2 in 5 Americans now bet on sports
Marketplace All-in-One
Marketplace
4.5 • 1.4K Ratings
🗓️ 11 December 2024
⏱️ 9 minutes
🧾️ Download transcript
Summary
40% of Americans say they bet on sports through casinos or apps. Americans are projected to bet $150 billion on sports this year — that’s more than the entire annual budget of the state of New York. Today, we’ll consider what’s behind America’s sports betting boom. But first: The Bureau of Labor Statistics has announced new data release procedures, and the Consumer Financial Protection Bureau wants to crack down on sensitive data sales.
Transcript
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| 0:00.0 | Two out of five people now bet on sports in America. |
| 0:05.9 | I'm David Brancaccio. |
| 0:07.1 | First, some of the most market-sensitive data we routinely cover here come from the Federal Bureau of Labor Statistics, which is coming out with new procedures after blowing it several times this year. |
| 0:18.0 | Marketplaces Nancy Marshall-Genzor reports. |
| 0:20.8 | Last February, a Bureau of Labor Statistics staffer emailed a list of people dubbed |
| 0:25.3 | super users about unusual patterns in inflation data. In May, five files on inflation and earnings |
| 0:32.3 | data were released about a half hour early by a government contractor. The BLS released data late in August. |
| 0:39.5 | The report says two of the three incidents were caused by human error and blamed the third on a |
| 0:44.6 | technology update glitch. It did not find, quote, dishonest or nefarious underlying motives. |
| 0:50.9 | The BLS says it's increased staff training and changed procedures for |
| 0:55.4 | releasing information and put limits on contractors' access to data. I'm Nancy Marshall |
| 1:01.0 | Genser for Marketplace. Sensitive information like Social Security numbers, salaries, and |
| 1:07.6 | credit scores are sold by data brokers to the highest bidder. Maybe it's a bank or maybe a scammer. |
| 1:13.4 | The Consumer Financial Protection Bureau wants to crack down. Our Megan McCarty Carrino, with our program |
| 1:19.2 | Marketplace Tech, spoke to the head of the CFPB, Rohit Chopra. |
| 1:23.6 | What we're trying to make sure is that information like your income, your social security number, |
| 1:31.7 | this is really only shared for legitimate purposes, like accessing a loan offer. |
| 1:40.8 | It can't be used simply to sell our data to scammers who might be targeting older adults and others in financial distress. |
| 1:52.0 | And it certainly shouldn't be used to sell to state actors who are looking to collect information about U.S. citizens for nefarious purposes. |
| 2:05.7 | So what are the implications of a data broker falling under the standards of a credit bureau? |
| 2:14.1 | Well, they'll just have to come clean and not sell data that is not allowed under the law. |
| 2:23.2 | Our Marketplace Tech program will have the Fuller interview later today. |
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