People Are Getting RICH Betting on War… Is This the Future?!

Every day, excessive delays and denials from big insurers keep patients from accessing

the care they need.

And when care is urgent, these delays can be disastrous.

These practices cost billions in wasteful spending, driving up costs for American families.

But while big insurers put up barriers, America's hospitals and health systems are in your corner,

navigating endless reviews and appeals to get you the care you need when you need it

most.

It's time to curb these harmful practices and put the focus back on patients.

Brought to you by the Coalition to Strength in America's Health Care.

Welcome to another episode of The Chicks on the right podcast where we talk to our friend

and sponsor of the show, Zach Abraham from Bullwork Capital Management.

And today, we are going to talk a little bit about betting and betting platforms and gambling

because now with the, you know, with this whole, what's the one that's not polymarket?

The other one is like Kelsey or Kelsey or something.

Kelsey.

Kelsey.

Kelsey.

Yeah.

The platform is now where you can literally bet on anything and people are actually making

bunches of money by betting on things as terrible as war.

So I saw like a tweet from somewhere where people got absolutely rich because they bet

on when the US would strike a ran and now like all of a sudden they're millionaires because

they did that, which feels gross to me.

It does.

Right.

Yeah.

What are your thoughts about that?

And is that something that eventually maybe there's going to be a crackdown on like the

kinds of things that you can actually bet on?

But is it any worse than the lottery, though, too?

I don't know.

Or is it the same?

Or what do you think?

I don't know.

I don't know.

No, these are good questions.

So, okay.

So I look at this from a different perspective and certainly in a biased way.

I don't see this, I don't see this coming in anymore.

I mean, I considered, I think this will continue to proliferate.

So I would anticipate we'll see even more ability to bet on really weird things.

It brings up some interesting, like it brings up some interesting issues, though.

Like, I don't know if you guys heard about this one example, but there was a streak

or the Super Bowl, right?

Yes.

Well, he won 350 grand because he bet somebody would streak during the Super Bowl.

He bet somebody would and then he did it.

Yeah.

Yeah.

Yeah.

So, like, he paid his fine and everything and went to jail.

But I think he, it's either he walked with 250 or 350 grand when it was all said and

done.

Oh my gosh.

Yeah.

Oh my gosh.

Yeah.

Yeah.

That seems really shady.

It's shady, but also he's got a nice chunk for retirement.

Yeah.

Well, and there's part of me.

So like.

What?

Is it kind of shady?

Yes.

And I can see potentially them cracking down on it for reasons like that.

However, I will say that I'm a big fan of the concept of caveat and tour, which is

buyer beware, meaning I think government does so many things to protect people that it

goes over, right?

It goes to the point where it's not really protecting anybody.

It's just making everything inefficient.

Right.

And here's the other thing like from somebody that's in financial markets.

You will never regulate out the ability for stupid people to do stupid things, right?

So and if you look at a lot of regulations, that's what you're attempting to do.

Like you're attempting for people not to get snowed.

If somebody wants to believe that you can guarantee them a 15% annual return, they're going

to get snowed, right?

There's no regulation you can pass that does that or that will prevent that from happening.

Uh huh.

I love the idea of caveat and tour.

The other side of it that is getting very interesting for us is it opens up the possibility

and the ability to use those market to hedge other investments.

So like, for instance, if you were going to sit there and say, like, I'll give you a

perfect example.

If one of the stocks that we currently own for our clients is Taiwan semiconductors and

we've owned it for quite a while and done very well with it, what is the biggest threat

to Taiwan semiconductors?

It's China invading Taiwan, right?

So if if we started getting worried about that rather than selling Taiwan semiconductors,

we could lay a big bet down that paid really big in the event that China invaded Taiwan.

So it and you will start to see these markets get used that way by guys like me that manage

money if they're not already as those markets get more efficient and things like that and

they can take bigger bets and bigger sizes.

That's the other problem.

They could flow to bet size, right?

Like for me to, if I, because if I was going to do that, I'd have to be able to lay down

a bet that was probably the equivalent of at least 15 or 20 million.

I don't know if they, well, we manage a billion dollars, right?

So it's our scale.

Right.

Right.

So, um, but I, I don't know if those pools of money or those, those places have the

ability to take that kind of flow, but they will at some point and so my, I get used

to it.

It's not going anywhere.

You're going to see.

Oh, my God.

Yeah.

It's fascinating to me, though, there's another really, there's a tip that I'll give, I'll

give kids right now.

Okay.

First tip, don't bet on these sites.

Okay.

You're going to hear stories of people that get rich betting.

The reason their stories is because it happens so rarely.

Okay.

That is such an important point because it's the same essentially as going to Vegas and

I think it's going to be like a super winner winning the lottery or whatever.

It's 100% here about the stories because they're rare.

That's such a good point.

Right.

And bet is a bet is a bet.

Like this is the thing.

Like I, when I go to Vegas, I'm like, I'm spending $20 on the slots and that's it.

Yep.

Right.

You live it.

You know why?

Because I'm not going, I'm literally going to spend it.

I'm going to lose it.

I count on losing it.

That's my.

And this, and this is why I tell people that invest in crypto, I go, look, that's totally

appropriate.

There's a lot of money in crypto as well, but you need to be honest with yourself and

they go, what do you mean?

And I go, that's not an investment.

It's a bet.

No, that's not true.

And I go, does crypto have any cash flows?

No.

Do they own any assets?

No.

Can you project their cash flows out of the future?

No.

Okay.

So it's a bet.

Okay.

Period.

Right.

It's a bet.

It's a bet.

It's a bet.

And, but the one other thing I would tell young people is even though I say don't bet

on it, download the app and watch these things.

Start understanding the game of probabilities.

Start looking at how those probabilities weigh into each other.

Start looking at the way markets price them.

Start looking for price inefficiencies, right?

Meaning we should have all laid money that the US was going to bomb Iran.

The second that carrier moved into the straighter home, you should have done it, right?

But in understanding these things, the other thing that though I want young people to understand

is watch how much more often betting markets are right than any pundit you listen to, right?

Right.

Because you got skin in the game.

Yeah, 100% and it's people it's people putting you can always trust information more

when somebody's got skin behind it, right?

Meaning, oh, you're really sure about that?

Yeah, 100% want to bet on it.

No.

Right?

Well, you'll walk into a betting market.

And everybody's laid down some skin.

So it's it, you're going to watch these markets proliferate.

You're going to watch them play a bigger and bigger role into society.

You're going to watch them get used more to hedge things.

So is it a good thing?

I don't think so.

Just because I think that we have overfinancialized everything.

Everything now is a video game that can potentially pay you money.

Social media is YouTube is video game, you know, everything is.

And so I think it really encourages people to live in an artificial environment.

So I'm not a fan of that.

But will there be like just like social media, right?

People say how bad social media is.

I will tell you right now, bull work would not be in the place that we are without social

media.

Oh, yeah.

Absolutely.

Yeah.

Right.

So it's all about how you use it.

People that use it correctly.

I think it's going to be wonderful.

Right?

But I mean, there's going to be a lot of addition to like placing a bet that you are controlling

the outcome of, you say that again, Mark said I said placing a bet that you are actually

controlling the outcome of is that's that that seems unethical on every level.

You know what I mean?

Oh, yeah, it is.

And that's going to be one of the tough things about regulating these markets, right?

And you're going to see, I really, I don't even want to go too far down that path.

But I don't understand how you're going to get around not seeing bad things happen because

people bet on it.

Right.

Yeah.

Yeah.

And that's scary.

That's really scary.

Oh my God.

And I don't want to be the person thinking about worst case scenarios, but when I look at

human beings and the way we are, the craziness you see in the world today, do you think they're

people out there that wouldn't make a bet that would pay them a million dollars and then

go do something horrific?

Oh, yeah, they do.

That would happen.

Absolutely.

If a guy went streaking for 250 grand, yeah, people will do it.

I mean, I had to go and streake it for less, but this is what we love you.

And this is why we send everybody to your podcast and to your seminars.

And people really should love talking to you because you're an actual conservative and

you're shameless about it.

And so our audience should all be putting their money with you.

Tell us, tell them how they can do that.

That's a good, well, thank you.

So easy to find boar capital management.com, know your risk podcast.com.

That's our podcast that we put out every single day.

Try to keep it to 25, 30 minutes cover everything important in the world of economics and finance

with no nonsense.

So yeah, just boar capital management.com.

Know your risk podcast.

We're in a hard to find.

Awesome.

Thank you.

Thanks, ladies.

Every day, excessive delays and denials from big insurers keep patients from accessing

the care they need.

And when care is urgent, these delays can be disastrous.

These practices cost billions in wasteful spending, driving up costs for American families.

But while big insurers put up barriers, America's hospitals and health systems are in your

corner.

Navigating endless reviews and appeals to get you the care you need when you need it

most.

You need to curb these harmful practices and put the focus back on patients.

Brought to you by the Coalition to Strength in America's Health Care.

Drew McIntyre here from WWE, wielding the Claymore can be a life of chaos.

But I'm not dominating in the ring.

Chumba Casino is how this warrior takes a wee break.

With hundreds of online social games and new weekly releases, there's always something

fresh to try.

And those daily boosts, next level, even my free time feels like foul howling.

So when life feels like a battle, kick up your feet, have some fun, and let's chumba.

No purchase necessary, VGW Group Boyd were prohibited by law CTs and Cs, 21 Plus, sponsored

by Chumba Casino.

Hi, this is Alex Cantrowitz, I'm the host of Big Technology podcast, a long time reporter

and an on-air contributor to CNBC.

And if you're like me, you're trying to figure out how artificial intelligence is changing

the business world and our lives.

So each week on Big Technology, I bring on key actors from companies building AI tech

and outsiders trying to influence it, asking where this is all going, to come from places

like Nvidia, Microsoft, Amazon, and plenty more.

So if you want to be smart with your wallet, your career choices, and meetings with your

colleagues and at dinner parties, listen to Big Technology podcast wherever you get your

podcasts.