Anna Helhoski

So let's look at something a little bit more specific in this case.

So as of this recording, the Seahawks are at 68 cents, which means that the market thinks Seahawks have a 68% chance of winning.

If you buy a yes contract at 68 cents and the Seahawks win, you get a dollar, which would be a 32 cent profit.

Meanwhile, the Patriots are at 33 cents, and that means that the market thinks they have a 33% chance of winning.

If you buy a yes contract at $0.33 and they win, you pocket $0.67.

It's fun.

It's potentially profitable.

But as with all betting, the losses are still very real.

Yeah, there has.

You're seeing these commercials for things like DraftKings everywhere.

It's become ubiquitous.

None of this existed at scale five years ago.

And I think it's sometimes difficult when we just see things all the time that you forget how quickly they change.

App betting has just become normalized.

And prediction markets have also exploded in both volume and visibility.

So last year, following the Super Bowl, DraftKings reported that it set a new record for the amount that customers spent betting with them at $436 million.

Yeah.

On a single game on a single day.

Now, the American Gaming Association expects that roughly $1.76 billion will be legally bet on the Super Bowl 60 in the U.S.

That's a 27% year-over-year increase and a record number.