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Rufus Peabody

👤 Person
57 total appearances

Appearances Over Time

Podcast Appearances

Planet Money
How sports gambling blew up

Rufus Peabody is who crossed Roxy's bridge. I never was a bettor as a kid. I didn't know anything about sports betting. You didn't feel a little twinge of desire? None. None. Most people that got their start, they started losing and then they learned how to win. But I was never a bettor. I never grew up betting besides NCAA tournament pools. I was always good at those. But for me, it was a game.

Planet Money
How sports gambling blew up

Rufus Peabody is who crossed Roxy's bridge. I never was a bettor as a kid. I didn't know anything about sports betting. You didn't feel a little twinge of desire? None. None. Most people that got their start, they started losing and then they learned how to win. But I was never a bettor. I never grew up betting besides NCAA tournament pools. I was always good at those. But for me, it was a game.

Planet Money
How sports gambling blew up

Rufus Peabody is who crossed Roxy's bridge. I never was a bettor as a kid. I didn't know anything about sports betting. You didn't feel a little twinge of desire? None. None. Most people that got their start, they started losing and then they learned how to win. But I was never a bettor. I never grew up betting besides NCAA tournament pools. I was always good at those. But for me, it was a game.

Planet Money
How sports gambling blew up

So it was this team won 82 to 64, but why did they win? Basically, I kind of wanted to report on the why it happened. You wanted explanations. I wanted explanations.

Planet Money
How sports gambling blew up

So it was this team won 82 to 64, but why did they win? Basically, I kind of wanted to report on the why it happened. You wanted explanations. I wanted explanations.

Planet Money
How sports gambling blew up

So it was this team won 82 to 64, but why did they win? Basically, I kind of wanted to report on the why it happened. You wanted explanations. I wanted explanations.

Planet Money
How sports gambling blew up

They would bet on what plane was most likely to land next, right? And this is like sort of pre-internet days or pre, like, being able to see flight plans and stuff like that. And so it was like, okay, American Airlines is like six to one, like, you know, Southwest is two to one, whatever. What people didn't realize, though, was Roxy actually had a contact in the control tower. And so Roxy won.

Planet Money
How sports gambling blew up

They would bet on what plane was most likely to land next, right? And this is like sort of pre-internet days or pre, like, being able to see flight plans and stuff like that. And so it was like, okay, American Airlines is like six to one, like, you know, Southwest is two to one, whatever. What people didn't realize, though, was Roxy actually had a contact in the control tower. And so Roxy won.

Planet Money
How sports gambling blew up

They would bet on what plane was most likely to land next, right? And this is like sort of pre-internet days or pre, like, being able to see flight plans and stuff like that. And so it was like, okay, American Airlines is like six to one, like, you know, Southwest is two to one, whatever. What people didn't realize, though, was Roxy actually had a contact in the control tower. And so Roxy won.

Planet Money
How sports gambling blew up

He made money off of these bets. But he didn't make enough to draw suspicion. That was the key. But he would occasionally hit the Japan air at 301, right? Or whatever.

Planet Money
How sports gambling blew up

He made money off of these bets. But he didn't make enough to draw suspicion. That was the key. But he would occasionally hit the Japan air at 301, right? Or whatever.

Planet Money
How sports gambling blew up

He made money off of these bets. But he didn't make enough to draw suspicion. That was the key. But he would occasionally hit the Japan air at 301, right? Or whatever.

Planet Money
How sports gambling blew up

A bookmaker can make more money. Let's say if they know the public's bias, they can make more money setting a line somewhere between the true price and the price the public thinks. That's the way to maximize.

Planet Money
How sports gambling blew up

A bookmaker can make more money. Let's say if they know the public's bias, they can make more money setting a line somewhere between the true price and the price the public thinks. That's the way to maximize.

Planet Money
How sports gambling blew up

A bookmaker can make more money. Let's say if they know the public's bias, they can make more money setting a line somewhere between the true price and the price the public thinks. That's the way to maximize.

Planet Money
How sports gambling blew up

I said, theoretically, you can make more money setting a line somewhere between the true price and where the public thinks the price is.

Planet Money
How sports gambling blew up

I said, theoretically, you can make more money setting a line somewhere between the true price and where the public thinks the price is.

Planet Money
How sports gambling blew up

I said, theoretically, you can make more money setting a line somewhere between the true price and where the public thinks the price is.

Planet Money
How sports gambling blew up

The Pittsburgh Steelers played the Arizona Cardinals. I had made a friend with a professional sports bettor, a guy that bet baseball. And he loaned me $10,000 to bet. I had my own $10,000 to $12,000. My boss, Kenny, unbeknownst to everybody else, invested $40,000 in me and gave me a 20% free roll on it. Meaning that if it wins, you take 20% of the profits. But you suffered another losses. Correct.

Planet Money
How sports gambling blew up

The Pittsburgh Steelers played the Arizona Cardinals. I had made a friend with a professional sports bettor, a guy that bet baseball. And he loaned me $10,000 to bet. I had my own $10,000 to $12,000. My boss, Kenny, unbeknownst to everybody else, invested $40,000 in me and gave me a 20% free roll on it. Meaning that if it wins, you take 20% of the profits. But you suffered another losses. Correct.

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