MLB Strikes New Deals With NBC, ESPN & Netflix; Jordan Spieth's 'Crush It Cup'

Summary

Bloomberg Business of Sports

Episode Title: MLB Strikes New Deals With NBC, ESPN & Netflix; Jordan Spieth's 'Crush It Cup'
Date: November 21, 2025
Hosts: Michael Barr, Vanessa Perdomo, Damian Sassauer
Featured Guests: Hannah Miller (Bloomberg News), Joey Levy (Better), Jordan Spieth (PGA Golfer)

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Episode Overview

This episode spotlights the business and broadcast future of Major League Baseball through newly inked deals with NBC, ESPN, and Netflix, exploring implications for fans, media, and streaming. The team also covers sparking headlines around sports betting scandals and industry innovation, and features an in-depth interview with three-time golf major champion Jordan Spieth on his “Crush It Cup” charity event, family, and the state of professional golf.

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Main Topics and Segments

1. MLB’s New Broadcast and Streaming Deals

(Starts ~03:24)

Key Points:

• MLB agreed to new broadcast packages worth about $800 million with NBC Sports, ESPN, and Netflix.
• NBC re-enters MLB coverage after over two decades, bolstering its sports content portfolio.
• Netflix obtains exclusive rights to special events, such as the Home Run Derby, Opening Day, and the Field of Dreams game—furthering Netflix’s approach of pursuing high-profile one-off live events instead of full seasons.
• ESPN retains MLB rights at the same $550 million annual price but dramatically reconfigures the deal to focus on streaming integration and more regional/local games, aiming for flexibility and alignment with evolving fan habits.

Notable Quotes:

• Hannah Miller:

  "Netflix also got the Field of Dreams game, which is really fun. ...Netflix, they don’t always want to go for a full season of a sport. They like those one-off events." (04:36)

• Michael Barr:

  “NBC and Peacock, we'll just call them Sunday because they're getting all the games.” (05:49)

• Hannah Miller:

  "There's this constant issue of fragmentation…making it hard for fans to know where to go to watch their favorite teams." (06:09)

• Damian Sassauer:

  “As a consumer, where do you go?” (06:58)

• Hannah Miller:

  “Commissioner Manfred’s big goal here was to get all of the rights to kind of expire at the same time…so they can kind of consolidate and get as big a package as possible three years out.” (07:56)

Concerns Highlighted:

• Increasing fragmentation and complexity for fans as rights are split among many platforms.
• MLB’s effort to synchronize rights expiration by 2028 to foster a more powerful future deal cycle.

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2. Sports Betting: Scandals, Regulation, and Industry Changes

(Starts ~08:28)

Key Points:

• Ongoing baseball betting scandals, including the recent case involving two Cleveland Guardians pitchers, raise questions about the sport’s integrity and the role of prop bets.
• MLB and Commissioner Rob Manfred’s response: capping prop bets at $200 and emphasizing cooperation with Senate inquiries.
• Larger concerns around sports betting’s reach—across MLB, NBA, and worldwide—fueling scrutiny of integration with broadcasts and tech platforms.
• Growth of prediction markets like Kalshi, and increased visibility and normalization of gambling in sports.

Notable Quotes:

• Hannah Miller:

  “Betting is just becoming more and more pervasive. ...There has always been a gambling culture in sports, but it’s just much more in your face now.” (10:46)

• Joey Levy (Better CEO, later in episode):

  “While there’s been some disappointing...scandals...these developments are actually a really good reminder of why it’s so important for gaming to be regulated and kind of above board and with a spotlight on it.” (26:26)

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3. The Evolving Sports Media Marketplace

(Starts ~11:20)

Key Points:

• Major broadcast rights for other sports (Premier League, UFC, NASCAR, and eventually NFL) are coming up for negotiations in the next few years, expected to drive substantial financial deals.
• Contrast between previous long-duration rights deals (10–15 years) and the current trend for shorter, more flexible two to three-year contracts.
• Economic uncertainties may impact the size and frequency of future record-breaking media rights deals.

Notable Quotes:

• Damian Sassauer:

  “I remember…10-year deals, 15-year deals. Now we’re talking two, three-year deals. It just seems really, really competitive.” (12:07)

• Hannah Miller:

  "For the NFL, it’s gonna be, it'll be really interesting to see what happens. It’s gonna be big, big money." (12:45)

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4. Sports Betting Innovation & Audience: The Better App

(Starts ~16:26)

Key Points:

• Joey Levy, CEO of Better, defines the company’s approach as a “super app” for real-money gaming, offering multiple products—social sportsbook, skill-based arcade games, and more—within a seamless, single platform targeted especially at Gen Z and millennials.
• Emphasizes pop culture relevance, using media personalities like Jake Paul and partnerships with the Ball Brothers to reach younger, digitally savvy fans.
• Aims to build both a gaming platform and a broader lifestyle brand, transcending conventional sports betting demographics.

Notable Quotes:

• Joey Levy:

  “Better is actually the most followed sports gaming brand on social media right now. ...We do a good job of really catering to the next generation through a lot of the content that we create on social media.” (17:11)

• Joey Levy:

  “Our customer acquisition cost this NFL season...has been only $50, which is likely an order of magnitude more efficient than competitors.” (24:13)

• On Regulation and Scandals:

  “If the market were not regulated...these scandals would have never come to light.” (26:26)

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5. Jordan Spieth: The “Crush It Cup,” Family, and Golf’s Future

(Starts ~29:45)

Key Points:

• Jordan Spieth discusses his “Crush It Cup”—a youth golf charity raising substantial funds and engaging young players across the country.
• Emphasizes inclusiveness, mentorship, and fostering the next generation of golfers.
• Shares personal reflections on family, especially the impact of his younger sister Ellie, who has special needs, on his perspective, character, and philanthropic drive.
• Talks about using his platform to make a difference both in and out of sport.
• Reflects on his legendary 2015 season at age 21 and ambitions at age 32 to recapture that peak form.
• Weighs in on ongoing PGA and LIV Golf division, expressing hope for future unification under the right circumstances.

Notable Quotes & Memorable Moments:

• Jordan Spieth (on the “Crush It Cup”):

  “It’s not only a golf tournament. Everyone who’s here, they’re here because they raised a significant amount of money...going to support our foundation, which will go back into junior golf." (30:17)

• On mentoring kids:

  “They're never short on questions...Sometimes it does [focus on golf], sometimes it doesn’t. ...It’s just—they’re kids, and it’s fun to be a kid for a day.” (32:07)

• On family’s influence:

  "Perspective is probably the number one key...recognizing that when you do have a platform, it is important...that it can make a difference. ...It's been super fun to...be what, 12 years into...a foundation now and all that we've been able to do with it." (33:36)

• On competing and charity:

  "These golfers played 15,000 holes raising $118,000 just through this initiative." (36:18)

• On recapturing his peak:

  "I'm 32 now, but 10 years removed from that season...32 is still right in the middle for golf. ...I’m pretty fired [up] to try to, you know, touch that level again." (39:49)

• On PGA and LIV split:

  “Everyone’s kind of running at their own pace. …I think you focus on trying to make the best product that the PGA Tour can have and then however else it’s gonna fall, it’s gonna fall.” (40:14)
  “I think [unification] would be helpful for the sport, but under the correct terms, under the right way to bring it back together.” (41:17)

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Important Timestamps

• MLB media deals and fragmentation: 03:38–07:56
• State of sports betting scandals: 08:28–11:20
• Future of sports media rights: 11:20–13:11
• Interview with Joey Levy, Better CEO: 16:26–28:37
• Interview with Jordan Spieth: 29:45–41:51

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Tone and Style

The episode is direct, insightful, and conversational, blending deep expertise with a light, affable rapport among co-hosts and guests. Industry analysis is balanced with human stories—especially in the Jordan Spieth segment—which brings the big-money themes of sports business down to a personal level.

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Summary for New Listeners

If you haven’t tuned in:

• You’ll get a clear, jargon-free explanation of why MLB’s new media deals matter, what they mean for fans, and why watching your favorite team is about to get even more complicated.
• The episode weaves in timely commentary on the explosion—and risks—of sports betting, why regulation matters, and how companies like Better try to use social reach to build the next big thing in gambling.
• The highlight is Jordan Spieth’s candid reflections on charitable work, family, adversity, and evolving professional golf. Even if you aren’t a golf fan, his approach to money, meaning, and mentorship resonates on and off the green.

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Memorable Closing:

• Michael Barr (to Jordan Spieth):

  "Well, I have never seen Damian come in the studio early. And when they said we’re going to talk to Jordan Spieth, Damian was like, oh, let me get my shoes." (41:31)

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You’ll walk away with a fresh understanding of the rapid shifts in sports media and gambling, and the enduring human stories behind the headlines.

Transcript

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[Damian Sassauer]

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[Damian Sassauer]

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Did you know Tide has been upgraded to provide an even better clean in cold water. Tide is specifically designed to fight any stain you throw at it. Even in cold butter. Yep. Chocolate ice cream. Sure thing. Barbecue sauce. Tide's got you covered. You don't need to use warm water. Additionally, Tide pods let you confidently fight tough stains with new coldzyme technology. Just remember, if it's gotta be clean, it's gotta be Tide.

[Damian Sassauer]

Bloomberg Audio Studios Podcasts Radio News this is the business of sports.

[Jordan Spieth]

Sports are the greatest unscripted show on earth. The next generation of podcast players really grew up with tech and believe in tech.

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These are such iconic and important buildings for businesses. For fans, Covid was one of the.

[Jordan Spieth]

Best things that ever happened to golf.

[Michael Barr]

The NFL is a bulletproof business.

[Jordan Spieth]

Racing's unique because there is absolutely no.

[Hannah Miller]

Reason why we can't compete with the guys.

[Jordan Spieth]

Come on, is pro pickleball real? Are people really going to tune into this? If you're playing Moneyball with a huge.

[Joey Levy]

Bag of money, you're going to be really, really good.

[Damian Sassauer]

Bloomberg Business of Sports from Bloomberg Rad.

[Michael Barr]

This is the Bloomberg business of sports where we explore the big money issues in the world of sports. I'm Michael Barnes.

[Damian Sassauer]

And I'm Damian Sassauer.

[Michael Barr]

We'll hear from Vanessa Perdomo later on in the show. Coming up, we'll talk with PGA golfer and three time major winner Jordan Spieth. That's right, I said Jordan Spieth about his annual charity youth golf event and more.

[Jordan Spieth]

2025 is a really good year for the PGA Tour. And so I think you focus on trying to make the best product that the PGA Tour can have. And then however, el going to, you know, fall. It's going to fall. So we can't really control what's going on. You know, on the live side, it seems like they're happy with where they're at, but at some point, you know, they've showed interest in combining the game.

[Damian Sassauer]

We will also talk with the founder and CEO of Better, a gaming and sports media company.

[Michael Barr]

All that is on the way on the Bloomberg business of sports. But first, the MLB just reached new broadcast deals valued at around $800 million with NBC Sports, ESPN and Netflix.

[Damian Sassauer]

Here now to break it down is Bloomberg News media reporter Hannah Miller. Hannah, welcome to the Bloomberg business of sports.

[Hannah Miller]

Thank you for having me.

[Michael Barr]

And of course, you always have brilliant articles. This one is on Major League Baseball and the new deals with NBC, ESPN and Netflix.

[Hannah Miller]

That's right. Yeah. We finally got word on what, you know, the media deals are going to look like for mlb.

[Damian Sassauer]

Well, isn't this the first time NBC is involved in like two decades or maybe even more like 25 years?

[Hannah Miller]

Yeah, yeah. I mean, we've seen a really big push with sports with NBC. You know, they want a lot of content. I mean, obviously they're already a powerhouse, but they want to build out their portfolio even more. And this is just evidence of that.

[Damian Sassauer]

So, so, so how does this look? I mean, I mean, it sounds like the Home Run Derby and the opening day game go to Netflix and then I guess ESPN has the right to, to mlb.com I mean, talk to us about, you know, the structure of the deal.

[Hannah Miller]

Yeah. Netflix also got the Field of Dreams game, which is really fun. Yeah. And I think that that shows for them, you know, their push further into live sports. And we've seen with them, you know, they, Netflix, they don't always want to go for like a full season of a sport. They like those one off events, those special things that you can tune into every now and then. So, you know, this is, this is a nice get for them for espn. They're the ones that started all of this drama. They opted out early of their original package. What we see here now is they've really reshaped it to their liking. It's still the same price tag that $550 million cost. But we see some major, major differences here. The emphasis is really on the streaming platform and kind of integrating MLB TV and into ESPN's new streaming service. They're really trying to build that out, so that's a big asset for them. And then the other thing too is, you know, they wanted these more regional kind of feel. They wanted these local games, these local rights. So that's a good get for them too. We've heard Jimmy Pitaro, the chairman of espn, talk about that multiple times now.

[Michael Barr]

NBC and Peacock, we'll just call them Sunday because they're getting all the games.

[Damian Sassauer]

And it's not just Major League Baseball. Right. Nicolbar? I think it's NFL, NBA. I think they own Sundays now in many respects.

[Hannah Miller]

Yeah, 100%. Yeah. And we've seen also Roku. You know, they. Those games from Roku have moved over now to NBC.

[Jordan Spieth]

So.

[Hannah Miller]

Yeah, I mean, Sunday's huge for them. I mean, NBA on Peacock has been. Has been going well. They've been really happy with that and, you know, really put a lot of effort into building a great fan experience with that. But again, like, you know, there's this constant issue of fragmentation, you know, making it hard for fans to know where to go to where to watch their favorite teams. So I think that's still something a lot of sports fans are dealing with.

[Michael Barr]

And Hannah and Damian. That's just what I was gonna say. Because as Geezer Bar, I mean, it used to be very simple. You had three blasted channels, and if you had the fancy house, you got the uhf and then you could tune in to anything you want. You had a myriad. Now I don't know where the heck to go if I want to see my local teams or anything.

[Damian Sassauer]

Well, can't you just stream it directly from MLB now? I mean, and get them all? Or is that not an option? Because I know you're right. Michael Barr. In addition to Netflix, NBC, espn, you also have tnt. I think they have some games. I think Fox has some games. So, yeah, as a consumer, where do you go? Right.

[Hannah Miller]

Yeah, it can make it easier, you know, if there's that strong regional network. Like, you know, I'm a Yankees fan, so I love. Yes. And, you know, you know where to go with MLB tv. We've seen with some of these regional sports networks a lot of struggles, and MLB TV kind of absorbed the rights for several teams or six overall to kind of say, hey, here's where you can go to watch. So I don't know if we'll see more of that happening. There's still a big issue with regional sports networks trying to be profitable, avoid bankruptcy, things like that.

[Damian Sassauer]

This is a three year contract. Yes. We're still looking at 2028 and a whole nother round coming through then. Is that right?

[Hannah Miller]

That is right. So Commissioner Manfred, his big goal here was to get all of the rights to kind of expire at the same time. Fox their contract expires through the 2028, at the end of the 2028 season. So he's getting all these rights together so that they all go up at the same time and then this will start another cycle of negotiations. But yeah, that was his goal here, was that everyone to be aligned in that three year window and so that they can kind of consolidate and get as big a package as possible three years out.

[Michael Barr]

And speaking of Commissioner Manfred, he says that he will cooperate with a Senate committee and it involves the latest on the big betting prop scandal that involves two Cleveland guardian pitchers. Can you expand more on that?

[Hannah Miller]

Yeah. So we know Manfred said the other day that he doesn't foresee more restrictions on these prop bets, these one off bets. There's that $200 cap on the bets. They're hoping that cuts into people's desire to place these kinds of bets and also for players like pitchers to not manipulate the situation to their favor. If you make the bets smaller, people are going to be less interested. I think they're hoping this clears the clouds away, but these betting scandals, it's like hitting every sport well.

[Damian Sassauer]

I mean, you're right to bring it up though. Michael Barr. I mean, we just had an incredible fall classic. I mean, the numbers I'm hearing out of that Dodgers Blue Jays series are lights out. Right. And you know, this definitely, this betting scandal with Kase and Ortiz definitely takes some shine off that. You know, I just wonder what comes next. You know, we had the winter meetings, I mean we have the GM meetings and all that stuff coming up. You know, what comes next as it relates to not just the betting scandal and how the Major League Baseball is going to react to that, Hannah. But some of these new rules that are coming in, the automated strike ball kind of, all that kind of stuff is happening as well now.

[Hannah Miller]

Yeah, no, it's going to be really interesting to see what these conversations come up with because I think there is a lot of concern among fans of any kind of sport just this encroachment of betting. And we've Seen with these new, you know, streaming services. Like, you know, example, NBA on Peacock, NBA on Amazon. Like, there's all these betting integrations that really kind of are in your face about connecting betting to sports in a way that we haven't seen previously. So I think this is just going to be a conversation that comes up again and again and again.

[Michael Barr]

It's not just baseball. There are other leagues as well. We've had problems with the NBA as a general question, do we have a problem now with online betting in general? Because also overseas they're having problems?

[Hannah Miller]

Yeah, no. I mean, I think betting is just becoming more and more pervasive. We've also seen the rise of prediction markets and people getting on platforms like Kalshi, things like that that make it really easy to place bets and gamble. Obviously there has always been a gambling culture in sports, but I think it's just much more in your face now. I don't know, I just see gambling ads all the time. You know, I see it. You know, ESPN had had betting integrations with their platform. Like, this is just something that has come up again and again now.

[Damian Sassauer]

Well, Hannah, you know, we convinced you to come in today and talk about Major League Baseball, but I wonder if we could look out a little bit. I mean, because, I mean, things are going to. I mean, there's a lot of media deals that are, you know, people are preparing to negotiate. Right. Like what comes next in your world? Like, what are you looking toward? I mean, I know we just got F1, you know, we just got UFC. You know, what comes next.

[Hannah Miller]

Yeah, so Premier League is definitely something I'm tracking and you know, we're going to see like who, who, who gets the rights there. I mean, obviously it's super popular, so I think I'll be happy now.

[Damian Sassauer]

I, I think NHL is 28.

[Joey Levy]

Right.

[Damian Sassauer]

Which is a little bit of time.

[Hannah Miller]

Yeah, yeah. And yeah, no UFC too. I mean, that was huge when that came out. That $7.7 billion price tag is insane.

[Damian Sassauer]

Yeah, yeah. And I mean, obviously NASCAR as well.

[Michael Barr]

Right?

[Damian Sassauer]

But I think we have time. I think NASCAR, we just got negotiated out till 31. But you know, it's just very interesting, you know, Hannah, I mean, like all these media deals seem to be. I remember the year it used to be 10 year deals, you know, 15 year deal. Now we're talking two, three year deals. It just seems really, really competitive. Really, really interesting. And you know, we look at the economy and we look at the state of the economy and if, if things kind of slide back here. I wonder if, you know, these one after the other, record breaking deal after record breaking deal, you know, start to peter off a bit. I don't know, what are your thoughts there?

[Hannah Miller]

Okay. It's also never too early to start thinking about NFL and whether that early.

[Joey Levy]

Definitely going to like you for.

[Hannah Miller]

So, you know that that is going to be a huge game changer, I think, in sports rights. And that's going to really set a tone because they're looking at that NBA deal, that massive 11 year deal, and they're like, okay, we got way more eyeballs, we got way more people watching us and they're gonna take that and run with it, you know. So I think for the NFL, like, it's gonna be, it'll be really interesting to see what happens. It's gonna be big, big money.

[Michael Barr]

I have to ask this because you brought up the UFC CEO Dana White. He wants to have a $30 million challenge against the casinos and he says, look, we're gonna air this on Netflix. You give me $30 million in credit and I can beat the pants off of you. Comments, please.

[Hannah Miller]

Okay. I was at the UFC match on Saturday, last Saturday, and it was awesome. It was a lot of fun. And yeah, for Dana White, I mean, he knows he has a really valuable property. He knows people are tuning in. I think for him, he's very confident and what he has, the property he has. And that, that Paramount deal is just an affirmation of that.

[Michael Barr]

Our thanks to Bloomberg News media reporter Hannah Miller for joining us. Up next, we turn to the sprawling world of sports betting with the founder and CEO of a gaming and sports media company, Better for Damien Sass Hour. I'm Michael Barr. You are listening to the Bloomberg Business of sports from Bloomberg Radio. Around. The FIFA World Cup 26 is coming to North America next summer. It's the ultimate celebration of sports and culture and an opportunity to elevate your company. Get closer to where business meets the beautiful game with a premium hospitality package. And build partnerships in the best seats and suites. Achieve goals over world class food and beverage. Get closer to wins on and off the pitch. Register [e-mail] Interest this is Tom Keene.

[Tom Keene]

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[Damian Sassauer]

This is Bloomberg Business of Sports from Bloomberg Radio.

[Michael Barr]

This is the Bloomberg Business of Sports where we explore the big money issues in the world of sports. I'm Michael Barr.

[Vanessa Perdomo]

And I'm Vanessa Perdomo.

[Michael Barr]

Damien Sassauer will be back later in the show. Better is a sports gaming company that is building what it says is the world's first real money gaming super app. To tell us more about the company and for a check in how the sports gaming industry is navigating some of the latest headlines surrounding sports betting is Better founder and CEO Joey Levy. Joey, welcome to the Bloomberg Business of sports.

[Joey Levy]

Yeah, good, good to be here. Thanks for having me, guys.

[Michael Barr]

Now you are the founder and CEO of Better and it is one of the gambling platforms that has made its debut. What is different though with Better compared to other gambling platforms?

[Joey Levy]

Yeah, I'd say Better is the first company in the space that's really pursuing a super app strategy across different real money gaming verticals. So we started the company about three years ago. We launched our initial product Better Picks only about two years ago. So, so we're a pretty new company in the space. And as I said, we started with Better Picks, but, but since then we've launched a couple of additional products. So we launched Better Arcade about two and a half months ago. Now this is a skill games product where our customers are playing fun mobile games against each other and you know, whoever has the highest score in the game wins, wins the stake that, that each of the customers puts up. And then we've also launched a social sportsbook that that's currently live in 28 states, providing a pretty robust sportsbook experience for, for sports fans across the country. And all three of these products, Better Picks, Better Social Sportsbook, Better Arcade, they're all in the same app. So unlike some of our competitors that have a portfolio of different apps where some major brands have as many as seven different apps that require different KYC and identity verification processes and have different wallets, we have everything consolidated in one app and a really seamless user Experience going from one product to the next. And we don't plan on stopping at three products. Right? We're, we're, we're, we, we're going to launch at least two additional products over the next couple of quarters here. We haven't, you know, publicly announced what those products will be, but you know, we're really excited about that. And you know, by next NFL season we'll have at least five distinct products all within the Better super app, providing a really seamless experience for, for, for sports fans and gamers to go from one product to the next. And then I'd say another area of differentiation is, you know, our brand identity is, I'd say a lot younger and fresher than some of the other companies in the category. You know, where we really do well with you know, Gen Z and, and kind of that 18 to 30 year old, you know, cohorts, as you probably know, started the business with Jake Paul who you know, really does a great job of appealing to that demographic and has a massive audience in that demographic with over 70 million social media followers, you know, across Instagram, YouTube, TikTok, etc. So I think in this category where you know, you have these land based casino operators that maybe appeal to millennials and older, older and even FanDuel and DraftKings who are obviously the category leaders but still maybe appeal to consumers in, you know, their mid-30s to late-40s and beyond, I think we do a good job of really catering to the next generation of sports fans through a lot of the content that we create on social media. Better is actually the most followed sports gaming brand on social media right now. And that's really enabled us to just, you know, appeal to a pretty differentiated player demographic. So I'd say those two things, the super app strategy with a really seamless user experience across this one stop shop for gaming and a differentiated player demographic and brand identity with, with the younger, you know, the next generation of sports fans, if you will.

[Vanessa Perdomo]

I want to get more into that part of it that you said there, the younger demographic and leaning on Jake Paul, your co founder, you had mentioned his ability to speak to that generation. And when you guys were looking to found this company and you're looking to build it, how much of you know, his vision was in that and how much did you want to lean on this new audience and making it different and how do you do that knowing there's already these legacy platforms out there?

[Joey Levy]

Yeah, I mean, I think, you know, you just said it right. These are legacy platforms. You know, I Don't, not necessarily want to call out competitors by name, but you know, there's some land based casino operators that, you know, typically appeal to customers in their 50s, 60s, 70s, playing slots in Las Vegas who aren't really even digitally native companies to begin with that were kind of assumed to be, you know, the category leaders when, when this market opened up. And as you can imagine, their brands and their content strategies on social media and across paid performance marketing channels, it just doesn't really, they're not really positioned to appeal to that next generation of sports fans who, you know, grew up on Instagram, grew up on TikTok, and you know, to some extent even FanDuel and DraftKings, you know, I think they do a better job than some of these land based casino operators. But you know, they kind of, you know, got their start in the early 2010s with that hardcore fantasy sports audience. And you know, this was before Instagram was super mainstream. It's before TikTok was even existed. Right. So I think there's just, we saw a pretty massive opportunity to build a differentiated brand from the ground up that really catered to this new generation of sports fans that has grown up with Instagram, has grown up on TikTok, that's grown up, you know, watching YouTube videos instead of, you know, linear television. So, so yeah, we've had a lot of success there and we think better despite, you know, launching our product only two years ago, has established itself as the real money gaming brand for this generation.

[Vanessa Perdomo]

The interesting thing there too, when you're talking about building out and appealing to that audience, is you just recently partnered with the Ball brothers and have a podcast with them. But that their podcast, from what I understand that just recently launched, is not necessarily about sports gambling and it's not about, you know, that sort of thing. So why have that extension as well on your platform?

[Joey Levy]

Yeah, I think we're trying to build not just like an on the nose sports gaming brand or even just an on the nose real money gaming brand. I mean, to be clear, like we are a real money gaming company and you know, distributing that product and acquiring customers and retaining customers for that product is our principal objective. But we think there's an opportunity to build, you know, more of a more of a culturally relevant lifestyle brand that, you know, is kind of, it transcends the current industry. I mean, like at a super high level. I think FanDuel and DraftKings have a combined roughly 10 million or so monthly active users, yet they're currently legal.

[Damian Sassauer]

In.

[Joey Levy]

Front of at least over 100 million gambling age sports fans and as the market matures and goes nationwide will be closer to 180 million, 200 million. So my point is there's a pretty massive incremental TAM opportunity here and I think that requires you to try to build a brand that transcends the current market and is just more culturally relevant and just is kind of synonymous with just entertainment and having fun with your friends watching sports and just get people to resonate with the better brand along those lines and chances are they'll realize. And by the way, we offer this amazing real money gaming super app and Here's a free $10 to give it a try. And, and so far that strategy has been highly successful for us. I'd say we're almost certainly the most efficient company in the category with respect to acquiring customers. Our customer acquisition cost this NFL season so far per first time depositor has been only $50, which is likely an order of magnitude more efficient than competitors. So the strategy has been working so far and, and we're going to keep doubling and tripling down on it.

[Michael Barr]

By the way, the, the name of the podcast with the Ball brothers, Ball in the family. That, that, that's clever. I like like that boy, the way LiAngelo played. See what I did there?

[Vanessa Perdomo]

Yeah, I saw that, I saw that.

[Joey Levy]

Thank you.

[Michael Barr]

Joey. Where do you see the entire landscape of the industry for betting online? Where do you see that going in the future? I bring that up because unfortunately mlb, they're going through a period right now where they have lowered the prop bets for baseball because MLB asked them to because two Cleveland guardian players were arrested. Where do you see that going in terms of the industry?

[Joey Levy]

Yeah, I'd say so a couple of things. First, on that last point, I think that, you know, while there's been some disappointing, you know, developments or scandals, if you will, you know, whether it be with the, you know, guardians, pitchers in Major League Baseball or, you know, what happened with, you know, that with the NBA players and coaches a couple of weeks ago. I think these developments are actually a really good reminder of why it's so important for gaming to be regulated and kind of above board and with a spotlight on it. Right. Because if the market were not regulated or if companies like, you know, better Vandal or draftkings weren't working with integrity monitoring services and the data companies, these scandals would have never come to light. Right. So, you know, it's kind of this cooperation between the operators and, and the leagues and law enforcement that you, you have that, that we kind of catch bad actors in the first place. And you know, if this, if this wasn't in the light, I, you know, it's very possible that this stuff would be happening anyway and we just wouldn't know about it. Right. So I just do want to clarify that this, while it's super unfortunate what's happened here, it's, you're going to have bad actors regardless, unfortunately. So if anything, this is just proving that the current structure is working. So that's what I'll say about that. In terms of where I see the market going in the future.

[Michael Barr]

I don't.

[Joey Levy]

Think there's ever been a more exciting time to be building in real money gaming right now.

[Michael Barr]

Joey, you are too kind to join us. Thank you so much for joining us here on the Bloomberg Business of Sports. We really do appreciate your input. Thank you.

[Joey Levy]

Yeah, absolutely. Thanks for having me.

[Michael Barr]

Our thanks to Joey Levy for joining us. He is the founder and CEO of Better. Up next we turn to golf. I said golf because Damian loves that. And we'll talk with three time major winner Jordan Spieth for Vanessa Perdomo. I'm Michael Barr. You are listening to the Bloomberg Business of Sports from Bloomberg Radio around the world.

[Damian Sassauer]

Alex I'm Alex Rodriguez.

[Hannah Miller]

And I'm Jason Kelly. And we're back with more episodes of.

[Damian Sassauer]

Our show the Deal.

[Jordan Spieth]

We've got behind the scenes conversations with sports greatest business people and athletes from.

[Hannah Miller]

Serena Williams and Stephen A. Smith to Bill Belichick and Melody Hobson. I got dangerous in seeing up arrows. Up arrows. Catch up on the interviews you've missed.

[Jordan Spieth]

And listen to all new episodes every.

[Hannah Miller]

Thursday on Apple Podcasts, Spotify, YouTube or wherever you get your podcasts.

[Damian Sassauer]

This is Bloomberg Business of Sports from Bloomberg Radio.

[Michael Barr]

Thanks for joining us on the Bloomberg Business of Sports. We explore the big money issues in the world of sports. I'm Michael Barr.

[Damian Sassauer]

And I'm Damian Sass.

[Michael Barr]

Our joining us now is golf star and three time major winner Jordan Spieth. His foundation, the Jordan Spieth family Foundation recently held its second annual Crush it Up, a youth golf charity event. Jordan, welcome to the Bloomberg Business of sports.

[Jordan Spieth]

Thank y'.

[Hannah Miller]

All.

[Jordan Spieth]

Thanks for having me on.

[Michael Barr]

I want to highlight the second annual one of the Crush it cup and it's a youth golf charity event put on by your foundation. Bless you for doing all of this. Tell us more about it.

[Jordan Spieth]

Well, it's with my partnership with invited clubs and it's our second year now and it's pretty cool because yeah, it's, it's not only A, you know, a golf tournament. But if everyone who's here, they're here because they raised a significant amount of money, a lot of which is, you know, going to support our foundation, which will go back back into junior golf. So, anyway, it's like I said, it's the second year we've got 40 golfers out of 113 participants. It was over 18 states and 57 different clubs this year. So out of the 40 of 36, the top 36 fundraisers, and then we got the top two played the most holes and then two special nominees. So it's. It's amazing. Last year, you know, was the first year of it, I was in a cast, so I wasn't able to really partake a whole bunch as far as, like, playing holes, doing the clinic, like, all that kind of stuff. But I'm excited to kind of be a little bit more active with the kids, which would be super special. You know, we've done both of them here in the DFW area where I live live. And it's been a special partnership, and I really appreciate invited using their platform to help kind of, you know, tap back into our foundation. And the fall's a really fun time for us to be more at home where we can do things like this and get more involved within, you know, our charitable work here, here.

[Vanessa Perdomo]

And when you're looking at this year, like you said, being able to get out there with the golfers and really interact in a way that you weren't able to last year, playing with them, tell us more about how you being there is super beneficial because it's. It's not just them having the experience on the course, but it's lessons and it's all of the different experiences, more skills and having you there. How does that feel, connecting with them on that level?

[Jordan Spieth]

Well, they're all amazing players in their own rights, and they come from, like I said, you know, 18 different. 18 different states. They're. They're from, you know, the corners of the country. And I remember that from last year, I think, where I. It's. It's great. You know, they all know what they're doing. So as far as the golf stuff goes, there's, you know, everybody's kind of got their. They're great players. But it's funny because they're never short on questions, and it doesn't necessarily have anything to do with golf. Sometimes it does, sometimes it doesn't. It's, you know. You know, I'll probably get asked about Happy Gilmore. I'll probably get asked about, you know, if you've ever, if I've ever been to, you know, someplace around where they live, something like that. It's just, they're kids and it's fun to be a kid for a day. And I was, I was with them every step of the way last year, but I wasn't able to hit any shots. So they're getting better, younger and younger.

[Michael Barr]

I was going to ask you about Happy Gilmore, but I changed my mind.

[Damian Sassauer]

You know, Michael Barr. Michael Barr knows this. Jordan, I am, I'm sort of a super fan. I feel like you and I could be really close friends someday. But, you know, what really impresses me about you is, you know, your younger sister Ellie, my daughter Emma, they're cut from the same cloth. You know what I mean by that? And, you know, all you've done for special needs, for children, I mean, you have three young children now, I believe Sammy, Sophie and Sully all were the first and go figures. Sully, speed. Right. Jordan, talk to us a little bit about the impact Ellie's had on your career, on your life, on your family and on your young children.

[Jordan Spieth]

Well, I think first and foremost, perspective, especially in kind of the bubble of being a professional athlete or even just growing up along that path, right. Is just perspective on really where, you know, what, what's really important in life. Right. And family first. It just, it's just a, a daily reminder of what a lot of families are. And as you mentioned, I mean, my little sister has special needs, so she's seven years younger than me. So my brother's 18 months younger than me. So we, we were kind of very much bigger older brothers that, you know, at times you're taking parental roles in that because you're our sister, you know, stayed young for a long time as kids with special needs do. So I think it's certainly helped as a parent, you know, your patience level, stuff like that that I don't have outside of being a parent. But you have to. And, you know, but I think perspective is probably the, you know, the number one key and then, and then recognizing that when you do have a platform, it is important whether you're an introvert or an extrovert, it's important to recognize that it can make a difference. And I think I was told that, that, you know, I was brought up that way and then between those that I've worked with, I've been told that how important that is. And it's been super fun to, you know, to be what, 12 years into 11 years into a foundation now and, and all that we've been able to do with it. So, yeah, as you mentioned, it's for golf. It's, you know, you get out there and it, I'd like to say it, you know, it makes a huge difference. To be fair, you know, I'm a competitor and I get out there and it's oftentimes, you know, you're just in your own. You're in your own space. But the second you get off the course, it makes a huge difference. Just recognizing what really is important in life.

[Damian Sassauer]

Well, Jordan, I mean, look, I'm 51 years old, so as a parent, and I have an older son who's 21, my middle 17. So, you know, I mean, your parents, Chris, you know, I mean, everything you've done, the impact that, you know, you've probably had on them, just being able to live with it, learn from it, evolve from it, is unbelievable. So you're my hero. But just talk about Tony Roma for one minute. I mean, you know, you keep beating up on Tony Ro. I mean, like, the poor guy. I mean, you could see it on tv. Michael Barr, his eyes, he just looks beaten. Beaten down. Brookhaven Country Club, Dallas, Texas. Tell us a little bit about what's going on down there.

[Jordan Spieth]

Well, we, yeah, we do play with Tony quite a bit. I will say, between myself and, and, and Scotty Scheffler, he's. He's certainly. Well, he's, he's, he's working hard.

[Hannah Miller]

But.

[Jordan Spieth]

He'S a really good player. It's fun games, been playing for years now. And he's healthy, healthier than he was in the NFL. You know, he's kind of. It's maybe a little bit easier on his body, but, yeah, he's a, He's a great player. And if you see some wear and tear, probably was a rough week on the course, if he looks a little. If it looks that way on Sunday, but, yeah, down here. So I grew up. You know, what's interesting about this event? You know, invited. My, as I mentioned, my partnership with invited, but I grew up at an invited club at Brookhaven Country Club, like you just mentioned, and that's where I learned the game. So it's kind of. It was almost like it was always. We were always going to try to figure out a way to work together, and finally we did. And it's kind of cool to. To do it this way, where you're bringing people in from, you know, invited clubs, clubs where it's, it's. They're trying to Be more inclusive while still being top notch opportunities for kids to learn to play the game and then to do it in a, teach them kind of charitable work within everything else that they got that golf in general, all the great attributes of learning the game of golf with integrity and sportsmanship, that kind of stuff where you're, you're on your own and, and you've got a, you take things into your own hands to kind of throw that charitable side into it. I mean, these, these, these golfers played 15,000 holes raising $118,000 just through this, this initiative. So to bring them in here and try to, I mean, try to help them have just a phenomenal day. We've got 83 degree weather in November here in Dallas. And so it's set up to be a fantastic event again.

[Michael Barr]

2015, you were 21 years old and you had the season of your life. You won five times, including the Masters and the US Open. Can you take us back to that portal 10 years ago and what that.

[Jordan Spieth]

Season was like, it was almost like ignorance is bliss in a way, I guess. But also, you know, you look at these other sports and guys come out their rookie year and it's like their third year, especially like the NBA, right? They wait for that third year. Well, that was my third year, so I, I kind of got my feet wet rookie year. I had a chance knocked on the door. My second year had a chance to win the Masters and the players and just barely fell short. And you just kind of learn from those experiences and you're still kind of, you know, you're. All I was doing was golf. Waking up, golfing, going to bed and, and so then I, I came out and yeah, let it run that year for sure. I had had some nice momentum going into the Masters and then obviously that was, that was kind of the big, the big opening there where everything kind of took off from there. So I'd won, I'd won earlier in the season. Then I came on, on two back to back runner ups and then went and, you know, took the lead the first round and, and kept the lead the entire way. So that was a special week. And then, yeah, wrote it into the US Open. And from there it almost seemed like everything was a little bit easier. It's kind of getting over that first tomorrow bump and at the Masters and it was, it was a special season for sure and feeling like, you know, I've got opportunities to go on runs like that again. And I'm at 30, 32 now, but 10 years removed from that season. But, you know, 32 is still kind of right in the middle for golf. So I feel as much as I like taking a trip back down memory lane, I'm certainly proud of everything that happened. I'm pretty fire to try to try to, you know, touch that level again.

[Vanessa Perdomo]

Jordan, I have to ask, you know, golf has obviously been plagued by this discussion between PGA and live for the last few years and at some point look like there would be resolve, but that hasn't happened yet. Do you still think that's something that is going to happen or is it just seems like everyone's happy running with their own entity as it is right now?

[Jordan Spieth]

Seems like both. I mean, everyone's kind of running at their own pace. It looked like at some point that 2026 was going to start back to some form of a unification of it. And turns out, I guess I'm not as involved as I was. And happily so right now I'm glad that I was involved for a little while. And I think we have. I can only speak to the PGA Tour side of things, but between the investors, our new CEO, the players, the schedule, last year was a really, really good year for us. 2025 is a really good year for the PGA Tour. And so I think you focus on trying to make the best product that the PGA Tour can have. And then however else it's gonna, you know, fall, it's gonna fall. So we can't really control what's going on. You know, on the live side, it seems like they're happy with where they're at, but at some point, you know, they've showed interest in combining the game. So do you think a unification would.

[Vanessa Perdomo]

Be helpful for the sport?

[Jordan Spieth]

I mean, it seems that way when you. Yeah, I think. I think absolutely. But under the correct terms, under the right. Under the right way to. To bring it back together, because it wasn't that long ago it was right, so.

[Michael Barr]

Well, I have never seen Damian come in the studio early. And when they said that we're going to talk to George Jordan Speed, Damian was like, oh, let me get my shoes. It's like, come on in.

[Damian Sassauer]

Don't be fooled, Jordan. I come in early for 50% of the time. Our thanks to Jordan Spieth for taking the time for us.

[Michael Barr]

And that does it for this edition of the Bloomberg Business of Sports for my colleagues Damian Sassauer and Vanessa Perdomo. I'm Michael Barr.

[Damian Sassauer]

Tune in again next week for the latest on the stories moving big money in the world of sports sports. And don't forget to catch our podcast on all your podcast platforms.

[Jordan Spieth]

Yeah.

[Michael Barr]

You're listening to the Bloomberg Business of Sports from Bloomberg Radio around the world.