Welcome to the pro rata podcast. Dan Primack is on vacation and I'm Nick Johnson, the editor of Axios.

On today's show, we're going to let you hear an interview that Dan did with Washington Wizards and Washington Capitol's owner Ted Leonesis.

Sports betting became legal in Washington, D.C. this week and Ted has been one of the voices to legalize sports betting across the country. In 25 seconds, you'll hear Dan's conversation with Ted. But first, this.

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We're joined now by Ted Leonsis, CEO of Monumental Sports, who also owns the Washington Wizards of the NBA and the Washington Capitals, who are the Stanley Cup winning team in the

NHL. You said right after the Supreme Court ruling that you expected it to, and this was your

quote, changed the face of sports fandom for the better.

What's the basic explanation?

Why as a sports fan is this going to make my experience better?

Well, there's no secret that sports is the most important piece of content,

the great convener for media companies,

and that cable has been the big driver driver and the cable plant has been shrinking.

And young people don't sign up for cable. And young people are on wireless and they're

tweeting and the light. And they really haven't had an opportunity until now where we will see

streaming and high speed data and e-wallets.

And so now young people will come to sports, and they'll look at it as a video game.

They'll look at it as an interactive experience and a social experience.

And I would expect that it will open up a gigantic new pool of money for the players, for the fans,

for the leagues, for the media companies.

...