Response 1 Instructions
Here, you will pick one of the Original Posts of another student from Discussion 1 or Discussion 2. I want to know your general thoughts about the podcast and then your opinion on whether you agree or disagree (and why) with the other student.
The same guidelines of respect and civility pertaining to the original posts will also apply here! Remember, we are all in the same boat together and the boat tips over when everyone is on the same side. A healthy and respectful disagreement can be very enlightening.
no. 388 the economics of sports Gambling
https://freakonomics.com/archive/
Sports gambling is a huge market where many people from around the world gamble their money on whether a specific sports team will win or lose. The Freakonomics podcast goes in-depth into the world of sports gambling from an economist's perspective to understand the inner workings of the venture. There are various sports gambling methods, but the main one mentioned in the podcast is fantasy sports. Fantasy sports is essentially a gambling method in which you become the coach of a team of players you get through a draft to then play against other people's teams with money on the line. Stephen j. Dubner, the host of this episode of Freakonomics, talks to one of the first fantasy sports players, Peter Gethers. Dubner talks to Gethers about that first season so long ago and what his expectations were for fantasy. After discussing how fantasy works and Gethers's expectations for fantasy, Dubner begins to explain the economic growth of fantasy which generates 8 billion dollars a year from the US alone. After talking to Gethers, Dubner begins talking to one of the founders of draft kings Jason Roberts, a website where you can play fantasy sports online. They start by discussing Robins's interest in sports as a kid, the introduction of the internet, and its impact on fantasy. After talking about Robins's past, they began discussing the political side of sports gambling in the US. They discussed the fact that as the states continue to legalize gambling, the black-market world of sports gambling will be brought to light resulting in substantial economic growth for betting websites like draft kings if they choose to not only continue fantasy sports but also start straight-up betting on sports games. After talking to Robin a bit more about the intricacies of draft kings, Dubner starts talking about how economists would bet by always choosing the team or player with the highest chance of winning and leaving little to luck.
