🗞️ Bandit Betting Newsletter: Jay Leno the gambler?

Welcome back to the Bandit Betting Newsletter, where we deliver the top stories in sports and gambling directly to your inbox, every Sunday.

In today's email:

• Jay Leno: beat up over massive gambling debts?

• United Healthcare CEO Betting: halted over backlash of alternative betting markets (Kalshi, Polymarket).

• Bet of the week (BOTW): season long 5-leg parlay for $250 paid out $108,335.

Let's gamble...

JAY LENO

The former tonight show host was quick to deny rumors… but we’re not convinced.

Jay Leno recently addressed rumors about his injuries and gambling-related mob involvement during an appearance on Bill Maher's Club Random podcast.

The 74-year-old comedian joked about the idea of the mob not settling debts by taking one of his nearly 200 collectible cars but clarified he’s not a gambler and dismissed the claims.

Leno shared a story from his early days as a stand-up comedian, recounting an encounter with a mob member at the East Coast comedy club Catch a Rising Star.

After a performance, the mobster handed Leno $100, but he politely declined, suggesting the money go to charity.

The mobster admired Leno’s discretion, saying, "You’re a smart kid." Leno noted that he was never troubled by the mob but witnessed comics being beaten for crossing the line onstage.

Regarding his injuries, Leno explained that they came from a fall down a steep hill in November. The incident left him with a broken wrist, severe bruising on his left side, and the loss of a fingernail.

He wore an eye patch during recovery and joked that losing $100 would upset him more than winning $1,000, as he’d rather spend the money on a dinner with his wife.

Despite the rumors, the sustained injuries look like more than a tumble. But I leave that up to you to decide…

BETTING MARKET REFORM

Bets tied to CEO Murder call for betting market correction and reform.

Kalshi Inc., a regulated exchange based in New York, recently offered event contracts related to a high-profile crime, sparking controversy over the ethics of such betting.

The contracts, tied to the case of Luigi Mangione, included wagers on his extradition, whether he acted alone, and his potential conviction or guilty plea.

However, trading was abruptly halted on Dec. 13 after regulators stepped in, according to customer messages reviewed by Bloomberg News.

The Commodity Futures Trading Commission (CFTC), which oversees Kalshi, has a policy against allowing futures trading on criminal events, arguing such contracts are against the public interest.

Both the CFTC and Kalshi declined to comment on the specific case.

Critics, like Cantrell Dumas of Better Markets, argue that such contracts blur the line between legitimate economic tools and pure gambling, exploiting human tragedy for profit.

"It’s straight gambling," Dumas stated, highlighting the ethical concerns of wagering on violent crimes.

Unregulated platforms like Polymarket, a crypto-only exchange, have continued offering similar contracts, although Polymarket claims it has excluded U.S. users since 2022 due to a prior settlement with authorities.

This isn't the first time Kalshi has faced regulatory scrutiny.

Earlier this year, the CFTC attempted to block Kalshi from offering election-related bets, citing concerns over public interest.

While a U.S. appeals court temporarily lifted the ban, the broader question of the CFTC's authority to regulate such contracts remains unresolved.

The controversy shows the tension between free markets and moral boundaries in the growing field of event-based trading.

BET OF THE WEEK (BOTW)

The 5-leg parlay at +43234 odds cashes for $108K 🫢  

X user @rmillerDFS posted his six figure ticket this week which set the betting world on fire.

The bet featured 5-legs:

• Josh Jacobs 10+ Rush TDs

• Dontayvion Wicks 5+ Receiving TDs

• Jaxon Smith 5+ Receiving TDs

• Ladd McConkey 5+ Receiving TDs

• De’von Achane 5+ Receiving TDs

Users were most impressed with Achane to score 5+ receiving touchdowns at +600.

Other users commented on how most of these players are lesser-known which is even more impressive for the person who created this ticket.

Hats off to this guy on turning just $250 into over $108K 👏 

MEME

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