We knew we kicked butt in Canada, we were the cool, young sports network, right? But we were getting downloads, six, eight, ten to one coming out of the States, so we really knew we were on to something, and that sort of more authentic approach to sports that we had in the TV network was carrying through into our digital life. So, you know, next time Rogers came along and we got the right valuation, and we were able to hold onto the brand and carve out all the digital assets, we did the deal.
So, what happened in the interim? We continued to grow the digital asset; became the second-most popular sports app in North America, behind ESPN; continued to grow, continued to grow, humongous engagement coming from both, you know, all over. James West: What does your engagement look like right now?
People hit our app , , times a month, which is enormous compared to other apps. We know where they are. Some people bet offshore, some people bet with the old-style bookies, but betting, you know, was really just one part of why people are passionate about sports, right?
As you recall, we had the ticker with the odds on it; we were the only ones there. James West: Yeah. So, how are you monetizing that? John Levy: So, absolutely, it is a huge game-changer for us. And, you know, over the years, recognizing the fact that a high percentage of everybody who loved the TV network and who loves our app, bets on sports, right? And so A, we always stayed clean. We never wanted to sort of do that offshore thing, or, you know, capitalize on the fact that we knew we had that engaged audience.
Now, how are we going to utilize this? We know we have the most engaged audience; we know we have huge engagement in the US. John Levy: So one of the things we had to decide is, do we want to do that, or do we want to go all in? And we honestly sat around and said, you know what?
Lose, lose, lose, make money, boom: it got sold. You know, and the app was basically on that same sort of path. John Levy: But we decided, no. We said, look, it was not fulfilling just to take that short-term win.
Plus, if you look at the size of the market, if you look at our user base, if you look at the different way we approach this whole thing, we really have a unique opportunity to take not just a secondary position, but to be the leader in the sports gaming business in North America. James West: Okay.
When you say the sports gaming business, what do you mean, exactly, by that? John Levy: Now, that may lead to other things. Does it lead to casino activity? James West: Sure. Okay, so to what extent will the sports betting component of the sports media enterprise become responsible for what, like, what level of your revenue going forward?
James West: Wow. John Levy: Right. James West: And everybody knows, the house always makes money. John Levy: When you have the right people pricing it, and we do, because with BetWorks, the company we partner with in Nevada, you know, they do our risk and trading, and you know, the guys doing it for us has only been doing it for 25 years in Vegas — and that was a whole, if we could sit here and talk about the multitude of decisions that we had to make in terms of, once we decided that we wanted to be the book, okay, we had to be the best.
So we took like six, eight months and actually built a native, new app called theScoreBet, as compared to just, this is beyond you and me, but technical, just an HTML wrap where, you know, you sort of got into the business and then worried about how good it was later on.
No; we wanted to build right from scratch. That allowed us to do two things. Number one, have a great app. But number two — and the real differentiator between us and everybody else, gets back to our history: sports betting is just a part of the passion about sports. Now, theScoreBet is a separate app; it has to be, for regulation standpoints. But from a user standpoint, the interface will be completely seamless, and if you look at the other betting apps, what are they trying to do? They want to try and keep people there, so how do they do it?
They start trying to infuse content and data. So we think a couple things: number one, from a stickiness standpoint, remember we were talking about the engagement? This will only enhance the engagement. If picking two horses in order sounds too difficult, you can "box" your wager. A boxed wager will win if your horses finish 1st and 2nd, in any order, making it more likely for you to win.
A less common wager only available at certain tracks, the quinella is a simplified exacta. The trifecta adds another layer of complexity, requiring you to pick the top three finishers in the correct order. The minimum bet amount is often 50 cents.
If you've mastered the art of win, place and show wagers, try a trifecta. A trifecta is more difficult than win, place and show wagers, as well as exacta wagers, so it yields a higher payout than any of those bets. These horses must finish first, second, and third, in that exact order, for you to win the wager.
If picking three horses in order sounds too difficult you can "box" your wager. A boxed trifecta wager will win if your horses finish 1st, 2nd, and 3rd, in any order, making it more likely to win. Going one step further, the superfecta calls on horseplayers to accurately select the top four finishers. The superfecta is a challenging wager to hit, so the minimum wager amount at many tracks is just 10 cents, allowing bettors to play many combinations on small budgets. Think you can select the top five finishers in the correct order?
Then the Super High 5 is the bet for you. At some tracks, if no one manages to hit the Super High 5, the wagering pool carries over to the next race on which the Super High 5 is offered, providing a jackpot prize for the next round of winning players to split. The minimum wager amount varies. Multi-race wagers can be a fun way to maintain a rooting interest throughout an entire afternoon of racing. Also known as the Daily Double, this bet requires horseplayers to select the winners of back-to-back races.
One of the most popular exotic wagers, the Pick 4 involves selecting a quartet of consecutive winners on a minimum budget of 50 cents.
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The stock market, in the long run, tends to go up although it certainly has its periods where stocks go down. Particularly for investors who are looking at the long horizon, buying stocks is less risky than short-selling the market. Short selling does make sense, however, if an investor is sure that a stock is likely to drop in the short term. For example, if a company is experiencing difficulties and could miss debt repayments. Day Trading. Stock Trading.
Your Money. Personal Finance. Your Practice. Popular Courses. Short selling is riskier than going long on a stock because, theoretically, there is no limit to the amount you could lose. Speculators short sell to capitalize on a decline while hedgers go short to protect gains or minimize losses.
Short selling, when it is successful, can net the investor a nice profit in the short term as stocks tend to lose value faster than they appreciate. Compare Accounts. The offers that appear in this table are from partnerships from which Investopedia receives compensation.
Related Articles. Bond Market. Buy a Put! Day Trading Short selling basics. Partner Links. There is an exception, though. In multi-race bets - like a pick four or pick six, for example - they will not cancel your entire ticket because one horse is scratched.
Instead, they will turn your bet on the scratched horse into a bet on the favorite. Most scratches are available the morning of the race card, with changes updated throughout the day. It is important that bettors pay close attention to those scratches. You also want to be sure that a horse that you are relying on to shape a race is actually going to be in the race.
Our weekly newsletter is loaded with exclusive free picks,insight and advice from our expert handicappers. How Does Sports Betting Work? Exacta Box?