Mark Cuban On The Future Of Sports Betting | CNBC

joining us on the phone this morning is Dallas Mavericks owner Mark Cuban markets good to talk to you again good morning egg morning good to be on you've predicted this day for a long time how does it feel now that it's here I mean I think everybody you want the top floor professional sports team that basically go to value their team EE and mark give us a broad perspective because this isn't just about sports as we think of them professional sports this is also about eSports you've invested in unicorn or else UD's company tell me how this is going to change the atmosphere writ large for sports Tamara part of the underground economy like air was referring to from weather now you leverage all the new technology available to do it and so the fact that we can take it above board means that there are a hundred and eighteen countries that only allow gambling and so really it's our chance to learn from them and and can't dump in again with technology it'll be always on at this it'll be something that'll be a new form of entertainment there to fix the ball mark did you this is Morgan Brennan did you just say that everybody who owns a sports team they're gonna see the valuation of those sports teams double oh yeah I mean look it'll finally it can finally become fun to go to a baseball game again you know all that downtime on a basketball game football it is easy to see you have you'll have fun at the arena at the stadium and while you're watching it whether it's online on traditional TV no effect it's good even out traditional TV because of the zero latency or minimal latency of traditional broadcasting so you know I think I think it's something that benefits everybody even and gentlemen so getting report mark helped us break down the list of beneficiaries here because we saw casino stocks pop obviously we're watching to see if media stocks move this but does it go beyond this immediate envelope of machines and and people who have rights how far really the winner let's go well I mean how could it go I mean you know Facebook Amazon look Emma's on the one place that reaches everybody in the country and so I mean you could take it to its natural conclusion that they can do it but it really comes down to what the states do right because how the states handle the implementation of what they allow and whether or not they work together will determine how all this plays out so I can paint them a phenomenal picture about you know twenty billion dollars you know coming into that the economy obstetrics debts are going from underground to over ground but the reality is you know will estate make it a physical nexus that you have to bed at will they allow it to be a lot if they allowed to be online in real time will they connect with other states or will we see dark pools of bedding will they'll be you know will be found with with draftkings that you know you got really smart mathematicians that would just play make it all about math and place huge bets instead of all these different lineups that maximize their opportunities to win kind of clouding out the uninitiated player who was just doing it for fun and so that's really going to be the greatest challenge to maximizing the opportunity if states are smart they'll work together and come up with a single solution so that they all get tax revenue from it they all can deal with the social element of helping you know gamblers anonymous and helping people not get overwhelmed by this but if they do it in here you know they tried to do it on their own then you're gonna see all kinds of issues and you're gonna see winners and loser within each state mark what about the technology infrastructure plays here we've seen cryptocurrencies have an impact on NVIDIA on AMD Intel etc we're talking about a lot of data that's going to need to be crunched in real time we're talking about database implications so when it comes to chip players when it comes to cloud infrastructure players when it comes to database players like Oracle who do you expect to benefit I mean look this is the natural opportunity for blockchain but the question is whose blockchain and it's at a private blockchain you know at unicorn that has a beautiful which is a token that's being used to gamble on eSport so is it tokens ribbon those are a lot of questions that I think are going to be difficult for states to understand so remember this is a brief court didn't say now there's a federal law everybody does this the same way if I understand it they turned it back to state and not all states are is advanced some may just look at this as the lottery opportunity others may not understand it at all so it's really going to come down to the state to come down come down to lobbying and so in terms of winners and losers it's the little other than the sports teams of the people that are getting gambled on because of the event and that's going to be driven it's going to be tough now methods only location-based then you know I think this was earlier that talks about more serious venues content talks about sports venues those are going to be the hugest beneficiary if it's you know something's done on a national basis then that changes you need bigger databases you need bigger implementation I don't think I'd be something that drives the chip manufacturers this is not like all the sudden you're gonna have you know a need for 10 million fighters and need spdf if it's not to get something that drives a big development because now all the sudden you need to be handling more transactions that are specific to a token or something like that so I don't think that stuff so the three tech opportunity for chip says even though you know again depending on how the state will it could be a great first step for blockchain to become I don't want that ubiquitous but mainstream mark who are the prospective losers in this I mean the first losers are going to be you know you talk about Bitcoin and blockchain there's going to be companies that that start shouting gambling in the stocks as part of their stockings on penny stocks and so once that happens you know small-time investors in particular are going to have to be very careful that they don't get sucked into companies renaming themselves and you know it's going to be about three minutes from now when someone says we're the gambling blockchain and you know my stocks their stock goes up from 20 cents to 20 bucks and so those are the first line of big losers the second line of big losers you know again it are going to be the states that think small and and I think you know and I think possibly casinos but then again on you know I'm just thinking this through in real time casinos don't really make money from sports books they used it to draw attention and so I don't think it really affects the casinos at all in terms of their sports book but it could allow them to in terms of in Vegas anyways but it could allow them to create sports books in each state to have a nexus and each state but you know I thought for me to think that think of the losers are going to be other than fall investor you know we've seen a lot of head fakes in the past mark regarding like online poker and daily fantasy does the fact that this is SCOTUS make it more permanent more assured in your view the lawyer but yes I mean all the things you can see you know online poker all the sudden that context you know some of us are betting odds for tonight and you know in the minute you start that then here in the state it could surpass with online poker with someone's gonna start up online poker again draftkings is gonna you know felt now the legitimate now you know but it's it's going to be interesting it's going to be a free flow I get that's the only thing that they was dirty and so mark then what about social impacts of we've already got this wave of concern about not just kids but everybody getting addicted to smartphones just from looking at video content or their Facebook feed now adding gambling sports gambling into that mix some of those issues could come more to the fore the what sort of moves the industry need to make to but to prevent bad laws perhaps at least from the perspective of economic activity getting created because they're feeling a void of some sort yeah I mean there's no question that there could be a profound social impact you know we are addicted to our advices we are addicted to doing things in the real time and media gratification and online gambling will fall right into that but you know we were doing that type of gambling underground and so it's not like I don't think all the sudden you're going to see a lot more people gamble but now because it'll bring it to the daylights I think you'll see the NBA and all the professionals accordingly start to work with social organizations like gamblers anonymous others to make sure that their people get help and I think just like you saw with Cruz gambling and folk gambling etc he'll be limits on a lot stuff a lot of things for what they're allowed to fence and how big big well I think that'll mitigate some of the mark how do you think this plays out from a media perspective for ESPN or for Comcast our parent company well I think look for the NBA just you know that's a big customer with them being one of our big customers I mean you know it's going to improve our ratings the minute you can place a bet and you're gonna want to watch it it improves our rate and and the same thing will happen with all boards that are on TV so I think it's a positive ludus to it earlier if the traditional MVP beat our part don't start talking about the minimal latency and it's not now they're also going digital maybe even integrating any further allowed you know that you know if you guys if you're watching a game on it's over the top spider and you've got a traditional Indian right next to the TV at the head of the online because it's it caching so it doesn't buffer and though that could have a potential positive impact on traditional media hey Mark not to pivot too far away from the story of the day but what do you think the president's thinking given his his history in AC I have no idea you know I stopped getting in handy Cathy I stopped handicapping what the president was going to do and so that's not a bet I'm going to make how about the overall market any any change in your taste here as we're coming back above some key averages getting back to 25,000 on the Dow yep you know our concerns about the fact that there's not a ton of volume on updates I'm concerned that the the market seems to be getting popped by sheriff buybacks and you know concerned by rising interest rate I don't think there's a reason for the market to go down but I don't think there's a reason for it to accelerate up but that's said and the interest of disclosure you know my main two holdings have been the same for the past several years Netflix and Amazon you know I think Amazon's the best companies that start up in the world and Netflix isn't far behind mark what about Elon Musk we've been talking about him a little bit genius clearly questions about execution and how he's conducting himself publicly when so much is riding on his public image would you would you put more into his companies into Tesla for example as an investor after that last earnings call yeah look I think it's an illness you know it's okay for a CEO to have some stuff to him or her right it's okay for them to have an attitude you don't have to be Videla all the time that's just life I mean unlike other founders not even CEOs but I like under other founders who had their lives all filled up into one company he puts his heart out there and he puts his finances up you know secrecy law but for his genius but you have to really respect it because he puts everything he has on the line this is not like you know what I've got all my money every one of these companies puts his own cash into and he's gotten to the limit and so but it's his baby he sees the vision he has execute you can argue that he's going to need to raise cash for this that but if everything he has is wrapped up in it as far as I understand it and I think for that reason I'm not necessarily a buyer cuz I don't know the industry but you've got to trust them and I don't think the stuff on the conference call with anything at all that was just Michigan mark we're on trillion dollar market cap watch for Apple right now I think it hits are you a buyer right now I haven't been just you know like I said I've got my two big positions and I've had them forever and so I'm not ready to dive in and to put more cash in the stocks right now I'm content to have two big positions that continue to do well and I think they're great companies and I've compared to have a lot of cash you know you know if your words not the thing when there's blood in the streets and there may not ever be blood in the streets but the amount of money I earn interest keeps on going up and the stocks that I have you know my biggest Holdings keep on going up so I don't I don't have any reasons dive in and I think that's the feeling that a lot of these esters have that you know we have some stocks that I keep on going up those are the ones we have for comfortable with why put anymore and with you know we can talk about Apple bones with trillion and there's no reason why they won't you know the market should continue to growth and services business continues to grow their watch business continues to grow they're finding new applications oh I think it'll hit it but again you know I'd rather have a lot of cash for that time when things go bad just like we did what was in February when all the big stuff went upside down I had a bunch of cash and I was able to buy more of the things I liked and you know a nice that worked out really well and that I think that's the way most investors are thinking finally mark if you're right and the value of top for pro teams goes up a hundred percent I mean you're famous for knowing when to sell some key assets so what would it take for you to sell the maps nothing I mean that there's no way I've got three kids and you know I love the game of basketball what's better than before a Mavericks game going out in the court in your own arena and getting up shot there's no amount of money that says you are you mark really appreciate you coming to the phone on short notice helping viewers understand what is a big story we'll see you next time thanks for having you guys that we get it Mark Cuban joining us on the phone hey there thanks for checking out CNBC on YouTube be sure to subscribe to stay up-to-date on all of the day's biggest stories you can also click on any of the videos around me to watch the latest from CNBC thanks for watching

39 thoughts on “Mark Cuban On The Future Of Sports Betting | CNBC”

  1. Monika Humayer
    Government should create jobs and get taxes created from profit of actual value and not using tax collected from betting offices which is people’s hard earned money .It is the government who should be made responsible. The same goes for the profit the goverment made from selling pharmaceutical drugs alcohol and cigarette. Everyone is suffering and choked by the idiotic habits which should be hiding way from sight and not being advertised like a coolest thing as part of watching a soprt game. I would ban
    Betting advertisement during a match as the enjoyment of the game is being linked with the name of the betting companies , So our minds are being dangerously tricked, First step to end this is to really ban any harmful companies or betting shops being advertised during matches or at least on the TV Ot made is believing that gambl8ng is as much enjoyment as watching a great game, Then football playing horse riding tennis would become just like any other entertainment job or healthy sport activity and not a source of extreme Danger.

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  3. I've been researching into betting systems and found a great resource at Sebs Sport Crusher (check it out on google)

  4. Look it was bound to happen you can't ignore that billions of dollars are made every year on sports betting legal or illegal the supreme Court ruling has changed everything

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  6. i’m all for gambling. but i enjoy going to a casino. sports betting. yay ill do it. but not all the time.

  7. It was a shame that we who live in the east coast couldn't go to Atlantic City to bet on sports (Boxing, Basketball, MMA etc.) like you can do in Las Vegas. They should allow reputable Casinos that have a base in Atlantic City and Las Vegas to offer online sports betting as well.

  8. Mark, if one of your employees treated you like Musk treats his enemies, you would not be so supportive of the butt-head style.

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