The nuts and bolts of the Draft Kings leak

[Kasept]

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.

[CharlieR]

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

[Kasept]

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

[Benny]

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

[asudevil]

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

[Jasper131]

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.

[jms62]

Originally Posted by Jasper131

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...

[3kings]

Originally Posted by Jasper131

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.

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.

[Jasper131]

Originally Posted by jms62

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...

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.

[asudevil]

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.

[3kings]

Originally Posted by jms62

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 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.

[3kings]

Originally Posted by Jasper131

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.

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

[Jasper131]

Originally Posted by 3kings

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.

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.

[jms62]

Originally Posted by asudevil

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.

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.

[Danzig]

http://espn.go.com/chalk/story/_/id/...tkings-fanduel

[asudevil]

Originally Posted by jms62

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.

[Jasper131]

Originally Posted by 3kings

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

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.

[jms62]

Originally Posted by asudevil

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

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.

[knickslions2]

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

[Danzig]

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.