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Anna Helhoski

👤 Speaker
1779 total appearances

Appearances Over Time

Podcast Appearances

NerdWallet's Smart Money Podcast
Prediction Market Betting Hype and Self-Employment Taxes You Don’t Want to Miss

But they've become so popular that at any point, these apps are handling millions of transactions at once.

NerdWallet's Smart Money Podcast
Prediction Market Betting Hype and Self-Employment Taxes You Don’t Want to Miss

So there are a lot of different types of betting you can make at legal sportsbooks.

NerdWallet's Smart Money Podcast
Prediction Market Betting Hype and Self-Employment Taxes You Don’t Want to Miss

And I do want to say a couple of caveats.

NerdWallet's Smart Money Podcast
Prediction Market Betting Hype and Self-Employment Taxes You Don’t Want to Miss

So I don't have to repeat it every single time.

NerdWallet's Smart Money Podcast
Prediction Market Betting Hype and Self-Employment Taxes You Don’t Want to Miss

If you win in any of these cases, you're going to get the amount that you bet in return along with your winnings.

NerdWallet's Smart Money Podcast
Prediction Market Betting Hype and Self-Employment Taxes You Don’t Want to Miss

And then another one, betting lines and odds are always changing.

NerdWallet's Smart Money Podcast
Prediction Market Betting Hype and Self-Employment Taxes You Don’t Want to Miss

Remember those algorithms.

NerdWallet's Smart Money Podcast
Prediction Market Betting Hype and Self-Employment Taxes You Don’t Want to Miss

And sportsbooks will adjust them in real time.

NerdWallet's Smart Money Podcast
Prediction Market Betting Hype and Self-Employment Taxes You Don’t Want to Miss

So by the time that you're listening to this, the numbers that I'm quoting might be slightly different.

NerdWallet's Smart Money Podcast
Prediction Market Betting Hype and Self-Employment Taxes You Don’t Want to Miss

So if you go and check and they're not the same, don't get mad at me.

NerdWallet's Smart Money Podcast
Prediction Market Betting Hype and Self-Employment Taxes You Don’t Want to Miss

All right, so starting off, money lines are the simplest.

NerdWallet's Smart Money Podcast
Prediction Market Betting Hype and Self-Employment Taxes You Don’t Want to Miss

You're just going to pick who wins the game.

NerdWallet's Smart Money Podcast
Prediction Market Betting Hype and Self-Employment Taxes You Don’t Want to Miss

Now, DraftKings shows that for the Super Bowl, the Seahawks are the heavy favorite at minus 240.

NerdWallet's Smart Money Podcast
Prediction Market Betting Hype and Self-Employment Taxes You Don’t Want to Miss

And that means that you'd have to bet $240 to win $100.

NerdWallet's Smart Money Podcast
Prediction Market Betting Hype and Self-Employment Taxes You Don’t Want to Miss

Once again, you'd get your $240 back.

NerdWallet's Smart Money Podcast
Prediction Market Betting Hype and Self-Employment Taxes You Don’t Want to Miss

Now, the Patriots are the underdog at plus 195.

NerdWallet's Smart Money Podcast
Prediction Market Betting Hype and Self-Employment Taxes You Don’t Want to Miss

And that means if you made a $100 bet and the Pats upset, you'd win $195 and get your $100 back.

NerdWallet's Smart Money Podcast
Prediction Market Betting Hype and Self-Employment Taxes You Don’t Want to Miss

Again, it's the easiest.

NerdWallet's Smart Money Podcast
Prediction Market Betting Hype and Self-Employment Taxes You Don’t Want to Miss

It's the simplest.

NerdWallet's Smart Money Podcast
Prediction Market Betting Hype and Self-Employment Taxes You Don’t Want to Miss

And you're just saying, who wins?