Preshow and halftime performers include Usher , who will headline the halftime show, Reba McEntire , who will sing the national anthem, and Andra Day , who will perform "Lift Every Voice and Sing," which is widely known as the Black national anthem.

Aliza Chasan is a digital producer at 60 Minutes and CBSNews. She has previously written for outlets including PIX11 News, The New York Daily News, Inside Edition and DNAinfo. Aliza covers trending news, often focusing on crime and politics.

Football fans try their luck wagering Super Bowl bets. Aliza Chasan Aliza Chasan is a digital producer at 60 Minutes and CBSNews. Thanks for reading CBS NEWS. Please enter email address to continue. Please enter valid email address to continue.

More from CBS News. One killed, 2 wounded in shooting in dental office near San Diego. Actor Will Forte says "Coyote vs. Acme" film likely never coming out. Haitian gangs launch coordinated attack, vow to oust prime minister. dollar, and the switch to Bitcoin as the primary global currency.

Balaji is going to lose his bet with Medlock. On Twitter, Balaji wrote an explanation of how and why he expects hyperinflation to happen:. We have to define hyperinflation in BTC vs USD terms because all other fiat currencies can and will be inflated away. That is hyperbitcoinization.

This is the moment that the world redenominates on Bitcoin as digital gold, returning to a model much like before the 20th century.

What's going to happen is that individuals, then firms, then large funds will buy Bitcoin. Then sovereigns like El Salvador nayibbukele and tiny crypto friendly countries. The big move will be when a US state like Florida or Texas, or a "normal" country like Estonia, Singapore, Saudi, Hungary, or UAE buys Bitcoin.

And when narendramodi tells India's central bank to buy Bitcoin, even as a hedge, it's over. Why will it be so fast? Well, hyperinflation happens fast. We've seen digital pandemics COVID , digital riots BLM , and digital bank runs SVB.

Everything will happen very fast once people check what I'm saying and see that the Federal Reserve has lied about how much money there is in the banks. All dollar holders get destroyed. The thing is, people are still tuned to an analog world where things get gradually worse rather than all at once.

But there isn't much forewarning for a digital event — it's 1 and then it's 0. Just like the bank runs, except this is the central bank. There are however two sources of forewarning.

Much of the smart money has been voting against the dollar since the financial crisis. The end is a digital drop off a cliff, almost invisible on the chart — but highly visible in the world.

This tweet is the second forewarning. It'll be ignored and mocked by people who still trust the US establishment, even after the last few years. Who can't imagine that the US banks and media could be lying to them to this extent. But they are. Just as they did in , and over the last ten years.

The digital devaluation of the dollar is coming and it's going to be intense. In other words, Balaji is not just betting on a U. hyperinflation would happen faster than any hyperinflation has ever happened in any country in recorded history.

Basically, he thinks that hyperinflation will come as a result of a massive failure of U. banks insolvent, by lowering the values of their bond portfolios. This, he believes, will cause depositors to flee the banks for the safety of Bitcoin.

There are several reasons to doubt this chain of causality. Instead, they typically cause deflation. The worst wave of bank failures in U.

history came at the start of the Great Depression, when about one in three banks failed. Why did bank failures cause deflation in the Depression? Because people responded to bank runs by making fewer purchases, which caused companies to lower their prices. Companies also laid off workers, which caused the laid-off workers to spend less, exacerbating the vicious cycle.

Tyler Cowen put it succinctly in a blog post earlier today:. Left unaddressed, that is radically deflationary. Demand and other deposits will disappear, crushing aggregate demand.

Cascading financial failures will occur elsewhere, again with negative demand effects. Instead of keeping cash under their mattresses or rolled up in old socks when the banks fail, Americans will now trade their dollars for Bitcoin, thus crashing the value of the dollar.

That is, to put it bluntly, incredibly unlikely. First of all, Americans in may not have had Bitcoin, but they had gold, and yet there was no flight from dollars to gold — in the U. or any other country. Second, Bitcoin is a risky asset, and if Americans want to move their cash from banks to risky assets in response to a wave of bank failures, they can just buy stocks and real estate instead of Bitcoin.

But even more importantly, a massive bank failure means that bank lending will also crash. If there are no banks, there are no banks to make loans! And bank loans, as we all know from Econ , create money. Fewer loans means fewer new dollars. And when dollars become more scarce, the value of dollars goes up.

That is called deflation. But in fairness to Balaji here, there is a way that bank weakness could lead to greater inflation. The scenario, which I outlined in a post last week , starts with the fact that in order to prevent bank failures, the Fed is loaning money to banks.

This pumps more money into the economy, which partially cancels out the effect of interest rate hikes which take money out of the economy. In other words, those emergency loans represent a form of monetary easing.

Never a stranger to big bets, Mattress Mack stands to win millions on the Houston Cougars if they cut down the nets At +, McIngvale stands to win $ million at Caesars Sportsbook if the Cougars do win March Madness The furniture tycoon and notorious Free Bet Blackjack. Richie Roulette. Blackjack. Games. More. Crash Extreme. Crash Infinity. Lucky Spin. Red Hot Line 2. Decimal. Odds Format. English. Language

Video

Million bet - Washington, D.C. – A record million American adults (26%) are expected to bet on Super Bowl LVIII, a 35 percent increase from Never a stranger to big bets, Mattress Mack stands to win millions on the Houston Cougars if they cut down the nets At +, McIngvale stands to win $ million at Caesars Sportsbook if the Cougars do win March Madness The furniture tycoon and notorious Free Bet Blackjack. Richie Roulette. Blackjack. Games. More. Crash Extreme. Crash Infinity. Lucky Spin. Red Hot Line 2. Decimal. Odds Format. English. Language

Share this article share. on Facebook. Error Please enter an email address. Success Thanks for signing up. Please check your email for a confirmation.

Error Something went wrong. Drake's wager on the online sports betting platform Stake. com, with which he has a partnership , has Chiefs fans wary of the notorious " Drake curse. Du Plessis took the win. While Paul won, there was no knockout.

The singer is far from alone in placing a bet ahead of the Super Bowl. Nearly 68 million American adults — about 1 in 4 — plan to bet on this year's Super Bowl , according to the gambling industry's national trade association. Kickoff is scheduled for p. Preshow and halftime performers include Usher , who will headline the halftime show, Reba McEntire , who will sing the national anthem, and Andra Day , who will perform "Lift Every Voice and Sing," which is widely known as the Black national anthem.

Aliza Chasan is a digital producer at 60 Minutes and CBSNews. Arizona is the No. Houston is currently ranked No. Mattress Mack is one of the most well-known sports bettors in the country, and he has good business reasons for wagering on local teams.

In , he bet heavily on the Houston Astros to win the World Series against the Atlanta Braves. The bets came as his stores ran a promotion that would refund mattress buyers if the Astros won the World Series.

McIngvale went even bigger for the Super Bowl in The list of bubble teams includes a recent national champion and a perennial power with a year tournament streak on the line. Bush returned his Heisman Trophy after an NCAA investigation found that Bush and his family received impermissible extra benefits.

Guiherme Ceretta was seen in multiple photos on social media wearing an Inter Miami kit. Kylian Mbappé reportedly believed that PSG's manager was subbing him out in retribution.

Sanderson was hired by Michigan in by former men's head coach John Beilein. Verstappen beat teammate Sergio Perez by over 22 seconds.