The nuts and bolts of the Draft Kings leak

jms62 · #1 10-07-2015, 09:53 AM

Quote:

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...

Jasper131 · #2 10-07-2015, 09:57 AM

Quote:

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 · #3 10-07-2015, 09:59 AM

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.

jms62 · #4 10-07-2015, 10:12 AM

Quote:

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 · #5 10-07-2015, 10:15 AM

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

asudevil · #6 10-07-2015, 10:22 AM

Quote:

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.

jms62 · #7 10-07-2015, 10:31 AM

Quote:

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 · #8 10-07-2015, 10:39 AM

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

asudevil · #9 10-09-2015, 01:43 AM

Quote:

Originally Posted by jms62

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.

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

jwkniska · #10 10-12-2015, 01:56 PM

Quote:

Originally Posted by asudevil

How about taxation? It's just not fair.

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

Kasept · #11 12-11-2015, 04:18 PM

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

3kings · #12 10-07-2015, 10:11 AM

Quote:

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 · #13 10-07-2015, 10:25 AM

Quote:

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.

3kings · #14 10-07-2015, 10:03 AM

Quote:

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.

Holybull1 · #15 10-08-2015, 01:15 PM

Quote:

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...

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

Kasept · #16 10-08-2015, 09:44 PM

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

Danzig · #17 10-08-2015, 09:48 PM

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

HoosierInOhio · #18 10-09-2015, 03:35 PM

Quote:

Originally Posted by Kasept

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

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.

Danzig · #19 10-09-2015, 04:36 PM

Quote:

Originally Posted by HoosierInOhio

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.

HoosierInOhio · #20 10-09-2015, 05:59 PM

Quote:

Originally Posted by Danzig

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