← The Herd with Colin Cowherd
The Herd with Colin Cowherd
Colin Cowherd Podcast - NBA Gambling Scandal Reaction: Future of sports betting
00:15:06
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This is an iHeart podcast.
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This podcast is sponsored by PayPal. Okay, let's talk holiday shopping. When you want to make the most of your Money, head to PayPal's app before you check out. They give you the flexibility to pay in four no fees, no interest. And this is big. Bigger than the 12 foot snowman on your lawn right now. You can get 5% cash back when you pay later with PayPal. So whether it's the must have merch or for that signed jersey you've been eyeing, PayPal helps you make the most of your money this holiday. Save this offer in the PayPal app expires 1231 see paypal.com promoterms subject to approval. Learn more at paypal.com payin4paypal inc.nmls910457 if.
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Today's episode brought to you by a scent that's made a legendary comeback. Degree Original Cool Rush the OG is back and better than ever. Cool Rush is isn't just a scent, it's a movement kind of fragrance. Guys remember, ask for by name and rave about online. It's bold. It's fresh all day. Sweat protection, Cool, crisp vibe that made it legendary. So whether you're heading to the gym, the office, or just trying to stay fresh all day long, Cool Rush has your back.
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So if you haven't tried it yet.
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Head to your local Walmart. Grab degree Cool Rush the fan favorite scent from the world's number one antiperspirant brand. The Volume. Now it's time for this week's redeemed team member brought to you by Hulu's Chad Powers. This week it's Devonte Adams. Three touchdowns in London. Rams crush the Jacksonville Jaguars. Adams became the second player to have three touchdowns in an international game. He and Stafford were dialed in. Chad Powers is now streaming new episodes Tuesday on Hulu and Hulu on Disney plus for bundle subscribers. Terms apply. Hi, everybody. It's Saturday. I don't do a ton of Saturday reactions on my YouTube page for the volume. I already settled in watching some college football. Got a good workout in. Like many of you gonna go walk the dogs here pretty quick. But I did think it was a really interesting week with the story of Terry Rozier, Damon Jones, the betting scandal in the NBA, and Chauncey Billups, who I mean, I've known so many people that have covered him, liked him, respected him. But you have to look at people based on actions, not ideals or not necessarily what you think they are. Ultimately, people eventually show you who they are with their actions in their personal life or their professional life. But I think it's. I wanted to talk about this. So I. I've been doing sports talk radio and media for a long time, plus 30 years. And it all started in Las Vegas. Then I went to Tampa, then I went to Portland, then I went to espn, then I went to Fox. I've got great relationships, but I've been around a long time. And anybody that listened to me, gosh, back in Portland, knows that I've always been for basically. I mean, long before Barack Obama, I was pro cannabis. I've always been pretty socially liberal on that stuff. And I think anybody who's intellectually honest would say I've been pro gambling forever. I believe in legalizing things and then monitoring them and having total transparency in rural counties. When I worked in Nevada, prostitution was, and I think still is legal in some rural counties in Nevada. I would propose that's safer than unregulated prostitution, which we know is happening in America. So I'm for legalizing virtually everything. And so then sports gambling was legalized in America. And I have had three separate deals with three companies currently. Hard Rock Bet. They've been great partners. This is not something I pivoted to. I always put my arms around disruptors from investing. I think I'm a little bit entrepreneurial. I believe that even if there's a stigma or a dark side to industries, they're much better served being regulated and monitored. Monitored. So sports gambling is something that I was pretty familiar with because my first job out of college, I got a job in Las Vegas, and there were bad actors but the people that I knew that worked at the Las Vegas Hilton, Art Manteris, I knew a little bit. Roxy Roxborough, these were professionals, they were educated. They were really good human beings. And it was an industry. And they used to always sort of. And I didn't know Roxy very well, but he was kind of a legend in the business. The people that I knew that were professional gamblers, the late Lem bank, they understood the downside to it. They had bad streaks, but they liked the legality and the regulation and the monitoring of it. The margins aren't that big anymore. The audience, you are too sophisticated. It's hard to win. I always thought it was much easier to win betting the NFL than it is now because you, the consumer are much smarter, you have more information. But I have always been proud gambling. And so. But what's interesting about society is that we understand even with pharmaceuticals, take pharmaceuticals that are monitored in manufacturing and post approval by the FDA Food and Drug Administration, you can watch a commercial for a medication and it will say side effects include severe migraine headaches and bleeding of the bowels. And yet it's approved. Heart murmurs and your tongue will fall out. But it's approved by the FDA because there is viewed as a benefit to the drug. And they will warn you about it. They'll be messaging on the bottle or the casing. We understand that one of the knocks on sports gambling has been, well, whenever there's an incident. And again, we understand the vagaries and there are losers in. I mean people died initially when Viagra came out, you know, swallowed 12 blue diamond shaped pills. We understand that and we accept it with pharmaceuticals, we accept it with alcohol. We know there's binge drinking, we know there's drunk drivers. We don't shut down bars over it. We don't stop alcohol sales. If there's insider trading, we don't shut down Wall Street. But it is interesting because when gambling and when you get a moment like Terry Rozier or Tim Donaghy, now Donaghy was pre approved gambling, legalized gambling. And so once the Supreme Court ruled in favor of legalized gambling, it started spreading across the country. And the knock on gambling has been, well, there's no societal benefit. Well, there's an economic benefit. Take venture capitalism. Vc. Do you know the nickname for venture capitalism? Because I could argue what's the societal benefit of venture capitalism? Its nickname is vulture capitalism. The societal benefit is the economy, that it can create companies and add jet fuel to companies that drive economies. States welcome in VC companies All the time create jobs, sort of like sports gambling. Fanduel, draftkings, price picks or Hard Rock Bet. They employ tens of thousands of people. That's why once it was legalized, the rollout throughout America was very quick and very, very understood to be an economic driver in jurisdiction, states, counties. Not as much as many believe, sometimes more. But there is a economic benefit. And with venture capitalism or alcohol or legalized cannabis and sports gambling, there's winners and some losers. But I have, as the story broke in the NBA, again, I didn't pivot to this position. This has always been my position from the first days of doing local sports talk radio in Portland, Oregon, which is legalize stuff. Then it can be monitored. Right. I hear people and I think it's a legitimate concern about prop bets. You know, in game betting, prop bets and some which suggest you can only bet the over, not the under. I mean, if a guy drops 50 and the over under was 24, good for the team, good for him. That's interesting, but you want it regulated because if you eliminate the legalization of prop bets in America, then it will go offshore. And that is dark. That's a pirate ship. That is completely unregulated and scary. I don't know people, but there's hundreds, thousands of stories of people who lost their butt offshore gambling. I want regulation, I want monitoring. And we bake all of that in with everything else. We bake it in with alcohol. What's the societal benefit of alcohol? Well, I mean, Napa drove some economy. It drives economy from distribution to consumption by consumer. It drives bars and wineries and distributors, and it can drive traffic into wine stores and grocery stores. Right. Every state is different with alcohol regulation, just like sports gambling. But there's viewed as sort of a social lubrication and economic benefit. I think with sports gambling, I've said before is, you know, you're sitting in a room with guys and you want some juice, you want some fun. I get it. I've been doing it since I moved.
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To Vegas out of college.
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It's fun. It adds something. I never bet much back then, 5 to 10 bucks, now 50 bucks. But it adds juice. It's fun in an afternoon sitting there. And that's why that competition, that energy, that juice is why you need constant monitoring in professional sports. Remember this? And I think most of you know this by now. Do you know who caught the Terry Rozier gambling fanduel within the hour notified the NBA. We've got a problem. Do you know who notified the NBA about Tim Donaghy? Vegas. The margins are thin for all these companies because of you. The consumer, that's more sophisticated. They don't want cheats or scoundrels or bad actors. That's not good for them. But I don't want sports gambling to go offshore. That's not good for you. That's not good for our domestic consumers. That's no good, as long as people are. To me, I don't think my position has changed forever. I have been pro stigma. They're going to exist. You're not going to shut down alcohol sales. You're not going to shut down cannabis. I grew up in Washington state. It was the state flower. I mean, who are we kidding? I mean, I grew up in the sticks. You could get bags of pot in the 70s or 80s. You think you're going to stop the use, just regulate it, have some transparencies and agencies that at least alert people to bad actions. I mean, Terry Rozier should know better. Chauncey Billups fooled a lot of people, allegedly. Damon Jones, what are you doing? You're connected to LeBron. What are you doing? And I know people that know all of these people, but I also know people that have gotten into a car and had too much to drink. And I'm not proud to say it, and I'm not happy about it, but we don't ban stuff. So I've always had this just sort of understanding. And I've said this for years and years. I'm not a moralist. I'm not. I can be critical of myself. I can be critical of others. I can be critical of athletes. I try to be fair. Baker Mayfield's good. I'm now very pro. Baker Mayfield, I didn't like him right out of college. Thought he was too cocky. But I'm trying to be fair about it. My position in life is largely people make mistakes. I mean, venture capitalism wasn't created because it's great for humanity. Vulture capitalism was created because it can often stimulate and benefit economies to some degree. That's sports. Gambling leagues are always looking for new models, new avenues. I mean, for years and years, the NBA supported the wnba, subsidized it, didn't make any money off it. They were hoping it would grow at a faster pace. Then Caitlin Clark arrives, and suddenly they're filling arenas, Right? But, you know, these professional leagues are always looking for better deals from networks. That's why streaming is such a powerful lever for the NFL and the NBA. They can go to networks like Fox and ABC and CBS and ESPN and say we want more, right? Here comes Netflix, here comes Amazon. We want more. It's a lever to increase the annual revenue, and I think sports gambling falls into that if you can add 2% revenue on contracts. I don't love. Everything about really appalls me that any fan would go up to any professional athlete and bag on him saying, hey, you lost me money. That makes me sick. That makes me sick. But insider trading makes me sick. And people getting into cars nine cocktails in makes me sick. And I can never quite figure out how the FDA approves a drug that makes my bowels bleed potentially or gives me migraines. But it's understood the benefit can outweigh the negative, the vagaries, the problems, the incidents, the disruption of society negatively. So I thought most of the coverage was excellent. By the way, you know, I kind of look at sports gambling and sports the way I look at politics. I don't trust the pundits or the politicians. I trust you. I trust the people. Political pundits are overwhelmingly left leaning. In my lifetime, the media is mostly left leaning. That's why Fox News had such an ascension forever, because they were the one place for a long time that was a conservative viewpoint. The liberals just left it wide open, and Rupert Murdoch took advantage of it. I always trust the people, even during elections. They like Trump. Trump was too much. They went to Sleepy Joe. We'll see at the midterms, Trump's very active, loud. There's a lot of stuff going on. Americans get uncomfortable with it at the midterms. They may be like, you know what, we want him to bring the temperature down. I've always trusted you. I don't trust traditional anything, but you clearly enjoy placing a $10 bet, and that's kind of the average. By the way, I've asked all these companies that I go into business with, what's the average bet? Shockingly, it's $4. $4 doesn't mean there's not going to be somebody that spins out of control. Absolutely. And there are people that can't regulate or modify their food consumption, their alcohol consumption, drug consumption. That's part of the freedoms and liberties that we all enjoy. You have a right to wreck your life, but overwhelmingly, most of you don't. We hear about the ones that do. I tell people all the time, my business, we talk about crash landings, not safe landings. That's not clickbait. That's what people are interested in. Right. There's no reason for me to go on the air if I work in the aviation industry. And I'm a reporter to talk about well, there's another safe landing in Orlando today. The 38th straight. It's 11:00am There's a crash once a year in Orlando. That's news. Safe landings aren't news. Crash landings are. And so the Terry Rozier story. It's rare. It's infrequent. It's sad. It sucks. I will always be on the side of transparency and regulation and FanDuel spotted that puppy in 15 minutes and Vegas spotted Tim Donaghy within 24 hours. That's the site I've always been on. It's the side I'm always going to be on. The volume.
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This podcast is sponsored by PayPal. Okay, let's talk holiday shopping. When you want to make the most of your Money, head to PayPal's app before you check out. They give you the flexibility to pay in four no fees, no interest. And this is big. Bigger than the 12 foot snowman on your lawn right now. You can get 5% cash back when you pay later with PayPal. So whether it's the must have merch or for that signed jersey you've been eyeing, PayPal helps you make the most of your money this holiday. Save this offer in the PayPal app expires 1231. See paypal.com promoterms Subject to approval. Learn more at paypal.com payin4paypal inc.nmls910457 there's.
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No championship league for small business owners, but if there was, you'd be at the top of the standings. Because going pro with Lenovo Pro means you've got the winning formation. One on one advice IT solutions and customized hardware powered by Intel Core Ultra processors help you stay ahead of the competition. Business goes pro with Lenovo Pro Sign up for free@lenovo.com Pro.
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Lenovo Today's episode brought to you by a scent that's made a legendary comeback.° Original Cool Rush the OG is back in better than ever. Cool Rush isn't just a scent. It's a movement kind of fragrance guys remember, ask for by name and rave about online. It's bold. It's fresh all day. Sweat protection, cool, crisp vibe that made it legendary. So whether you're heading to the gym, the office, or just trying to stay fresh all day long, Cool Rush has your back.
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So if you haven't tried it yet.
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Head to your local Walmart grab degree Cool Rush the fan favorite scent from the world's number one antiperspirant brand.
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This is Colin Coward from the Herd with Colin Coward, A wingman flies close with unwavering dedication. At Folds of Honor, a wingman stands with families of Americans, fallen or disabled, heroes. The burial flag given to their grieving family is folded 13 times. As a wingman, your $13 monthly donation provides scholarships to their spouses and children. 13 folds $13 Become a wingman. Join today at foldsofhonor.org this is an iHeart podcast.