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Joe Rogan Betting Admission Reveals Gray Area

Rogan’s admission raises a question as to just how ethical it is to place bets with insider information, and whether it should be legal or not.

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Joe Rogan

For nearly a decade, I’ve been fortunate enough to cover the football and basketball programs for the University of Kentucky in some form or fashion. Whether writing for blogs or working with ESPN Louisville as co-host of the post-game show, I’ve gotten to know people around the program I grew up supporting, and other individuals in the media doing the same. I’ve made some terrific friendships and cultivated quite a few relationships that provide me with “inside information” about the teams.

As an avid sports bettor, that information has sometimes put me into some difficult personal situations. There have been times when I’ve been alerted to player news that wasn’t public, such as a player dealing with an injury or suspension. It’s often been told to me off-the-record, and I’ve never put that information out publicly or given it to others.

I wish I could also say I’ve never placed a wager based on that information, but that would be a lie. While it’s been a long time since I’ve done so, I’ve ventured into that ethical gray area of betting on a team that I’m covering. I’ve long felt uncomfortable doing so, and I’d say it’s been a few years since I last did it.

At least I know I’m not alone. On his latest episode of The Joe Rogan Experience, Rogan told guest Bert Kreischer that earlier in his UFC broadcasting career he regularly bet on fights. He claims to have won nearly 85% of the time (which I highly doubt but that’s another discussion for another time), either via bets he made or ones he gave to a business partner to place on his behalf.

From his comments, Rogan doesn’t seem to have been using sensitive information to gain an edge with the books, but he also didn’t state that he didn’t. He indicates that much of his success stemmed from knowing quite a bit more about fighters coming from overseas, and he said he “knew who they were and I would gamble on them.”

But Rogan undoubtedly has long been in a position where he knows which fighters might be dealing with a slight injury, or who are struggling in camp with a specific fighting style. It’s unavoidable for someone whose job puts him into contact with individuals who tell him things off-the-record and divulge details without perhaps even realizing it.

But let’s say Rogan did get that information, and did use it, and was still doing so today. The fact is…there’s nothing illegal about it, not in the United States at least. While it’s against the rules of some entities — the NFL, for example, has stated they could suspend or ban for life individuals who use inside information or provide it to others — it’s not against any established legal doctrine. Unlike playing the stock market, insider betting is not regulated by any central body or by the government.

However, Rogan’s admission raises a question as to just how ethical it is to place bets with insider information, and whether it should be legal or not. Many of the after-the-fact actions that have been taken in the realm of legalized sports betting in this country, or those being discussed currently (such as advertising limitations), fall in line with changes made in Great Britain following their legalization.

One of their big changes was making it illegal to utilize insider information, with very specific definitions about the “misuse of information” and what steps the Gambling Commission may take. It lays out what information can be used, the punishments that may be levied, and at what point it might venture into criminality.

Sportsbooks do have recourse in some instances to recoup money on insider betting, but not many. If they can prove that a wage was influenced, they can cancel the bet or sue for the money. The most well-known instance is the individual who bet $50,000 at +750 odds that someone would streak on the field during Super Bowl LV –which he did– and then was denied the payout when he bragged about his exploits. But unless someone foolishly tells the books that they’ve taken them with information that the public wasn’t privy to, they have little to no chance of doing anything about it.

There are ramifications to insider betting that raise truly ethical dilemmas. Just like stock trading, information can be immeasurably valuable to those with stakes large enough to change prices. If I’m placing a $20 prop bet with the knowledge that a team’s starting running back might be out for a game, or dealing with an ankle injury, I’m not going to harm anybody else playing that line. But if I give that information to a shark, who places a $20,000 wager on that same line, I’ve now enabled someone to move a line and impact other bettors.

Online sports betting in this country continues to grow, and every day we are reminded that there are still aspects of the space that can feel like the wild west. As individuals in the media, we have to decide personally what our ethical stances are in situations like this. We also have to keep in mind the impact that betting can have on our biases–especially if we’ve bet using inside information. A prime example is Kirk Herbstreit, who won’t even make a pick on College Gameday for games he is going to be doing color commentary for lest he possibly appears biased on the call.

At one end of the spectrum, you have someone like Herbstreit, and on the other end, you have folks like Rogan who, while he no longer does so, was more than happy to not only wager on fights himself but gave the information to others. And in the middle, you have hundreds of people in similar situations, who might lean one way or another or who, like me, may have found themselves on either side of that ethical line.

There is no black or white answer here, nor am I saying there’s necessarily a right or wrong stance for anybody in the sports media industry to take. I would say that each person has to take stock of what they’re comfortable doing, and how they feel about insider information being used. Rogan didn’t break any rules or laws by gambling on the UFC, but his admission to doing so might be the catalyst towards it no longer being accepted.

Barrett Blogs

BSM’s Black Friday SALE on BSM Summit Tickets is Underway!

Jason Barrett

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Each year I’m asked if there are ways to save money on tickets to the 2023 BSM Summit. I always answer yes but not everyone takes advantage of it. For those interested in doing so, here’s your shot.

For TODAY ONLY, individual tickets to the 2023 BSM Summit are reduced by $50.00. Two ticket and four ticket packages are also lowered at $50 per ticket. To secure your seat at a discounted price, just log on to BSMSummit.com. This sale ends tonight at 11:59pm ET.

If you’re flying to Los Angeles for the event, be sure to reserve your hotel room. Our hotel partner this year is the USC Hotel. It’s walking distance of our venue. Full details on hotel rooms can also be found via the conference website.

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BSM Podcast

Media Noise: What Does The Return of Bob Iger Mean to ESPN?

Demetri Ravanos

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Demetri Ravanos has questions about Disney going back to the future with Bob Iger. This entire episode of Media Noise is all about what the change at the top of the Walt Disney Company indicates about the future of ESPN.

ITunes: https://buff.ly/3PjJWpO

Spotify: https://buff.ly/3AVwa90

iHeart: https://buff.ly/3cbINCp

Google: https://buff.ly/3PbgHWx

Amazon: https://buff.ly/3cbIOpX

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Barrett Blogs

Mina Kimes, Bruce Gilbert, Mitch Rosen, and Stacey Kauffman Join the 2023 BSM Summit

“By the time we get to March, we should have somewhere between 40-60 participants involved in the conference.”

Jason Barrett

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The 2023 BSM Summit is returning to Los Angeles on March 21-22, 2023, live from the Founders Club at the Galen Center at the campus of the University of Southern California. Information on tickets and hotel rooms can be found at BSMSummit.com.

We’ve previously announced sixteen participants for our upcoming show, and I’m excited today to confirm the additions of four more more smart, successful professionals to be part of the event. Before I do that, I’d like to thank The Volume for signing on as our Badge sponsor, the Motor Racing Network for securing the gift bag sponsorship, and Bonneville International for coming on board as a Session sponsor. We do have some opportunities available but things are moving fast this year, so if you’re interested in being involved, email Stephanie Eads at Sales@BarrettSportsMedia.com.

Now let’s talk about a few of the speaker additions for the show.

First, I am thrilled to welcome ESPN’s Mina Kimes to the Summit for her first appearance. Mina and I had the pleasure recently of connecting on a podcast (go listen to it) and I’ve been a fan of her work for years. Her intellect, wit, football acumen, and likeability have served her well on television, podcasts, and in print. She’s excelled as an analyst on NFL Live and Rams preseason football games, as a former host of the ESPN Daily podcast, and her appearances on Around The Horn and previously on Highly Questionable and the Dan Le Batard Show were always entertaining. I’m looking forward to having Mina join FS1’s Joy Taylor and ESPN LA 710 PD Amanda Brown for an insightful conversation about the industry.

Next is another newcomer. I’m looking forward to having Audacy San Francisco and Sacramento Regional Vice President Stacey Kauffman in the building for our 2023 show. In addition to overseeing a number of music brands, Stacey also oversees a dominant news/talk outlet, and two sports radio brands. Among them are my former station 95.7 The Game in San Francisco, and ESPN 1320 in Sacramento. I’m looking forward to having her participate in our GM panel with Good Karma’s Sam Pines, iHeart’s Don Martin, and led by Bonneville’s Executive Vice President Scott Sutherland.

From there, it’s time to welcome back two of the sharpest sports radio minds in the business. Bruce Gilbert is the SVP of Sports for Westwood One and Cumulus Media. He’s seen and done it all on the local and national level and anytime he’s in the room to share his programming knowledge with attendees, everyone leaves the room smarter. I’m anticipating another great conversation on the state of sports radio, which FOX Sports Radio VP of programming Scott Shapiro will be a part of.

Another student of the game and one of the top programmers in the format today is 670 The Score in Chicago PD, Mitch Rosen. The former Mark Chernoff Award recipient and recently appointed VP of the BetQL Network juggles managing a top 3 market sports brand while being charged with moving an emerging sports betting network forward. Count on Mr. Rosen to offer his insights and opinions during another of our branding and programming discussions.

By the time we get to March, we should have somewhere between 40-60 participants involved in the conference. My focus now is on finalizing our business and digital sessions, research, tech and sports betting panels, securing our locations and sponsorships for the After Party and Kickoff Party, plus working out the details for a few high-profile executive appearances and a couple of surprises.

For those looking to attend and save a few dollars on tickets, we’ll be holding a special Black Friday Sale this Friday November 25th. Just log on to BSMSummit.com that day to save $50 on individual tickets. In addition, thanks to the generosity of voice talent extraordinaire Steve Kamer, we’ll be giving away 10 tickets leading up to the conference. Stay tuned for details on the giveaway in the months ahead.

Still to come is an announcement about our special ticket rate for college students looking to attend the show and learn. We also do an annual contest for college kids to attend the event for free which I’m hoping to have ready in the next few weeks. It’s also likely we’ll give away a few tickets to industry professionals leading up to Christmas, so keep an eye out.

If you work in the sports media industry and value making connections, celebrating those who create an impact, and learning about the business from folks who have experienced success, failure, and everything in between, the Summit is worth your time. I’m excited to have Mina, Bruce, Mitch and Stacey join us for the show, and look forward to spending a few days with the industry’s best and brightest this March! Hope to see you there.

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