An Ad Blitz for Fantasy Sports Games, But Some See Plain Old Gambling

[Fern Modena]

To amplify, Nevada says this is online gambling and needs to register and follow Nevada's state laws pertaining to this before they will be allowed to conduct business in Nevada again.

Fern

http://www.foxnews.com/us/2015/10/15/daily-fantasy-sports-sites-ordered-to-shut-down-in-nevada/

 

["Roger"]

I have often cynically referred to the stock market as legalized gambling. On the other hand, it is a highly regulated industry. (Ignore the question of whether it can be better regulated or not.)

Nevada is not making fantasy football illegal. They are simply suggesting that as a form of gambling it needs to be regulated.

 

[Fern Modena]

They (Nevada Gaming Commission) aren't "suggesting," they are requiring. Until they register with the state of Nevada and agree to their rules, they can't accept bids, or whatever they call them, from logins in Nevada.

Fern

I have often cynically referred to the stock market as legalized gambling. On the other hand, it is a highly regulated industry. (Ignore the question of whether it can be better regulated or not.)

Nevada is not making fantasy football illegal. They are simply suggesting that as a form of gambling it needs to be regulated.

 

[TUGBrian]

I found it very suprising to read that MLB is actually a part owner of fanduel and draftkings...as is the NBA.

that said, while the NFL doesnt have any ownership in either company...they seem to lead the pack in taking their advertising dollars and plastering their ads all over their site, and nfl games!

 

[Passepartout]

Sports (and player) updates now on Amazon Echo

Now you can just enter your favorite teams and players into your Alexa app and Echo will keep track and update standings.

Here: from an email today from Amazon:
"You can now ask Echo for a customized Sports Update for your favorite teams. Sports Update lets you know about your favorite team's latest games and schedules. And it's easy to customize. Open your Alexa App, select Sports Update in Settings, and add your favorite teams. Then, just ask "Alexa, give me my Sports Update."

"For the Fantasy Football fanatic, the new Alexa skill "Fantasy Football" gives headlines and updates on any of the Top 300 players in the NFL. Just ask: "Alexa, ask Fantasy Football Nerd for the latest news." "Alexa, ask Fantasy Football Nerd for updates on Tom Brady."

Jim

 

[MULTIZ321]

The Fantasy-Sports Non-Scandal - by Mark St. Amant/ Op-Ed Contributor/ The Opinion Pages/ International New York Times/ The New York Times/ nytimes.com

"LIKE many fantasy football players of a certain age, I began with an office league. It was the 1990s, when we tallied points with newspaper box scores, pens and scratch paper. Despite its being more of a hobby among work buddies, I was instantly hooked — on the office camaraderie, on the knowledge and skill needed to build a roster and set weekly lineups, on the Vegas-level thrill of having “action” on every game. I might even win a few bucks at the end of the season.

Eventually I got so deep into fantasy football that I quit my job, wrote a memoir and contributed weekly columns to fantasy sports sites. And I could, because through the 2000s fantasy sports went mainstream. In the ’90s, you were the office weirdo if you played fantasy sports; by the mid 2000s, you were an outcast if you didn’t. Still, I figured it would stay that way, more or less: a hobby.

That all changed in 2009, when a new company called FanDuel helped introduce the idea of daily fantasy sports. Unlike the season-long, small-stakes activity that came before it, daily fantasy sports compresses the excitement of season-long leagues — drafting and managing teams, having action on every game — into a single week or even a day, all over an Internet platform that allows for immense pools of players, and money. Suddenly, you could win as much as $2 million within hours, not 16 weeks..."

Leandro Castelao


Richard

 

[Brett]

I found it very suprising to read that MLB is actually a part owner of fanduel and draftkings...as is the NBA.

that said, while the NFL doesnt have any ownership in either company...they seem to lead the pack in taking their advertising dollars and plastering their ads all over their site, and nfl games!

yes, many sports organizations are part owners

http://www.fool.com/investing/gener...-scandal-youll-be-shocked-at-who-owns-fa.aspx

 

[Elan]

The Fantasy-Sports Non-Scandal - by Mark St. Amant/ Op-Ed Contributor/ The Opinion Pages/ International New York Times/ The New York Times/ nytimes.com

"LIKE many fantasy football players of a certain age, I began with an office league. It was the 1990s, when we tallied points with newspaper box scores, pens and scratch paper. Despite its being more of a hobby among work buddies, I was instantly hooked — on the office camaraderie, on the knowledge and skill needed to build a roster and set weekly lineups, on the Vegas-level thrill of having “action” on every game. I might even win a few bucks at the end of the season.

Eventually I got so deep into fantasy football that I quit my job, wrote a memoir and contributed weekly columns to fantasy sports sites. And I could, because through the 2000s fantasy sports went mainstream. In the ’90s, you were the office weirdo if you played fantasy sports; by the mid 2000s, you were an outcast if you didn’t. Still, I figured it would stay that way, more or less: a hobby.

That all changed in 2009, when a new company called FanDuel helped introduce the idea of daily fantasy sports. Unlike the season-long, small-stakes activity that came before it, daily fantasy sports compresses the excitement of season-long leagues — drafting and managing teams, having action on every game — into a single week or even a day, all over an Internet platform that allows for immense pools of players, and money. Suddenly, you could win as much as $2 million within hours, not 16 weeks..."

Leandro Castelao


Richard

I played in my first fantasy league around 1990. It was called Jammin Joes and it was a season long baseball league with scoring very similar to DFS. We had to mail in our entries, and got periodic updates on our standing by mail. I entered with a couple work friends and remember it as being really fun, even without the live auto scoring of today's DFS.

Off to pore over some stats and matchups for today's CFB games.

Sent from my Nexus 5 using Tapatalk

 

[VegasBella]

They (Nevada Gaming Commission) aren't "suggesting," they are requiring. Until they register with the state of Nevada and agree to their rules, they can't accept bids, or whatever they call them, from logins in Nevada.

Fern

What's happening is that Nevadans with accounts are getting our accounts closed and our deposited money has to be withdrawn.

Not sure if we can play or not when we travel to CA, AZ, Utah, etc. If so, we'd have to set up whole new accounts.

 

[DavidnRobin]

with online Daily Fantasy (legal), online Poker (banned in US and North Korea...?), online Horse Racing (also legal) - and with Stocks as well...

To win, the player/investor has to beat both the competition and the rake (the % the House takes - assuring that they always win...). DraftKings has a 10% rake - that is huge and tough to overcome in long run.

They are all fixed to varying extents, and anyone playing/investing should be keenly aware of this (otherwise you are just donating - or extremely lucky). Play/Invest at your own risk.

Amazing to me that DraftKings and FanDuel are legal to play online, but online Poker is banned. There is way more gambling involved with Daily Fantasy than with Poker. IMO

disclosure - I play DraftKings and slightly ahead (playing low stake games), and consider it almost pure luck (picking sleepers) beyond basic FF knowledge. However, I do not delude myself that I am being played (...The Fix Is In), and these news reports do not surprise me.

IMO YMMV

 

[MULTIZ321]

The Deals That Made Daily Fantasy Take Off - by Matthew Futterman and Sharon Terlep/ Life/ Sports/ The Wall Street Journal/ wsj.com

"Federal probes of FanDuel and DraftKings pose this question: How did they get so big?

FanDuel and DraftKings, intense competitors that control some 95% of the North American daily-fantasy-sports market, have made a splash in recent months with lavish spending on advertisements and cash awards for the winners of their contests.

But with the U.S. Justice Department and the Federal Bureau of Investigation opening probes this week into the business model of these companies, and after gaming regulators in Nevada ordered the sites to cease operations in their state, the question is this: Where did these troubled companies come from, and how did they get so big so fast?

FanDuel says it will dole out $2 billion in prizes this year. DraftKings has pledged to give away at least $1 billion. The companies are valued at $1.3 billion and $1.2 billion, respectively..."

Richard

 

[Elan]

There is way more gambling involved with Daily Fantasy than with Poker. IMO


IMO YMMV

Interesting comment. Curious as to why you feel this way?

ETA: In my one month of DFS, I've definitely established a correlation between my win rate and the amount of time I've allocated to research. But I've primarily played CFB contests. I definitely think golf and some of the other sports are more of a crap shoot.

 

[DavidnRobin]

Interesting comment. Curious as to why you feel this way?

ETA: In my one month of DFS, I've definitely established a correlation between my win rate and the amount of time I've allocated to research. But I've primarily played CFB contests. I definitely think golf and some of the other sports are more of a crap shoot.

I can't speak for DraftKings outside of the NFL, but picking flyers (eg. James Starks today...) is key to winning in my experience - and looking at teams who win. Whereas poker - while bad beats can happen (statistically determined), there is much more skill than gambling (if you know how to play) compared to NFL betting on DailyFantasy. Especially the skill of how to read players and bluff (or fold good hands).

Do you play poker for money, or just Daily Fantasy?

My point was really how DailyFantasy is legal when online poker is not. IMO - if one is legal the other should also be - especially around the comparison of skill/gamble which is the argument often used (beyond use of the Wire Act). The events leading to 'Black Friday' in poker (and after) are quite interesting on many levels (especially around civil liberties).

Having played both - definitely more skill (less gamble) for poker than DailyFantasy (NFL).

Good luck - I am up today on Draft Kings (playing small stakes for fun). I play regular Fantasy in a league - and as said - the luck there is around injuries (which impacts Daily Fantasy as well).

As listed in this thread - pay attention to the current DailyFantasy news - the rake and organized groups with computerized algorithms - going to be hard to beat in long run.

Best of luck.

 

[Elan]

I think our disconnect on experiences is that I've been focusing on CFB rather than the NFL. There are a lot of offensive powerhouse teams and players in CFB relative to the NFL, so the strategy involved in researching matchups and allocating funds is more complex. When I have ventured into the NFL contests, as often as not, it's been relatively easy to draft a team without feeling overly cash limited. That never happens when drafting for CFB. I spend a lot of time researching players I know little about, because I'm often dredging into 4th or 5th receivers to complete my lineups.

Best of luck to you as well. This is my exploratory season for DFS. If I remain as hooked next year, I'll commit some serious cash and possibly develop some software to expedite the draft process, time permitting.

Sent from my Nexus 5 using Tapatalk

 

[MULTIZ321]

NCAA Disassociates College Sports From Daily Fantasy Games - by Michael Marot, AP Sports Writer/ ABC News/ abcnews.go.com

"The NCAA is pulling the plug on daily fantasy sports games.

In a letter sent Tuesday, college sports' largest governing body notified executives from DraftKings and FanDuel it would cancel future meetings and ban advertising from the two popular websites during NCAA championship events such as the men's basketball tournament.

Because the NCAA believes the fantasy games meet the definition of wagering, it has decided to ban all advertising, on site and on television, during championship events — a potentially big hit for two companies that have become major advertisers, particularly on television. The NCAA said its advertising policy for broadcasters "has a longstanding section that states we will not accept advertising from sports wagering entities."

The ban does not necessarily apply to the College Football Playoff, which is not run by the NCAA. While the CFP abides by NCAA bylaws, the organization has discretion over advertisements during its three games..."

Richard

 

[MULTIZ321]

Here's Why an NFL Player is Suing FanDuel - by Daniel Roberts/ Tech/ Fantasy Sports/ Fortune/ fortune.com

"It’s not about gambling.

Amidst ongoing scrutiny of daily fantasy sports companies, Washington Redskins wide receiver Pierre Garçon, through his attorney, filed a class action lawsuit against FanDuel on Friday.

There has been a slew of class action lawsuits brought against FanDuel and its competitor DraftKings in the past few weeks, but they have been brought by users of the companies alleging unfair play by insiders. The lawsuits came in the wake of a major scandal over a DraftKings employee who won $250,000 playing on FanDuel.

But Garçon’s lawsuit is different. It’s not about insider play, nor is it concerned with whether daily fantasy sports is gambling, which has been the focus of recent regulatory scrutiny. It’s about player permission, and whether FanDuel illegally uses player names and likenesses. He has filed it “on behalf” of all NFL players, but for now the suit is coming only from Garçon..."

Washington Redskins wide receiver Pierre Garcon looks on late in the fourth quarter in a game between the Redskins and New York Giants at MetLife Stadium on December 14, 2014 in East Rutherford, NJ. The Washington Post/Getty Images


Richard

 

[MULTIZ321]

Attorney General Tells DraftKings and FanDuel to Stop Taking Entries in New York - By Walt Bogdanich, Joe Drape and Jacqueline Williams/ Pro Football/ International New York Times/ The New York Times/ nytimes.com

"The New York State attorney general on Tuesday ordered the two biggest daily fantasy sports companies, DraftKings and FanDuel, to stop accepting bets from New York residents, saying their games constituted illegal gambling under state law.

The cease-and-desist order by the attorney general, Eric T. Schneiderman, is a major blow to a multibillion-dollar industry that introduced sports betting to legions of young sports fans and has formed partnerships with many of the nation’s professional sports teams..."

The New York attorney general began an inquiry last month, asking two leading companies, DraftKings and FanDuel, for a range of internal data and details on how they prevent fraud. Credit Michael Nagle for The New York Times


Richard

 

[am1]

This was inevitable.

I use to play poker online but got out after the wire act. It would have been easy enough to still play but why bother as the fish would not want to jump through a few hoops to play.

I have thought played since as it is very easy for players to collude together.

I would not trust these daily sports sites either. But I never really was a sports bettor or into fantasy sports. I did play a little proline when I thought one of the three games was a lock or at least the chances change dramatically in one of the games due to injury/weather before the payouts were adjusted. But to me this is all too much work.

 

[Elan]

I would not trust these daily sports sites either. But I never really was a sports bettor or into fantasy sports. I did play a little proline when I thought one of the three games was a lock or at least the chances change dramatically in one of the games due to injury/weather before the payouts were adjusted. But to me this is all too much work.

I now belong to both DraftKings and FanDuel. I play small wagers and focus almost exclusively on CFB, although I find the golf intriguing as well. It is a lot of work to get competent at DFS. Lots of pregame research involved. I wish I had more time to invest as, IMO, it's roughly 70% skill and 30% luck. I know I'm at a major disadvantage to those that have accumulated massive databases. Still really fun, regardless.

 

[MULTIZ321]

The NBA, Turner Sports, Visa, PayPal, Others Face Lawsuit Over Daily Fantasy Sport - by Ken Keung/ Daily Fantasy Sports/ Draft Kings/ FanDuel/ Gambling/ MasterCard/ NBA/ NBA-Media-Ventures/ PayPal/ VB/ venturebeat.com

"The National Basketball Association (NBA) and major sports, media, and tech companies are facing a class action lawsuit over their investment in and/or involvement with daily fantasy sports sites DraftKings and FanDuel. It’s alleged that DraftKings and FanDuel have “engaged in illegal gambling and deceptive practices” under Florida and federal laws. What’s more, the lawsuit contends that the 50 or so defendants named have been complicit in the operation.

First reported by Sports Illustrated, the lawsuit was filed by two Florida-based daily fantasy sports customers, Antonio Gomez and John Gerecs. Their lawyer, Ervin Gonzalez, has stated that, in particular, the NBA and Major League Baseball are perhaps among the most culpable..."

Image Credit: Ryan Hyde/Flickr


Richard

 

[MULTIZ321]

FanDuel, DraftKings Can Operate in New York for Now (Update) - by Jessica Conditt/ Business/ engadget.com

"A judge shut down the sites for a few hours on Friday, but the appeals court overturned that ruling..."

Richard

 

[MULTIZ321]

Illinois Attorney General Says Draftkings and FanDuel Are Illegal - by Fitz Tepper/ TC (Tech Crunch)/ techcrunch.com

"Jumping on the daily fantasy sports bandwagon, Illinois Attorney General Lisa Madigan has joined NY AG Eric Schneiderman in deciding that DraftKings and FanDuel violate state law.

In a letter responding to an inquiry by state representatives Elgie Simms and Scott Drury, Madigan explains that she believes both FanDuel and DraftKings (and presumably other DFS operators) constitute illegal gambling under the state’s criminal code.

Madigan notes that Illinois Criminal Code 28-1(a)(12) says a company or person violates the law when they “knowingly establishes, maintains, or operates an internet site that permits a person to play a game of chance or skill for money or other thing of value…”..."

Illinois Supreme Court
In the words of DJ Khaled: “Another One!”


Richard

 

[pedro47]

I found it very suprising to read that MLB is actually a part owner of fanduel and draftkings...as is the NBA.

that said, while the NFL doesnt have any ownership in either company...they seem to lead the pack in taking their advertising dollars and plastering their ads all over their site, and nfl games!

That is a surprising note. Fanduel & Draftkling is legal in Virginia. It is online gambling .

 

[VegasBella]

I'll just leave this right here...

Daily fantasy is a game, and many games allow skilled players to win consistently at the expense of less-skilled players. Indeed, without the skill component to the game, few of us would find DFS so engaging.

If you lose consistently at DFS, it’s not because other players are out-bankrolling you or out-scripting you or building magic multi-entry lineup sets that somehow guarantee a victory. It’s because the lineups you build are average or worse than average. That’s the reason. I don’t think there’s a thing that’s unfair about that.

http://dailyfantasytalk.com/massive-multi-top-attraction/

 

[MULTIZ321]

NYT: DraftKings and FanDuel Lose Major Payment Processor - by Mariella Moon/ Engadget/ engadget.com

"The daily fantasy sports industry has a new problem, and The New York Times believes it's "the biggest blow yet" despite all its other legal challenges. One of its main payment processors, Vantiv Entertainment Solutions, has notified its clients that it'll stop processing all daily fantasy sports transactions in the US on February 29th. Payment processors handle all the players' deposits and withdrawals, and Vantiv, in particular, plays a major part in that for FanDuel and DraftKings. The company's services are a crucial part of those websites' operation -- they will not be able to continue running unless they find a replacement..."

Richard