The nuts and bolts of the Draft Kings leak
 

http://www.legalsportsreport.com/454...data-leak-faq/

Fascinating scandal firestorm. Curious to see the fallout. "DFS" operating pall mall but Monmouth can't run organized, legalized sports betting.

Hopefully this gives Congressman Pallone's questioning of the sites and promotion of fantasy play by the NFL etc some traction that would in turn help Monmouth's case for sports betting

More from Chris Grove regarding the DFS non-reaction reaction: http://www.legalsportsreport.com/462...nd-regulation/

video discussion on need for regs, on foxciting investments by nba and football owners invested in DK :eek:
http://finance.yahoo.com/video/fanta...104944129.html

Congress Is Waking Up To The Unregulated World Of Fantasy Sports http://m.huffpost.com/us/entry/56141db2e4b022a4ce5fc344

This came out Tuesday night....

http://www.nbcnews.com/news/us-news/...-sites-n439761

What I don't get with this Draft Kings/FanDuel thing is why they don't make the ownership percentages public from the beginning.

When we bet a horse that is 6-1 with 10 MTP, we all know that he might go off at 9-2, he might go off at 8-1, we have a relative idea of what to expect. We know that we get final odds, not the current odds when we place our bet.

Since they are running a parimutuel system (everybody bets in, they take a cut), why wouldn't they just publish the ownership percentages of the players from the outset? Wouldn't that solve any insider trading questions right off the bat?

Now, they would still have to show there is now past-posting and the like (not that there have been any accusations about that, but it is a logical question to ask). But insider trading accusations can be eliminated just by making the ownership percentages public from the beginning.

Unless they don't want to because their "high rollers" have told them they find their edge from figuring out the ownership percentages, which I guess is possible, then I don't know why they wouldn't just publish those percentages and be done with it.

I think the next shoe to drop is that the whales have been given access to this information ahead of time already. Read that 1.5% of players win 91% of the money...

This is the obvious edge. The ability to play multiple tickets using lesser owned "sleepers" is a huge advantage.

I don't see how this isn't sports gambling. I'm not for bigger government but they should just legalize all sports gambling, regulate and tax it.

If the part about the whales being given access to the info is true, that is probably a federal crime and then it's goodnight. I doubt they would be so dumb.

But as to a small % of the players winning 90% of the money, I saw similar numbers, but either way, that is misleading since not everybody plays the same number of entries. And some people are better than other people and put more time and effort in. You shouldn't expect an equal distribution since it is in fact a game of skill. In the lottery, you would expect 5% of the people to win 5% of the money, but that is not a game of skill.

Theses leagues are going down quicker than my high school prom date. It's like online poker...done.

Get used to going back to more commercials for the schlong pills.

This was the point I was trying to make in the other thread. The average player has a lotto type chance and they can't let that info get out. Now it is and they have pretty large weekly guaranteed pools. Should be interesting.

They were dumb enough to allow people with confidential information to use it betting on competitors sites. That should have been the first rule.

Well then they are going to have to decide to publish them or they will maintain their credibility problem. Heck, the government might come in and make them publish them in the first place. Would be interesting to see how much handle they lose.

Color me shocked that you bash anything non Vegas gambling related. I think they weather this but changes will occur. Will it be make the information available to everyone all the time which I think is a great idea or store it at a secure third party like a Price Waterhouse Coopers.

There's no regulation. Complete non disclosure. How about taxation? It's just not fair.

Or they just let too many people have the confidential information. They could sell it, give it to their buddies, etc.

Just make it available and we're done with this discussion point.

Fair? Funny how you don't mention that term when you gloat about New Jersey not being allowed to have Sports betting. As far as taxation is concerned I don't think these sites are stupid enough to not issue a W-2G for those hitting big pots.

I miss the days of fantasy football when you came in on Mondays with USA Today and hand figured out the scores.

fan duel announced permanent employee bans from dfs:

http://espn.go.com/chalk/story/_/id/...y-amid-inquiry

this is going to get really interesting.

This is the Draft Kings PR director, what could go wrong.

http://nypost.com/2015/10/06/pr-guru...ports-scandal/

"it's like a nightmare, it keeps getting worse." Tom Cruise
The color of money

This!

I remember monday afternoons, getting off of the school bus and heading straight to Tano's Deli for the Daily News for me to add up the fantasy numbers from the night before. A staple of my childhood, as my dad used to run a league for us kids and our best friends. He did weekly write-ups too that would leave us in tears of laughter. The good ol' days!

:D
:tro:

and i think he took a shipload of money out of the barn as he went....


i saw earlier that wyoming has shut down their historical racing games, that the same group who said they were ok has now said they aren't....but i bet you can do draftkings or fanduel in wyoming!

:tro: Laughed out loud, Knicks...Thanks!

Just a little update on how DFS is coming through the scandal from tonight's experience:

I started playing FanDuel in February this year...enjoy throwing $5 or $10 in a night on the NHL. Hockey is 2nd best sport behind the horses IMO. Anyway, tonight is NHL opening night and I entered 3 High Payout games for tonight... ON MONDAY because they "fill up" really quick. The $100,000 Guaranteed NHL game on a $5 play was open to first 22,994 entries (I know...sweet rake). This contest should have been filled by noon today...EASY, but when I checked at 6PM...16,000 entries with 1 hour to go. It closed at 7PM with 19,024 entries putting FD in a negative $4,880 position. All 3 Guaranteed Contests I entered tonight came up "Short" of Break Even(@$7200 total), much less the Rake. I have only noticed 1 guaranteed contest in 8 months not "Fill" and it still covered the Payout portion.

I know that dollar amount is nothing vs. previous revenues, but I found it interesting. I'm sure the Pro's are still playing, but some of my fellow "small time schmuck's" don't seem to want to donate this evening.

Maybe players will come back, maybe they won't, but I am definitely going to watch NFL Contests this Sunday to see if they reach Break Even in all of these 6 and 7 Figure Payout Games.

I'm heading to Keeneland next Wednesday through Saturday so I can feel like a "Big Time Schmuck". If anyone else is attending, come say "hello". Will be on 2nd floor overlooking the paddock...probably looking to the heavens for a "single". :D

Have a great night.

This might be only the tip of the iceberg. I think jms is on to something. These are private, unregulated companies. Who knows what is really going on.

Scary. That would be like if whales had access to tote info in our game. Oh wait....

Millionaire sports gambler explains why regular guys are getting fleeced playing daily fantasy sports
http://finance.yahoo.com/news/millio...ory&soc_trk=tw

And just saw that a class action suit has been filed....

Taxation on their revenue! Like casinos, race tracks, and lotteries pay.

So you are saying DraftKings and Fanduel dont pay taxes?

That is really no different than casual fans coming to the track, or trying to take down a pick 6 with a $10 ticket.

Just like handicapping, if you want to win, do some research, hone your craft, don't follow the masses.

but the nice thing about handicapping...you see the pools, and the odds. just think if only some horse players had that info, while the many had to just guess who was playing what.

The ownership from the Thursday tourneys is readily available once the game starts. That can be used to project Sunday ownership. I've been using them all year for my Sunday lineups. One link is below, there are many others. The press really made a story out of nothing. Granted the DFS sites needed to do what they ended up doing not allowing employees to play, but the guy in the press was a scapegoat really.

Copy and paste

dfsreport.com/fanduel-thursday-ownership-percentages

Anyone player that wins a cumulative net of $600 in a year gets a 1099-MISC

DFS paused in NY pending court case..
http://www.bloodhorse.com/horse-raci...-fantasy-in-ny

What was it Lincoln said.....something about one lawyer in a town soon grows thin, but two in a town grow fat!

Must read..

How the Daily Fantasy Sports Industry Turns Fans Into Suckers
http://www.nytimes.com/2016/01/06/ma...one-share&_r=0

Darren Rovell ‏@darrenrovell 14s15 seconds ago
BREAKING: FanDuel & DraftKings granted permanent stay by appellate panel in NY. Can take biz from New Yorkers throughout the appeal.