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Everybody I'm Kai Rizdal welcome back to make me smart we're none of us is as smart as all of us.

And I'm Kimberly Adams thank you for joining us it's Tuesday which means it's time to dive deep into a single topic and today we're all going to get smarter about the business of sports betting with the Super Bowl coming up this weekend it's almost certain that most of the people who will be legally betting it will make this the most legally bet on sports event ever.

And betting is of course a huge part of American professional sports both legal and not but we're going to talk about the legal side because there's plenty of that who really wins and loses other than the house and what it might mean actually for the future of sports in this economy.

Here to help us understand all this is Danny Funt editor at the week magazine and freelance sports journalist welcome to the show.

Hi thanks for having me.

So when those who choose to sit down and watch the Super Bowl this weekend assuming that they're not just watching for the ads how much legal betting will be going on.

So as far as legal betting goes the estimate is over a billion dollars which is as you said going to make it the most legally bet on sports event in US history.

Betting is legal in 33 states and Washington DC and there's just enormous opportunities in so many of these states that yeah it's going to shatter these records.

What's the back of the envelope calculation for not legal betting on the Super Bowl and he got any ideas.

The American Gaming Association the industry trade group estimates 16 billion so that counts offshore betting betting among your friends is a staggering number.

No wonder people want to capture some of that walk us through what placing a bet on one of these sporting events looks like well how does it work at least on the legal side.

So the big area of growth and now the big majority of betting action is online and that opens so many doors for these businesses to have betters betting throughout games just constantly that that's one of the hottest trends in the sector.

But one of the interesting things about the Super Bowl is in addition to betting on who's going to win how many points are going to be scored those sort of standard bets.

There's enormous opportunities to bet on just about every component of the game and some aspects outside of the game so at bet MGM for example there are a thousand of these prop bets how many yards is Patrick Mahomes going to throw at some other sports books you could bet on how long is Chris Stapleton's national anthem going to last what song will reanna start with at the halftime show.

Basically every possible component of the Super Bowl is now betting opportunity.

Isn't it true that not very long ago in this country sports betting was illegal on a federal basis and how did we get to where now it's legal in 30 whatever it is states.

Right so betting is as old as American professional sports but as you said.

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