, which is a provision, which is,
Starting point is 00:13:04 legal now, it is a law that you can only deduct 90% of your losses. So you might end up paying on what's essentially phantom income. That has been a huge conversation. That could be millions and millions of dollars for gamblers. The provision is estimated to earn, to create $1.1 billion in revenue for the government over the next several years. There have been two betting scandals involving players that we are going to talk about, both in the NBA and in Major League Baseball. And sort of the social media reaction to those has been fascinating because we are in a time where anybody can be Sherlock Holmes if they have a TikTok account and access to video and a little bit of information and a lot of speculation.
Starting point is 00:13:53 There are upstarts in the form of prediction markets like Kalshi, Polymarket, sport trade, now posing real threats to the current status of sports betting and providing new options of sports betters, all of which becomes more relevant with the big beautiful bill and increase in taxes and the opportunities for sports bettors to play in these markets where it might be a little bit more equitable. And generally, Simon, I think there's just growing hostility in the sports betting space. It's from operators towards professional betters who are consistently getting banned because operators don't want to take their money. It's regulators towards the operators who are trying to find more way to raise money. So they're increasing taxes.
Starting point is 00:14:40 It's the federal government towards betters with this big, beautiful bill. It's society against the idea of sports betting. Bob Costas was on Meet the Press this past weekend talking about the ills of sports betting. Wild, wild times. We're going to talk about all of that from his point of you as a pro, mine as a journalist who was reporting on a lot of this and it's all in my head right now for this book I am writing. The prediction marks especially are fascinating to me. And to me, that deserves a much longer, broader conversation, deeper conversation. So on Thursday show, Simon and I will speak with Chris Gerlocker, who's a reporter for prediction news, who has been covering prediction markets for a long time.
Starting point is 00:15:29 he's going to join. And I would say that since I've been reporting this book, the influences of these businesses has become an increasingly important narrative in our space. And there's sort of disruption that is happening and how these things are being framed is so big that it is akin to the way people talked about Uber, the way people talked about social media, Calshy. one of the prediction markets, the one that is legal in the United States, just raised $185 million, is now valued at $2 billion. Polymarket, another one, which is not legal in the United States, raised another amount of money. It's worth a billion dollars in valuation.
Starting point is 00:16:17 So there's a lot to discuss in this space. We'll unpack all of that with Chris on Thursday. Simon. I mean, it's fucking midsummer. And there's not supposed to be anything going on. And all of this is going on. Here's the first thing I want to ask you about, if you don't mind. Unless you feel passionate about one of the topics,
Starting point is 00:16:43 I want to ask you about one of the topics. Yeah, let's run through all of them. All right. So the first one is the betting scandal, right? Because with the players, we're talking about Malik Beasley, for the Detroit Pistons and being under investigation for betting. And then Luis Ortiz, the Guardians pitcher who was under investigation for gambling.
Starting point is 00:17:12 This one was broken by Ken Rosenthal, the athletic. And then David Purdom and Jeff Passon at ESPN advanced it because they identified that there were two pitches that Ortiz had thrown that were specific. under investigation. And with Beasley, it's prop bets that were specifically under investigation. And to me, it was fascinating to go on social media and see the video evidence
Starting point is 00:17:39 of the two pitches that Ortiz was under investigation for. What are your thoughts generally on these kinds of scandals and how they are impacting the space? I mean, I have a lot of opinions on it, Chad. To start from the top, it's two different sports, which is a big deal, obviously, because they happen around the same exact time. The Ortiz one, I don't think he can blame my interpreter.
Starting point is 00:18:07 This is very, very noticeable. He did something in a game because I think it's what they're breaking down the video, if I'm not wrong, Chad, is it's the first pitch, right? And very easy for these books to track. So I say it all the time, people don't understand how much, you know, how much there was in scandal, players, tanking games, throwing boxing matches, all this stuff from the very beginning
Starting point is 00:18:33 of sports when betting came around. This stuff has been around forever. That is why to us, people in the know, especially Chad, it's so great that the legalization of sports have happened because of these exact things.
Starting point is 00:18:46 They can catch these people now that they try to tame our games that we love and we, again, it would ruin so much to know that these things were happening, especially at the highest level now. Lucky for us, these things keep happening to players that, again, they're not nobodies. I mean, again, the Oetani thing, that's for another day.
Starting point is 00:19:03 But it's like these other people, they're not, it's not like they're the highest of highs, but they are names and these athletes in these sports that are pretty well known. Like Beasley was about to supposedly, apparently it was about to get paid. And now, yeah, now I was looking at jail time, possibly. So it's a really big deal. So as someone that this is my life, this is what I work in, I love it. because it's like keep it clean, keep it all above board. And at the end of the day, the more you learn about the stuff,
Starting point is 00:19:33 it all comes back to debt and owing people. And that's the scary part. Is these people getting in trouble for different things? Maybe they have their own gambling addictions themselves. And they get into these holes. So yeah, just at the end of day, it's all sad because it's like lives ruined, millions and million dollars cost to them. Their families are ruined in certain ways as well.
Starting point is 00:19:49 So brutal, but the things we have in line, it makes it today much a better product, on sports and it was even say 10 years ago. It's so much cleaner protected than it used to be. I'm such a fan that they keep catching these people either with AI or whatever it is, these algorithms that keep catching these people with just a really big fan of it. Props to the people who do the work. It's not only as a real journalism, it's real work by these sports books catching these people doing this stuff.
Starting point is 00:20:18 Hey, it's us to Jonas Brothers. And guess what? We have some big news. What's the news, huge news. We created our own podcast called, Hey Jonas. We invented a podcast. Well, we didn't invent it. We just contributed to it.
Starting point is 00:20:30 We're the first people to do podcasts. Pretty, yeah, pretty wide range of podcasts. We're starting a trend. But this one's extra special. So how did we actually come up with a name, Hey Jonas, guys? I honestly don't remember. I think it was on a call about what we should call it. Oh, we were thinking I'm originally calling it one of the early names of our band.
Starting point is 00:20:51 Before Jonas Brothers was... This is how you guys remember it going down? Yes. I have a very different memory of this. We were talking about a thing, a bit for the podcast, where people could call in and say, hey, Jonas. And then I wrote down on my little notepad, Hey Jonas, and offered it up as a potential title for the podcast.
Starting point is 00:21:08 But thanks for remembering that, guys. Listen to Hey Jonas on the IHeart Radio app, Apple Podcasts, or wherever you get your podcast. Just listen. We don't care where you hear it. Another podcast from some SNL late-night comedy guy, not quite. Unhumor me with Robert Smygel and friends. Me and hilarious guests from Bob Odenkirk to David Letter
Starting point is 00:21:27 help make you funnier. This week, my guest, SNL's Mikey Day and headwriter, Streeter Seidel, help an a cappella band with their between songs banter. Where does your group perform? We do some retirement homes. Those people are starving for banter.
Starting point is 00:21:41 Listen to humor me with Robert Smigel and Friends on the I-Heart Radio app, Apple Podcasts, or wherever you get your podcasts. The French Open is one of the toughest tests in tennis, and I know firsthand because I competed there myself. I'm Renee Stubbs, and on the Renee Stubbs Tennis podcast, I'm breaking down everything happening at Roland Garris.
Starting point is 00:22:01 Every match, every upset, and what it really takes to win on Clay. Jen, she went. I mean, she went down in three to Rabakina, but I'm delighted. She's an outsider to win the French for me. And she likes Clay. Listen, Lennar Rabakina is arguably the best player in the world right now, and I actually can win on any surface.
Starting point is 00:22:20 Because if she's serving, well, good luck. Consider this your court-side seat to the French Open. Listen to the Renee Stubbs Tennis podcast on the IHeart Radio app, Apple Podcasts, or wherever you get your podcasts. Presented by Capital One, founding partner of IHeart Women's Sports. Imagine an Olympics where doping is not only legal but encouraged. It's the enhanced games. Some call it grotesque. Others say it's unleashing human potential.
Starting point is 00:22:47 Either way, the podcast's Superhuman documented it all, embedded in the games and with the athletes for a full year. Within probably 10 days, I'd put on 10 pounds. I was having trouble stopping the muscle growth. Listen to Superhuman on the IHard Radio app, Apple Podcasts, or wherever you get your podcasts. I don't know exactly what alerted people to anything related to Beasley and what that investigation. It's always going to be the money coming in on the bets, Chad.
Starting point is 00:23:16 Right, but I don't mean like how they tracked it, right? With Ortiz, there's an organization called I, I see 360. And they do global monitoring of markets and are in regular communication with the operators and with the leagues to police what's happening. And IC 360 is the one that recognized what was going on with Ortiz and then alerted the authorities that needed to be known, that needed to know about what was happening. So that's an important part of this. That has been going on for 30 years, right? And 30 years ago, the operators were regularly talking to the leagues themselves.
Starting point is 00:24:10 That's how scandals like the Arizona State college basketball betting scandal came to be known, is the operators recognized strange betting patterns and were able to shut down the betting and then communicate to the NCAA about what was happening. Now there are global organizations that monitor this as it's become bigger and as the leagues themselves have just so much more at stake and at risk because of the legalization of sports betting
Starting point is 00:24:45 and because of the stances they've taken, I had a conversation with someone I'm talking to at the NFL for this book, and we were talking about sort of the threat to integrity of the game. And I made the point that, as you just said, Simon, there have been betting scandals as long as there have been sports, literally. Major League Baseball, the National League was founded in 1876. in 1877, there was a betting scandal. And Matt Mitchell and I talked about this on sort of the great moments in gambling
Starting point is 00:25:24 podcast. The Pittsburgh Steelers, the New York Giants, the Cleveland Browns, the now Arizona Cardinals, the New York Yankees, all founded by professional betters or professional bookmakers. Because those are the people who were willing to take the biggest risks. and had cash at hand and liked sports when all these things were becoming a big deal, every sports betting scandal has been followed by increased viewership, increased rights, increased audience, increased interest. I think the sports betting scandals are terrible.
Starting point is 00:26:07 I don't think they're going to be the death knell for sports. Really what worries me for sports and sports betting is violence. violence against the players. Because I do think that's going to be something that we saw it with Lance McCullors. We saw Tyrese Halliburton talked about it last year. When players have to start getting security, when fans can't control themselves, when there is a sort of you forget who you are, where you are, or even worse, you didn't know to begin with, and you are blaming the players for your losses,
Starting point is 00:26:41 that to me is a really frightening development that seemed to be much less relevant or obvious before sports betting became legal and before the number of people betting had increased. That's fair, but I mean, that's always been around, right? Fanatic, fan. I mean, that's always been, I mean, what was that movie? They made back in that, not Al Pacino,
Starting point is 00:27:10 I forget who it was. He was a crazy fan. Oh, I don't know it. Oh, no, you would love it. It's terrible, but it's a good movie. Just about how crazy fans are. He literally captures a player, tells him hostage. But yeah, it's always been there, Chad.
Starting point is 00:27:26 I agree with you. Like, obviously a guy yelling at a basketball player about losing his $10 parlay because they didn't hit some shot. It's a bad part of it. But like I told you from the get-go, we're just in the early days for it. So you're always going to have these people like Bob Kossis or wherever. coming out and talking about how bad it is and the negative stuff of sports betting. There's always going to be a couple of bad eggs. It's just the way it is. It's the same thing we talk about with alcohol and cigarettes and things like that, where it's freedom of choice.
Starting point is 00:27:55 We know it's not the best thing, but obviously if people can keep their shit together and keep their cool, it's a great thing for the general public to be able to do to enjoy life and it's just another thing, one part of it. But yeah, the going on social media and telling people they're going to kill their families. I'm happy they catch and prosecute these people, right? That's another good thing that they're doing now is these assholes aren't just getting away with making these outlandish threats. Like, there are consequences to these certain words you say to people.
Starting point is 00:28:21 So I'm with you. It's the black stain on what we do is these people that go out of their way to, like, you know, say horrible things people, me and you are part of it. Like, this is part of our job. We get the stuff people say to us, it's insane where I just know, me personally, no one would ever say that to my face. So it is a weird thing that we are involved in this board we're in. But again, I love it.
Starting point is 00:28:44 It's all weird and unique in its own way. But I wouldn't change it. Obviously, there's things I would change to it. But overall, it's what the craziness is what makes it work, Chad. So I'm with you, though. When you hear those stories, it's just horrible when you read that stuff about these players, what they go through with those fans. Think about you, Simon.
Starting point is 00:29:01 People say mean things to you, and they like you. They don't like me. That's tough. Think about what I get. Yeah, I can only imagine. So I also found it really fascinating the way people on TikTok, Instagram, wherever, were speculating about Malik Beasley. They didn't even know what he was being investigated for. But they were taking out of context clips and saying, look at how obvious he's,
Starting point is 00:29:37 it is that he was fixing this game. To me, that felt totally irresponsible and tasteless. And that, to me, whereas the Ortiz stuff, you could find the video evidence, that to me felt like the flip side, underbelly, sensational idiocy of what happens on social media when you are connecting one plus one,
Starting point is 00:30:07 and getting three. Yeah. That's what it is. Robert De Niro the fan. That's what it was. I was trying to think. I couldn't even look it up. I was like, what the hell was the name of that movie?
Starting point is 00:30:15 I couldn't even think he was the lead actor. Robbeniro, the fan. An insane fan. And it's like we're talking about here, Chad. There's just. Wesley Snipes. Yes. Yes.
Starting point is 00:30:38 So they're just, they're going to be out there. What can you do? It's part of what, it's part of the game. And the most shocking thing, too. Again, I don't spend much time on social media. was these poker players talking about, well, we're about to talk about this big, beautiful bill.
Starting point is 00:30:51 Yes. And the hate and disdain they would get from people. And it's like, it's just bizarre. It is bizarre. It's a bizarre world we live in. So, yeah, we should definitely dive into that. Well, let's talk about it. So the Big Beautiful Bill was passed.
Starting point is 00:31:07 And in the moments before it was passed, say 24 hours or so, you started seeing the news popping up via Twitter, largely about changes to how professional betters could file their taxes. And it used to be you could take 100% of your losses and deduct that from your wins that you filed for. Simon, you file as a professional better. And then all of a sudden you're getting what basically your salary is. But because gambling is not necessarily the best thing for society.
Starting point is 00:31:44 and because gamblers are not the most sympathetic group, this was something that through the finance committee had been studied and then was added to the Senate's big, beautiful bill. And when Congress was going through it, it got through. And it became a pretty big uproar, not just from gambling Twitter, but then all of a sudden the Washington Post did a story about it. ESPN did a story about it.
Starting point is 00:32:15 The New York Post did a story about it. Axios did a story about it. It was fascinating to me of the thousand-page bill and all of the provisions in this bill, including the fact that I believe there were provisions that made it easier or more cost-effective to get a silencer. This is the one that bubbled up and became sort of so interesting for people, from your point of view, Simon, I've basically laid it out. You can only deduct 90% of your losses now.
Starting point is 00:32:52 Explain from your point of view how that impacts professional betters. And I will say, this was such a cost-seleb that already the representative from Las Vegas has proposed a bill to reverse this and is already getting support. It needs bipartisan support. I think it will get it. This doesn't go into effect until the end of 2026. So my senses over the next 18 months, this might be repealed. But in the immediate, it's something you've got to think about, Simon.
Starting point is 00:33:23 Yeah, and I could obviously take 10, 15 minutes on us, but we don't have that much time. And I would just say the quick version is it's over. They've made it so that it's impossible to make a living betting in America legally. So we'll dive more time into it. We have more time and to break it more down. but as right now is it starts. Well, hold on.
Starting point is 00:33:42 I know Matt Mitchell is pushing us, but like, this is a huge topic. I know. Give it a little bit breath here. I mean, just the basis of it, it's just, there's too many moving parts right now. We don't know what's going to happen, right? Like what you just said, it's impossible. It's impossible to make a living when I'm paying for 10% of my losses. And we haven't even talked about New Jersey either.
Starting point is 00:34:09 Like what they're doing in New Jersey. It's just we're being attacked. And I dripped with you. In America, they will do anything. Our government will do anything in their power to tax anybody but the rich. And this is just another one of those things. Because again, yes, it's affecting professional betters.
Starting point is 00:34:27 We make a living finding ways around the rules. So this is not going to affect this in the long term in any way, other than it's fucking up my life and maybe it'd have to make me move to fucking England. I don't want to move to England for six months, but that might be what my life is because Canada is the same way. Canada will tax you for being a professional better. So, you know, the only countries that are left, maybe I'll be in Bermuda for six months. Like all the options of the table, I've been meeting with people for the last two days about it
Starting point is 00:34:53 because it's such a big deal. And yeah, it's it's blindsiding because I heard whispers, but I didn't think it was real because it's so stupid. And it went through. It's like these guys just don't know what they're doing. So, yeah, Chad. I just, it's something we're going to spend. a lot of time long because it's it's one of the more fascinating stories like you said since the
Starting point is 00:35:12 legalization of sports betting in this country and it's a clear attack on professional betters and people who make their living beat in the casinos so that's all i'm going to say at that part i do have a theory about this i want to leave a little bit of a cliffhanger if matt mitchell had hair on his head he'd be pulling it out right now because he wants us to uh to save some of this for part two of this very special podcast episode, which I will, because I do have a theory and I want to bring it up with our guest, Chris Gerlocker, who's going to be joining us on Thursday's show.
Starting point is 00:35:52 So I want to leave a little bit of that meat on the bone. So let's just say that we will return with our next episode of the favorites Thursday on the Action Network YouTube page with special guest Chris Gerlocker. Download us from Spotify, Apple, Pods wherever you get your pods rate review, subscribe, leave us five stars
Starting point is 00:36:11 say whatever you want. Feedback as a gift. Until next time, love you. Action Network reminds you. Please gamble responsibly. If you or someone you care about has a gambling problem help is available 24-7 at 1-800 gambler.
Starting point is 00:36:33 Hey guys, it's us. The Jonas Brothers. I'm Joe. I'm Kevin. And I'm Nick, and guess what? We created our own podcast called. Hey, Jonas. We invented a podcast? Well, we didn't invent it. We just contributed to it. We're the first people to do podcasts.
Starting point is 00:36:47 We get to ask other people questions because we're sick and tired of being asked questions. Well, sick and tired is a strong way to put it, but, you know, tired and sick. Listen to Hey Jonas on the IHeart Radio app, Apple Podcasts, or wherever you get your podcast. Just listen. We don't care where you hear it. Another podcast from some SNL late night comedy guy, not quite. Unhumor me with Robert Smigel and Friends. Me and hilarious guests from Bob Odenkirk to David Letterman helped make. You funnier. This week, my guest, S&L's Mikey Day and head writer, Streeter Seidel,
Starting point is 00:37:17 help an a cappella band with their between songs banter. Where does your group perform? We do some retirement homes. Those people are starving for banter. Listen to humor me with Robert Smigel and friends on the I-Heart Radio app, Apple Podcasts, or wherever you get your podcasts. Imagine an Olympics where doping is not only legal, but encouraged. It's the enhanced games. Some call it grotesque. Others say it's unleashing human potential. Either way, the podcast's Superhuman documented it all, embedded in the games and with the athletes for a full year.
Starting point is 00:37:50 Within probably 10 days, I'd put on 10 pounds. I was having trouble stopping the muscle growth. Listen to Superhuman on the I-Hard radio app, Apple Podcasts, or wherever you get your podcasts. Last night, a blown call changed a game. This morning, the internet lost its mind, and nobody's telling you exactly what happened. That's where Sports Slice comes in. I'm Timbo, and every episode, we're cutting through the noise, breaking down the biggest moments in sports and giving you the real story behind the headline.
Starting point is 00:38:20 And we're going straight to the source, the athletes themselves, their locker room stories, their reactions in the moment, and the stuff nobody gets to hear. Listen to SportsSlic on the IHeart Radio app, Apple Podcast, or wherever you get your podcast. And for more, follow Timbo Slicalife-12 in the TikTok podcast network on TikTok.

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