Listen: Tigers, Illinois And Frank Ignatius discussed on Roe Conn
"Doors. He said is very responsible guy backgrounds and finance woman. Invest all of it. So, you know, William Hill in Las Vegas loss of her for them. Correct. Biggest. Because call for William Hill that they've ever in history golf betting. Yes. Well, it's just remarkable to see this because I guess that was quite a long shot. But with Tigers history. What were the odds on tiger? No, it's not so much that it was a long shot. It's just one of those terrible cases for the sports book where the most popular guy in the most popular event actually came in right? Yeah. Exactly. It just goes to show you that sports betting is not just the golden ticket for the house. There are certain scenarios like the Super Bowl this year where the popular team wins and the sports books loose. So Tigers always the most popular bet on the board. And because of his recent absence from the from winning majors just turned out to be a perfect storm. He was twelve to one. I believe right Frank. Tiger was and real if you look at his performance to that moment, he probably should have been twenty two one. But of course, if the money comes in people, sometimes don't understand this. This isn't the bookie saying, here's what we think they're saying here's how we're anticipating adjusting to the public, which is why one of the reasons the cubs. Usually don't have the greatest ads. Biggest because every Chicago Cubs fan who goes puts a hundred bucks in the cubs to win every year. Yeah. The cubs are the perfect example because it's just a perfect example of overvaluing team. We're just trying to balance risk and tiger just turn out to be the winner. And it was just one of those perfect storms against sports books. How much more active our betters and people that like sports gambling when he is a number that you can put on it. That shows how much tiger moves the needle. Because everything we're seeing today. Ratings Nike golf, apparel Bridgestone golf ball. Everybody's reporting that there's increase web traffic to their sites sales everything that tiger touches turns the goal when he's playing well lockers gonna call him and offer a little extra hair. How much more active are gamblers when tiger is in contention or playing, well, I think it MIR's the rating. So if the ratings are great for tiger and a major I think the sports betting handle is gonna follow that along. And I think what I would say is of those sports books a hit yesterday. I think in the long run they're going to be happy with yesterday because it opened up a whole new marketable to betting on golf who didn't realize you could. And they're gonna they're gonna read the story about eighty five thousand dollars at fourteen to one and they're going to see the different markets that are available in golf betting and realize, you know, now that the legalize market is expanding to more and more states that this is a great sport to Natalie watch, but the bet on so maybe in the long run sports books are going to like the fact that they took yesterday's loss because the added enthusiasm for the game betting on that game. It is it is actually a bookie friendly sport overall, as you know, Frank because we're talking about maybe fifty or sixty golfers and some of these major tournaments have a realistic chance of winning. So picking the favorite picking the winner. Out of that is tougher than the Kentucky Derby or just about anything can you speak a little bit though, we talked about tiger twelve one win the masters. What about the next what about the next major tournament? So his odds have already dropped the next major which is the PGA may and the US open in June, which is Pebble Beach where back in two thousand fifteen shots. Bethpage PJ is here. That's correct. So there's going to be a lot. I don't think the sports books are going to make them stay of having fourteen to one or twelve anymore. The with the added enthusiasm about tiger at that. You're going to see seven to one to one we saw in the late nineties and early two thousands. That's you know, again, look you could do it. But that's you know, you picking somebody golf turvy early getting six to one that's not a great VAT for the average wage, but they will care they want to put their money on tiger. What else can you bet on with within the we'll start with golf? What else can you bet on other than the winner of major tournament? I think what's so great about golf betting is perfect sport for live betting. Which means that you make during the course of their also there's so many six seven minute breaks in between shots that gives betters. Plenty of time to recalculate the eyes and get a new bet. So you can bet on what Tigers gonna make on each hole or what is front nine scores or back nine score. Or even the odds to win the tournament constantly update every every five minutes, or so I could just visualize so many if this thinks they know we're going to dive into an update, maybe, you know, on legalizing gambling, Illinois, which a lot of people are pushing for, but you could just picture how all this is going to play out if you're if you're at home, whether you're doing it on your phone or you had a bar, and maybe your casual golf fan, and you're watching with your buddies and all of a sudden Tigers contention in you can walk up to a kiosk and place. Few bucks on. ESPN eventually take phone in your hand and going your app. Outs. Grow betting when you can start betting. And this is a relatively new thing. We okay there's a game at halftime. There's new point spread. But this in progress stuff, right? Maybe can speak a little bit about this. We're going to get to a point where if you're in the left field stands at a socks game. Tim Anderson's at the plate. You're going to be able to bet on that at bat. Right. It's going to be as simple as sending text message. So just like the apps that we use for for all kinds of commerce, you're going to use for all kinds of sports bets and all kinds of different markets. So you don't have to be available at the beginning of the game. If you if you come into third inning or the seventh inning or later, there's always a market to bet on and that's in every sport. So I think that's going to be really interesting. I think the people who own professional teams are going to really like the people are going to hang around a little bit longer and the longer than the men's room at Wrigley field in the seventh inning or the beer line. At Soldier Field is going to be the key us as we talked about that. Able to do that. Quickly like that the revenue is going to be incredible. So where do we stand right now with the state of Illinois legalizing sports betting at least in the next years at possible stories zip put it at even fall in time for football season. Is that realistic? I know you can't predict what is in the minds of state lawmakers in heart says, he always say, but what do you what do you think realistic know, we're very encouraged this governor, I'm such a big fan of this guy because he's really pushing for us. And it seems like his influences having affect on lawmakers because they're a week or two away from presenting the final version of the Bill there's five versions out there right now, and which incurring about it is they're doing all the right things there, including full mobile. So that it's not something that just doing this in a casino racetrack. Okay. The tax rate for my tastes could be a little bit lower the key. Roughly, can you? Tell us a complicated structure like the tax code ours. As you can imagine is the second. Highest in the contracts every Vegas is six point seven five percent. New Jersey's eleven most states are ten were at twenty. So not quite as bad as Pennsylvania, governor likes it. He says two hundred. Right here, Frank. But listen, I tell you this all the time of written about this for for decades. Now, the only state lottery about fifty percent goes right off the top. When you're winning the three hundred million dollars three hundred billion dollars going to the state, no horse racing's, probably close to twenty percent. Maybe a sixteen percent handle. So you're paying for the privilege of doing it to me for the state of Illinois. There there'd be such hypocrisy in. There has been throughout the years. Alway can advertise for the lottery and every neighborhood and we want everybody to play the lottery. Hey, go bet on the ponies. Hey, and some bars you can play the slots, but oh my gosh betting on sports is the end of the society nonsense. In fact, it could be argued as you. If you go to bed, Chicago dot com. The more knowledge you have. Yes, you're taking risks. But there is skill involved as well it's coming out of the darkness. And I think the fact that other states are legalizing is a good warmup for us. And I think people are warming up to the idea that again, you're exactly right. Casinos are okay horses are. Okay. People are betting on sports. Anyway, let's legal and bring it in every state has legalized it. It's been a hidden state. Right everything. So far, yet New Jersey is the the most shining example, and what's incurring illinois's? We're following New Jersey model, it seems which is mobile and shorter using their law as a as a template for ours. So there are states like Mississippi who were not doing as well. Because they're not allowing for full mobile. You got to have that micro. And you know, very quickly to we talked a little bit. There was a gambling series on Showtime. We're to the point now where the Commissioner of the NBA is on the record talking about Russell Wilson is giving view talking about how cool digital fantasy sports betting. It's because people come up to you complete that pass. You know, so said so aptly inaccurately it's out of darkness into the light. It's America's true, national, pastime golf baseball basketball football. It's wagering sports. I've noticed it. Just just the fantasy sports that we do like, friends and family, whatever it makes you interested in games, you otherwise would never be interested in your like kind of getting involved in entertainment. That one. I mean, you know, getting it's it's a lot. It's a lot of the thing. The question I have for you. When I go to England in particular. There's you can bet on so many different things you could bet on what color Tigers gonna wear or better real time on the tennis tournaments each serve that Serena's doing that here missing it or is it coming. I mean, what's what's going on there? My favorite bet which few people have one recently is when your child is born you can bet on them to be the heavyweight champion of the world or play for a certain very mcelroy's father did that he said amazing British Open one day at five thousand one. Catch that amazing. That is crazy kids give. Yeah. Fun. You come back and talk to us as we consider continue to keep an eye on what's happening here in our state with sports gambling and beyond. We appreciate yours. Checking close almost there. I believe it. It does feel like it's really seemed to have all the stars align now with the governor and legislators seemingly having a very positive approach to it. Now. I mean, Illinois lawmakers are amongst the best in the world. I think we'd all agree on that. Right. And they're such a great job. So yeah, we're almost there. Governor gets it more than any governor. Jim Edgar in terms of understanding away dri. But if the state we do, so thank you so much. We appreciate thanks. Frank Ignatius, president founder of bed Chicago dot com. We're going to check what's happening. Are we checking bottom of the hour news with Kim, Gordon? French president Macron pledging to rebuild Notre Dame cathedral as a devastating fire continues to burn.."