Yeah

...

FanDuel, and then, and then the kind of recent court ruling.

And I think, and I don't even need to do it from my side.

Like, I think, uh, I can get, sort of lay the facts, uh, and then explain the ruling.

So, uh, FanDuel, uh, today, uh, sort of is a, is the largest, uh, sportsbook and casino in the US.

Uh, I think they did about 7 billion in revenue last year.

Mm.

So then in that case, why would they go to AI? That's really good.

Yeah, let me touch on both of those.

So the social one's kind of easier.

I would challenge you to go on a live dealer, go on a blackjack table, just randomly, go on like 10 of them, I'd say 9 or 10 of those tables, you'll see zero comments.

And so the idea that it's social is like, we're not seeing that.

People are not interacting with the dealer.

The dealer also... isn't really incentivized to turn it into a social experience.

You know, interesting when AI girlfriends, it is a phenomena.

was like no or not one game not one game right

and so you know the funny thing was we were kind of both wrong right neither of those were the line the line like and you know the line was much more to the more aggressive side than any of us really understood and and I actually you know I was learning from me and other businesses like you know the world changes, you know, and sometimes, you know, an entrepreneur builds a product, the laws are like on clear.

A lot of people in the industry will say, no, that's over the line.

And what you discover is there's kind of no real line.

You've got to, well, there is a line somewhere, right? There's a line, but it's more of like, how do you, you know, how does like, is the, do people really love playing the product? can you engage with regulators and interested parties that, you know, if you need to kind of really set the line, you can kind of figure out where the line, there always should be a line.

Like, that's the thing is like, there's, you know, and I, you know, we in our business, we've always been like, well, there's certain things that consumers should be protected.

You know, there's, you know, like, you know, products should never be fraudulent.

right.

So, basically the the dealer facilitates the social experience side of the table um and the premise is that ai can do this much better than the average live dealer um yeah Is there also a matter of building up some sort of relationship between the player and the dealer? Would people want to go back to the same dealer? Would they want a new one every single time? Would they want one that only deals to them? What are people thinking in

here? The answer is both.

The first thing I want to touch on is something you just said there, which is the average.

Where we are headed towards, because the average is much lower than you think in terms of quality of existing live dealers.

We are aiming to be top 10%, top 20%.

We're not going to be the best, certainly in any time in the next six months, but we can be better than 80%.

Second thing that we can do is imagine you were, imagine you're the sort of guy who plays, you know, 100,000 a hand.

Like somebody just told me

But I'm cur- just I'm curious, Nigel, if you think that that alone is enough to convince the market that prediction markets are indeed better for consumers.

Y- yeah.

Well, actually, like I've been involved prediction markets since 2000, so before Flutter was a, um, the parent company was, it was actually a person-to-person betting exchange, and it merged with Betfair in 2001, and I was actually part of that transaction.

Uh, I also launched Betdaq in 2003, which was a betting exchange based out of Dublin.

Uh, so I've been a huge fan of what we used to call betting exchanges, we now call them prediction markets, for about 25 years.

Um, I'd say what my experience has been with them is, for a certain end of the market, betting, betting exchanges are better.

Um, and so those are gonna be your really price-sensitive customer, um, the, and certainly your professional, semi-professional, and should we call them aspiring professional, um, because aspiring professional is a good name for it because a lot of these people are not.

... playing out?