OT: Scandal at Draft Kings, Fan Duel
They have rules barring employees from playing on their own sites, but not the competitors. Not surprised to see such shadiness or to see NFL owners involved in the companies.
http://www.nytimes.com/2015/10/06/sports/fanduel-draftkings-fantasy-emp…
October 6th, 2015 at 5:55 PM ^
I read the article and answered the question for myself.
October 6th, 2015 at 4:58 PM ^
October 6th, 2015 at 5:10 PM ^
BlackJack is against the dealer. It doesn't matter what other players do because their cards provide data on betting strategy.
I get you attempt but BJ is a bad analogy.
October 6th, 2015 at 6:55 PM ^
It doesn't matter what other players do because their cards provide data on betting strategy.
Good lord you must be an awful blackjack player.
October 6th, 2015 at 6:01 PM ^
They don't know anything about betting that isn't readily available to the general public. These employees are using inside information that's not known to other bettors to increase their odds of winning. Those less informed bettors are their competition, not the house.
The closest casino analogy would be in the sports books, but any financial market is more susceptible to trading on inside information. They're highly regulated with serious criminal and civil penalties in place.
October 6th, 2015 at 8:21 PM ^
...imagine that through some sort of bizarre quantum magic the cards at one casino are always dealt in exactly the same order as at the other, and an employee at one is on the phone to a player at the other during the hand.
October 6th, 2015 at 5:01 PM ^
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October 6th, 2015 at 5:42 PM ^
Employees, at any level, are usually banned from trading their own company stock unless it's done within a strict timeframe. Doesn't stop people from trying to get around the rules but at least there are some rules in place that are designed to stop employees from benefiting from their insider knowledge.
October 6th, 2015 at 6:30 PM ^
Is that really the case? If so, why are there lists of insider transactions of executives buying or selling shares of their company's stock? And why are stock options awarded to employees at varying levels?
I'm certainly no expert but I know of many people that buy and sell their own company's stock whether on the free market or shares given as a part of a comp package.
October 6th, 2015 at 7:29 PM ^
Different level employees get a different level of stock grants, options, etc. The CEO gets a lot more stock compensation than a first year analyst, for example.
Having said that, employees are usually restricted from buying or selling unless it during a pre determined period of time that usually is once a quarter. They can't, or usually are prohibited, from buying or selling in the open market.
October 6th, 2015 at 4:50 PM ^
Part Deux. CNBC did a whole weeks worth of guest appearances with both companies. Trying to legitimaize through advertisments. This is just the beginning of what is yet to come.
October 6th, 2015 at 4:52 PM ^
October 6th, 2015 at 4:53 PM ^
October 6th, 2015 at 9:48 PM ^
October 6th, 2015 at 4:54 PM ^
My guess is they know the secret probability/strategy of winning. For example you can enter up to the 500 lineups per tournament, and there has to be some type of probability/odds you can play to guarantee you win money. Some tournaments are only just two NFL games and there is only so many different lineups you can play using just two NFL games. By entering in a ton of lineups, you should be looking good to win the jackpot if you know the odds
October 6th, 2015 at 4:56 PM ^
You're taking food off MGoBlog's table with threads like this. Check the sponsor list! Brian is going to starve.
October 6th, 2015 at 5:38 PM ^
makes me much less likely to support any of the other sponsors on this site.
October 6th, 2015 at 11:15 PM ^
October 6th, 2015 at 4:56 PM ^
that could happen is that both companies knew about what was happening and in fact were complicit in the way they opperated the games so that inside info could be used to win more easily.
October 6th, 2015 at 4:57 PM ^
Yes,I know a guy who won $70K and another who won $9K.It is fairly well known that Fanduel has there own sharks who also play.The access to the % of NFL players being picked in each contest is new but in retrospect it seems obvious that the sharks would have & use that info.
October 6th, 2015 at 5:16 PM ^
October 6th, 2015 at 7:41 PM ^
October 6th, 2015 at 4:58 PM ^
October 6th, 2015 at 5:01 PM ^
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October 6th, 2015 at 7:37 PM ^
October 6th, 2015 at 5:25 PM ^
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October 6th, 2015 at 5:12 PM ^
October 6th, 2015 at 5:26 PM ^
October 6th, 2015 at 5:28 PM ^
October 6th, 2015 at 5:40 PM ^
October 6th, 2015 at 7:20 PM ^
October 6th, 2015 at 5:51 PM ^
October 6th, 2015 at 7:00 PM ^
Both could disappear forever and I would not be dismayed one bit.
Both could disappear forever and I would weep uncontrollable tears of joy because their commercials are fucking awful and unending.
October 6th, 2015 at 5:52 PM ^
October 6th, 2015 at 6:27 PM ^
October 6th, 2015 at 6:53 PM ^
October 6th, 2015 at 5:55 PM ^
October 6th, 2015 at 6:03 PM ^
When I was an underemployed 20 something, me and a friend of mine worked on developing fantasy sports formulas. We didnt sports gamble b/c of the vig - "seasonal" fantasy was more profitable, oddly. Both of us are really fucking good at this - my friend used to do insanely competitive and high stakes "seasonal" fantasy leagues in multiple sports and would just destroy folks. Like, was making five-figures a year off of fantasy for the past decade. He also makes six figures a year trading securities, on TOP of his high five figure writing job that he does more or less because he loves writing. He went to a Cal Tech / MIT type of school. He's basically a genius who doesn't like to hold a real job with a boss.
I sort of grew out of sports statistics and got a real job. The few times I've been in a (seasonal) fantasy league with my buddy, he has absolutely destroyed me. He's probably one of the best seasonal fantasy players in the world.
My buddy doesn't play daily fantasy anymore because its too competitive and he doesn't make enough money after the vig.
Keep that in mind when you think "how hard can it be?".
October 6th, 2015 at 6:09 PM ^
October 6th, 2015 at 6:25 PM ^
October 6th, 2015 at 6:41 PM ^
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October 6th, 2015 at 6:42 PM ^
As long as the programmers weren't changing lineups mid game for the other company's employees, I don't see any reason why an employee of one company shouldn't enter in another.
No matter what tools they have at their disposal, they can't manipulate what happens on the field.
That said, I love fan fuel! Started with $50 and I'm up $400.
October 6th, 2015 at 6:51 PM ^
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October 6th, 2015 at 7:34 PM ^
October 6th, 2015 at 7:29 PM ^
They announced that they did an internal investigation and the insider info given to the employee that used that info to win $350K that the public didn't have showed no wrongdoing. So case closed I guess, nothing to see here. Glad we got that settled.
I read on the edge of the internet that the guy played in a one on one matchup and could see who the other guy had on his team before picking his own. Not sure how that could be construed as an advantage...
/s
October 6th, 2015 at 7:33 PM ^
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October 6th, 2015 at 8:03 PM ^
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October 6th, 2015 at 9:00 PM ^