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Tenxer CEO Jeff Ma argues the big money maker for states is in online sports gambling.
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An individual lawsuits time I -- the big story this week -- in the gaming industry has been New Jersey has legalized online gaming.
Is the question -- a financial program how much money does not bring -- to the states.
Let's bring in Jeff -- he's former member of the MIT blackjack team now he's CEO of ten X.
Jeff they -- his opinion from me.
I don't think that online Coca always blackjack.
Casino table games is gonna bring in that much money for New Jersey or any other state that -- it.
I think can you tell if I'm right the big money is on sports gambling on line which is not here yet but that's where the big money as what is site.
You know I'd I definitely agree and I think that's what government Christie is Governor Christie is really trying to push for and that's really where the -- -- gonna happen I mean.
The high end estimates as some of the stuff is you know twelve billion.
And then 15% -- -- two billion it -- of the states across the country.
But if you talk about the illegal money the money that spent illegally on sports in the US they estimate that anywhere from 200 to 400 billion dollars.
Which means that you're talking about you up to sixty billion dollars in revenue for the states.
So I agree -- slowly that sports legalized sports betting in these states would really be the big boobs.
But this serious resistance to that isn't I mean because -- will you stop bribing athletes to throw a game or something if there is well it bit but you know -- How if you could do this at home.
That thing didn't that's gonna bring out a gambling addicts isn't it.
Not mean I think that the bill a lot of resistance that you hear is you know reminiscent of prohibition -- or anything like that right now you're you're talking about.
Making it illegal so it's much easier to hide things like point -- if you actually expose us and make -- transparent.
It's much easier to understand what's going on it's much easier to expose problems of people are doing something illegal.
It's much it's much harder for them to seek help if they have a problem because not only are they doing some and that they have a problem -- also doing something illegal.
So -- even more embarrassed about it I think making illegal well actually help things like exposing potential points in more potential problems.
If you have to put the best on -- would you think that new -- it will get -- sports gaming online.
Anytime soon.
Not soon I would say were so few years away by the way you made a lot of money.
-- counting in the casinos I think you'll banned from most casinos is article.
You can't count cards if -- playing online Kenya.
I have no idea what they -- -- situations gonna look like but that's exposes the great thing which is the fact that.
The experience online -- so different in the experience and a casino that I don't think these people have any idea what kind of revenue they're gonna really generated from these online casinos.
And again that points of the fact that like sports betting which is already done online quite a bit has already very popular.
Will be the place where as you know governments they can generate a lot of revenue they -- you don't you don't genome online gaming you don't play online.
Not what I mean that what's the fun -- sitting behind -- computer playing black thing against the computer I -- I can't see.
Why that would be something that I would spend a lot of time doing because you can't count taunts and that's it is news.
Well I don't like everything's we're not gonna make money Stewart does what you -- mr.
Of course Paige Jeff -- you know you're talking about and we appreciate that thank you very much indeed telling tendency as soon I checked out.
