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00:00I know you're working on a story with FanDuel's co-founders launching something called BetHog.
00:08Can you explain a little bit?
00:09We have about two minutes.
00:10Can you explain a little bit about what BetHog might be?
00:12Yeah, sure.
00:14BetHog is the latest sort of legal sports betting alternative, the latest alternative
00:20to a legal sports book that was built by the founders of FanDuel, which is the biggest
00:25sports book in America right now.
00:27You've seen these websites pop up where this one is only taking cryptocurrency, interestingly
00:33enough.
00:34You might ask, why would they not want real money to be bet on the platform?
00:38And the reason, quite frankly, is because if you use real money to bet on a platform,
00:41a lot of times you meet a state's definition of gambling.
00:46And these are platforms that do not want to be regulated as gambling so they can avoid
00:51the taxes, fees, regulatory scrutiny associated with legal sports betting.
00:56That's the reason that makes it such a hard business.
00:58But we've seen these people with a lot of weight behind their name, these folks who
01:01founded FanDuel now starting this company.
01:04We've got a lot of other companies that popped up in space, whether it's using fantasy sports,
01:08whether it's using sweepstakes models, kind of these alternatives to legal sports books
01:12that have popped up trying to capitalize on this boom of sports betting, which has followed
01:18ever since PASPA was repealed.
01:20So it's going to be an interesting kind of thing to watch here, whether states start
01:23to regulate this stuff more, go after it.
01:25Pretty significant that you have people who founded FanDuel starting this company and
01:29a lot of investors behind them as well.
01:32What they call a legitimate product.
01:34We'll see if the industry cracks down on them or if states begin to take issue with them
01:39as well. So another interesting thing for next year.