Long Pao

How to play Long Pao

Yashin had spent around 15 years building businesses across industries ranging from fashion technology and retail hardware to sneaker cleaning, as well as investing in early-stage technology companies. Yet when he attempted to place a football bet, he found the interface so impenetrable that he eventually headed to a betting shop to ask how to do it.

When he subsequently looked at casino games, something else struck him – the experience did not seem dramatically different from the slot machines he remembered seeing years earlier.

“I started thinking about how to combine the really great monetisation of randomness in casino games with the attention loop of social media platforms,” Yashin says. “The idea was: what if you could bet on the result of a short video or a short TikTok?”

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How to play Long Pao

Separately, the two senators wrote a formal letter to a bevy of pro sport leagues last October requesting additional details on the leagues’ interaction with integrity monitors on suspicious wagering.

Despite Tuesday’s memo, it is not immediately clear if any professional sports league commissioners are willing to testify before Congress on some of the most problematic aspects of sports betting.

Matt is primarily responsible for long-form feature coverage on complex sports betting scandals. He also provides coverage on finance, M&A and other technological developments.