He Invented Online Betting...Then Went To Prison For It - Jay Cohen

Open Book with Anthony Scaramucci · Jul 7, 2026 · 26m

He built a betting exchange three decades ahead of its time, got prosecuted for it while John Roberts almost took his case, and served time for something states are now making legal one by one. This week on Open Book, Jay Cohen, the man the pro sports leagues crushed, tells me what really happened and why the house always wins in the end.

Jay Cohen is the co-Founder and former President of World Sports Exchange, the first fully online betting site. Prior to World Sports Exchange, Cohen worked as an options market-maker for Group One Trading on the floor of the Pacific Stock Exchange. Cohen…