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Rufus Peabody

👤 Person
57 total appearances

Appearances Over Time

Podcast Appearances

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

And so I ended up with close to $60,000 bet on the Super Bowl. And so I basically was pretty leveraged. Yeah. And I remember being like, if this game doesn't work out, you know, I gave it a shot. All right. And what is causing you to have such conviction about a game? Oh, nothing. It wasn't conviction about the game. It was betting the props. The props.

Planet Money
How sports gambling blew up

And so I ended up with close to $60,000 bet on the Super Bowl. And so I basically was pretty leveraged. Yeah. And I remember being like, if this game doesn't work out, you know, I gave it a shot. All right. And what is causing you to have such conviction about a game? Oh, nothing. It wasn't conviction about the game. It was betting the props. The props.

Planet Money
How sports gambling blew up

And so I ended up with close to $60,000 bet on the Super Bowl. And so I basically was pretty leveraged. Yeah. And I remember being like, if this game doesn't work out, you know, I gave it a shot. All right. And what is causing you to have such conviction about a game? Oh, nothing. It wasn't conviction about the game. It was betting the props. The props.

Planet Money
How sports gambling blew up

I still remember going, it was like Harrah's, Caesars, the Rio. I ended up getting down like $200 at a time, like $5,000 positions on a few things that were really good. And so I was diversified. Within the game? Within the game. I wasn't betting on the outcome of the game, but I still, to this day, have never watched that game. I was too nervous.

Planet Money
How sports gambling blew up

I still remember going, it was like Harrah's, Caesars, the Rio. I ended up getting down like $200 at a time, like $5,000 positions on a few things that were really good. And so I was diversified. Within the game? Within the game. I wasn't betting on the outcome of the game, but I still, to this day, have never watched that game. I was too nervous.

Planet Money
How sports gambling blew up

I still remember going, it was like Harrah's, Caesars, the Rio. I ended up getting down like $200 at a time, like $5,000 positions on a few things that were really good. And so I was diversified. Within the game? Within the game. I wasn't betting on the outcome of the game, but I still, to this day, have never watched that game. I was too nervous.

Planet Money
How sports gambling blew up

How did you experience the game if you didn't watch it? I went to this little par-3 course that's open at night, right south of the airport. And I played the par-3 course twice until I felt like the game would definitely be over. And then I went grocery shopping. And I didn't have a smart, this is pre-smartphone. I went grocery shopping and then I went home and cooked myself dinner.

Planet Money
How sports gambling blew up

How did you experience the game if you didn't watch it? I went to this little par-3 course that's open at night, right south of the airport. And I played the par-3 course twice until I felt like the game would definitely be over. And then I went grocery shopping. And I didn't have a smart, this is pre-smartphone. I went grocery shopping and then I went home and cooked myself dinner.

Planet Money
How sports gambling blew up

How did you experience the game if you didn't watch it? I went to this little par-3 course that's open at night, right south of the airport. And I played the par-3 course twice until I felt like the game would definitely be over. And then I went grocery shopping. And I didn't have a smart, this is pre-smartphone. I went grocery shopping and then I went home and cooked myself dinner.

Planet Money
How sports gambling blew up

And then and only then did I open my computer and check and see how the game went. And were you just going through your prop bets, seeing what happened? First I looked at the box score and I saw the first score was Gary Russell one yard touchdown run. I was like, ah, right. And it turned out out of like $56,000 bet, like I profited like 23,000 on it.

Planet Money
How sports gambling blew up

And then and only then did I open my computer and check and see how the game went. And were you just going through your prop bets, seeing what happened? First I looked at the box score and I saw the first score was Gary Russell one yard touchdown run. I was like, ah, right. And it turned out out of like $56,000 bet, like I profited like 23,000 on it.

Planet Money
How sports gambling blew up

And then and only then did I open my computer and check and see how the game went. And were you just going through your prop bets, seeing what happened? First I looked at the box score and I saw the first score was Gary Russell one yard touchdown run. I was like, ah, right. And it turned out out of like $56,000 bet, like I profited like 23,000 on it.

Planet Money
How sports gambling blew up

Yeah, probably. He just drives around Las Vegas, and the money piles up. And I remember having like $30,000 on that front seat and being like, oh my God, so much money. In cash. In cash.

Planet Money
How sports gambling blew up

Yeah, probably. He just drives around Las Vegas, and the money piles up. And I remember having like $30,000 on that front seat and being like, oh my God, so much money. In cash. In cash.

Planet Money
How sports gambling blew up

Yeah, probably. He just drives around Las Vegas, and the money piles up. And I remember having like $30,000 on that front seat and being like, oh my God, so much money. In cash. In cash.

Planet Money
How sports gambling blew up

I try to drill things down to their root cause. I try to figure out why things happen in a baseball game or a golf tournament. What makes a player good? It's not just their score. What are the things that are driving their score? Which of those are repeatable, which aren't? And right now, you have all this computer vision, that type of data available now.

Planet Money
How sports gambling blew up

I try to drill things down to their root cause. I try to figure out why things happen in a baseball game or a golf tournament. What makes a player good? It's not just their score. What are the things that are driving their score? Which of those are repeatable, which aren't? And right now, you have all this computer vision, that type of data available now.

Planet Money
How sports gambling blew up

I try to drill things down to their root cause. I try to figure out why things happen in a baseball game or a golf tournament. What makes a player good? It's not just their score. What are the things that are driving their score? Which of those are repeatable, which aren't? And right now, you have all this computer vision, that type of data available now.

Planet Money
How sports gambling blew up

And with a lot of these sports, I mean, we're now talking about bat speed. measuring bat speed and looking at, like, aging curves for bat speed.