Hold Me Back Podcast: Real-Money Gaming, Game Theory, Negotiating, and Poker Strategy

What started as an episode on teen gambling took a turn into a fascinating conversation with the polymathic Dan Singer, one of the world’s leading experts on the businesses of online gaming, casinos, sportsbooks, daily fantasy sports, poker, and eSports. All in this week’s episode of Hold Me Back. Listen to the episode on Apple Podcasts, Spotify, Google Podcasts, and your other favorite podcast platforms.

• Episode Summary & Player
• Show Notes
• Hold Me Back Summary

Real-Money Gaming, Game Theory, Negotiating, and Poker Strategy

What started as an episode on teen gambling took a turn into a fascinating conversation with the polymathic Dan Singer, one of the world’s leading experts on the businesses of online gaming, casinos, sportsbooks, daily fantasy sports, poker, and eSports. In addition to teaching Game Theory in Negotiations at Yale, Dan leads the Global Sports and Gaming Practice for the largest and most well-known strategy consulting firm in the world – where he serves major leagues and gaming companies. Dan is a regular contributor to Sports Business Journal and his research has been cited by The New York Times, The Wall Street Journal, and ESPN. He’s also a part-time pro poker player and has ranked in the Top 40 in the American Crossword championships. After listening to Dan, Ash and Aidan can’t wait to play poker (or perhaps, never play it again)! This episode covers everything from teen gambling to negotiating. Here’s a small sample of what you will hear in this episode:

• What is Game Theory?
• Does Game Theory assume the players act rationally?
• What scenarios do people use Game Theory in?
• Does Game Theory apply to sports betting?
• Are sports lines being set using AI?
• Does Game Theory apply to Daily Fantasy Sports?
• Is Dan consulting with gambling companies to help them make people lose their money?
• How does betting on eSports differ from traditional sports betting?

Who was more convincing: Aidan or Ash? Vote at the bottom of this post.

Enjoy the show! Check out the show notes below for much more detail.

Show Notes

• Intro to Real-Money Gaming, Game Theory, Negotiating, and Poker Strategy
• [0:00] This podcast has been named a Common Sense Selection by Common Sense Media, recognized for its outstanding content for kids and families.
• [0:10] This episode of Hold Me Back is brought to you by WellNow. Walk in or book online at WellNow.com
• [1:42] Welcome to Hold Me Back
• [1:49] Meet Aidan (Gen Z) & Ash (Gen X)
• [3:13] Dan Singer
• [7:32] Does Aidan see a lot of gambling at school?
• Interview with Dan Singer
• [11:02] What is Game Theory?
• [13:22] What is Prospect Theory?
• [13:31] Daniel Kahneman
• [14:52] Expected Value (EV)
• [16:49] Gambler’s Fallacy
• [19:44] Does Game Theory assume the players act rationally?
• [21:44] John Nash, A Beautiful Mind
• [24:40] Pareto Principle (80-20 Rule)
• [27:22] What scenarios do people use Game Theory in?
• [31:27] Does Game Theory apply to sports betting?
• [32:42] “For daily fantasy-sports operators, the curse of too much skill“
• [34:12] NFL (National Football League)
• [34:42] Are sports lines being set using AI (Artificial Intelligence)?
• [39:21] Cognitive Bias
• [39:55] Does Game Theory apply to Daily Fantasy Sports (DFS)?
• [42:32] Covariance
• [44:41] DraftKings, FanDuel
• [50:41] API (Application Programming Interface)
• [51:08] The Matrix Reloaded
• [52:34] Starbucks
• [53:38] Is Dan consulting with gambling companies to help them make people lose their money?
• [55:27] DSM-5
• [58:11] How does betting on eSports differ from traditional sports betting?
• [58:56] League of Legends
• [59:18] Revenue
• [1:03:11] Startups
• [1:03:42] How did Dan end up teaching a Game Theory course at Yale?
• [1:06:23] PENN Entertainment (Penn National Gaming), Barstool Sports, Barstool Sportsbook
• [1:09:10] Chris Voss
• [1:10:17] Behavioral Economics, Psychology
• [1:10:27] Influence by Robert Cialdini, G. Richard Shell
• [1:15:49] Interest Rates
• [1:18:29] Podcast
• [1:20:31] Marriage Counseling
• [1:21:00] Analytics
• [1:23:54] Facebook, Snapchat, Instagram
• [1:24:28] LinkedIn
• Outro
• [1:31:43] Thank you for listening! Follow Hold Me Back on HoldMeBack.com and on Instagram & Facebook
• [1:31:48] Leave us a 5-star written review on Apple Podcasts
• [1:31:52] Who was more convincing: Aidan or Ash? Vote below

 

 

Thank you for listening to Hold Me Back. To hear more episodes, follow Hold Me Back at HoldMeBack.com.

WHAT IS HOLD ME BACK?

Gen X and Gen Z live together, but we occupy different worlds. As the generational gap widens and conventional wisdom on parenting and education fails, is it even possible to understand one another? In this unique son-and-father podcast, Aidan & Ash ElDifrawi hash out a new contract between generations, forcing them to violate comfort zones on today’s most charged topics: social media and screen time, bullying and loneliness, inequality and privilege, sex and drugs, education and etiquette, even politics, religion, and sports. All to uncover a path toward greater harmony and a hopeful future for the next generation.