Thread by @billsperos

"Can't Miss Parlay" Hearing Underway:

Cathy Stein clarifies that NO FINDING will be issued today -- as noted below and previously reported

@barstoolsports #GamblingTwitter

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https://twitter.com/billsperos/status/1666231819035893761

IEB: On March 12 made aware of "Big Cat's Can't Lose Parlay" from 3/10 which was a "regularly-featured" item on the app

Featured 4 college games

@stoolpresidente posted betting slip of $13K+ on parlay

Penn subsequently made IEB aware of parlay and said it would stop it MA

@stoolpresidente Jonathan Albino (PSI): We ask that "Can't Lose Parlay" and Mr. Portnoy's Tweet did not constitute a violation of state statues

No reasonable person could assume they were engaging in a risk-free bet

No "CLP" offerings have been made since and will permanently terminate offer

Albino: "CLP" is humorous and satirical reference to @BarstoolBigCat's "terrible reputation" as a gambler.

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Albino: 55% of "CLP" players were repeat players and 90% lost their first bet

"Surely they would not have come back"

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Albino: Links on @BSSportsbook app explain all types of available wagers, including those that detail risk/reward associated with parlays

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Albino: 15 regulated states have allowed "CLP" and PSI has no record of any consumer complaints

Says Massachusetts residents understand that this is not a sure thing (is from Massachusetts)

Social media discussions about "CLP" understand this and are "in on the joke"

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Albino: Legal standard same that applies to "World's Best Pizza" or "Buffalo Wings" that don't contain buffalo, or that "Crunch Berries" contain berries

"No reasonable person" would believe that "CLP" is a reasonable wager

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Albino: Mr. Portnoy's Tweet's was factual and contained an RG message

His followers are aware of his substantial wealth

Other books - @BetMGM @FDSportsbook - share posts about large-money wagers (i.e. Mattress Mack)

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MGC's O'Brien: 2021 letter to American Gaming Association Penn said it was no longer offering "CLP"

Chris Soriano (PSI counsel): At that time, it was not an active wager. We have offered it since. And we have suspended it since and will stop using it going forward

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Soriano: We will sign a document that we will cease further using the "Can't Lose Parlay"

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O'Brien: Losers may not out themselves so is social media data skewed? How many of the overall bettors were Tweeting? What portion of the bettors who lost were represented?

Erich Schaffer (social media analyst): Did not measure overall sample size of losers.

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Maynard: Does PSI know how many people who @barstoolsports also wager on the @BSSportsbook?

PSI: No

Maynard: Are there potentially partrons who are not aware of irony?

PSI: No reasonable person could look at odds and think it's risk free. That's the legal standard

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PSI (Albino): Absence of consumer complaints is positive. If consumer complaints would be relevant, so is absence of consumer complaints.

We can't know if someone if someone bought Crunch Berries and thought it was a healthy meal.

Would a reasonable person think that?

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Skinner: If I'm not a fan of @BarstoolBigCat or follow @barstoolsports and see "CLP" and am not fully informed - - what would tell me as a bettor that I am more likely to lose than win it?

PSI (Soriano): Wager lists 4 legs and other info is available, clear this a bet

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Skinner: Why not call it the "Can't Win Parlay"?

PSI (Soriano): Born out of @BarstoolBigCat's social presence and history as a bad gambler. Meant to be satirical and not meant to be a guarantee.

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Stein: Where is it on the app that says that you are "highly likely" to lose?

On "Cap'n Crunch" box, it says somewhere these are not real berries.

"Berries mean berries, until somebody tells me differently . . . what is the standard we should apply?"

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PSI (Albino) The odds to win are the ingredients on the box. I see long shot and I need to win 4. And this is on a betting app.

Stein: Language says "free of risk" is prohibited . . . is there a difference between that and "can't lose."

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PSI (Albino): In apply regulation one must look at context is made. The correct legal analysis is that we must examine the context and determine if a reasonable person would conclude this.

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Hill: Fan of @BarstoolBigCat but says there are new bettors in Massachusetts

"What do we call a reasonable consumer with gambling issues? . . . a majority would know this was a joke. But what is a reasonable consumer in a new industry."

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Hill: "Majority knows it's satire, but what about 10% who are young, or who have mental health issues, or have RG issues."

PSI (Albino): MA legislature allowed sports betting. MGC has power to regulate advertising. But state law requires "reasonable person" standard

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PSI (Albino): "In defense of the average Joe, he knows a bet is a bet. . . . no reasonable person thinks having to win four bets is a sure thing."

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PSI (Albino): MA legislature allowed sports betting. MGC has power to regulate advertising. But state law requires "reasonable person" standard

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For reference in this @MassGamingComm hearing over @barstoolsports

Here is a Cap'n Crunch Crunch Berries box and ingredients

Cornerstone of the legal argument in support of Penn Sports Interactive's case that a reasonable person would know "CLP" is not risk-free

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O'Brien: You can't say "free" or "risk free" . . . and maybe you can't say "can't lose."

I don't accept your representation that just knowing bets have risk

Cites: Pepsi Harrier Jet ad in which they eventually added "just kidding"

FWIW- Pepsi won that case

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Hill: How are you in compliance regulation governing advertising and marketing?

PSI (Albino): When applied, once has to look at, read in context, is it misleading? Would a reasonable person think this was free money? SJC false advertising cases all say the same thing.

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PSI (Albino): "There's no buffalo in Buffalo Wild Wings and people understand that."

"Combination of factors here does not support assumption that reasonable person would think this was a sure thing."

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PSI (Albino): "Yes" it would be unreasonable to think you can win on the "Can't Lose Parlay"

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Maynard: "I'm worried about the one person who doesn't understand the irony and doesn't know about @BarstoolBigCat"

Skinner: More I listen, the more I am troubled. "Why are people betting such large amounts on a wager that is a sure loser and promoting (it)?"

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Skinner: "It's like were taking money out of people's bank accounts. If no one can win, what is the point?"

Irony of the day: The 3/10 parlay in discussion that triggered this investigation won

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PSI (Soriano): PowerBall jackpots that are heavily promoted and many people play despite the high odds

Parlay's are challenging wagers and is harder to win

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RECAP AFTER 90 MINUTES

Penn/Barstool: Reasonable person can conclude - even without knowledge of @BarstoolBigCat's terrible betting history - that "CLP" is not a sure thing

Context is vital, bettors return despite losing, and there have been no consumer complaints

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Now Up:

O'Brien: @stoolpresidente Tweet posting $13K+ bet on "Can't Lose Parlay" and how that did not run afoul of regulations not endorsing a particular bet?

Link to regulation:

casetext.com/regulation/cod…

Albino (PSI): Every factual assertion is true (CLP not withstanding) and does contain responsible gaming

Amount of wager is a permissible bet for a man of his means

That's more a rule issue than a regulatory one

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Albino (PSI): It's a Tweet by a personality who is disseminating information about a bet . . . we're not walking away from that.

Our defenses are on the merits of what he said

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10 MINUTE BREAK

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The Latest Story -- will be updated after the hearing.

bookies.com/news/massachus…

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Hearing Resumes

Skinner: Are @stoolpresidente and @BarstoolBigCat receiving any direct payment from PSI to offset for the "CLP" or any other wagers they are promoting.

PSI: "No they are not"

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Attorney Albano Close:

Once PSI became aware of MGC's concerns about "Can't Lose Parlay" @barstoolsports stopped parlay and will put it in writing that they will not resume

When CLP first offered in MA, it had been offered in 15 jurisdictions with no complaints

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Albano: Portnoy's Tweet was shared in good faith

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Albano: Ask that history of CLP and lack of any intention to run afoul of MGC's regulations be a part of any decision, if only as a mitigating factor

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MGC will deliberate in private and issue a written decision at late time (as noted earlier)

Matter remains open and MGC could have further questions

HEARING ADJOURNED

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