Fan Duel and Draft Kings Accused of Insider Betting

[nl33]

"A major scandal is erupting in the multibillion dollar industry of fantasy sports, the online and unregulated business in which players assemble their fantasy teams with real athletes. On Monday, the two major fantasy companies were forced to release statements defending their businesses’ integrity after what amounted to allegations of insider trading, that employees were placing bets on information not available to the public.

Last week, a DraftKings employee admitted to inadvertently releasing data before the start of the third week of N.F.L. games, a move akin to insider trading in the stock market. The employee — a midlevel content manager — won $350,000 at rival site FanDuel that same week."




Source: http://www.nytimes.com/2015/10/06/sp...ef=sports&_r=0

[eltoro24]

No idea how that stuff works. The data doesn't come out in real time as the guys are playing.

Way over my head.

[nl33]

No idea how that stuff works. The data doesn't come out in real time as the guys are playing.

Way over my head.

"The data that DraftKings acknowledged was released by its employee, Ethan Haskell, showed what particular players were most used in all lineups submitted to the site’s Millionaire Maker contests. Usually, that data is not released until the lineups for all games are finalized. Getting it early, however, is of great advantage to make tactical decisions, especially when your opponents do not have the information at all."


Seems like the employees were using this info to make bets on other daily fantasy sites.

[LeonardShelby]

No idea how that stuff works. The data doesn't come out in real time as the guys are playing.

Way over my head.

Basically, he had data on the players that were picked. People are saying that he then had access to players that the best dfs players were picking so he knew who the good plays were.

Also seeing percentages helps you pick guys that are less owned because having less owned guys helps propel you to the top if they do well.

[stevemckenna]

I for one am shocked and dismayed by the corruption- albeit isolated - that smears the good names of these upstanding companies.

[mcbizkit02]

This was bound to happen sooner or later. Enjoy daily fantasy while you still can.

[HughBMyron]

it was fun well it lasted

[dindunuffins]

People actually use draft kings and fan duel. Lulz. Stats show 99% of users make 0 or lose money. I'm sure everyone in this thread is the 1% fantasy experts raking in thousands

[mabidi]

time to withdraw my money before i never see it again

[SompletelyCober]

[roko79]

dont forget that the employees also can set the prices for players, and having the data of which players are used is even more a cause for concern. They are basically market makers with huge insider information. If this was finance they would be going to prison for this. Time to shut them down.

[YellowOnYellow]

I for one accept the down fall of these two companies so I never have to watch those commercials again.

[Lunatic]

Business Insider did a piece on them that stated it was next to impossible to win big. How the **** is anyone NOT surprised about this?

[SmarterChild]

Friend won a million last week (srs)

Something like a $20 bet or something

[Baylorballs]

I for one accept the down fall of these two companies so I never have to watch those commercials again.

it's pathetic the pimping out that going on . I get espn mag for like $9 a year. worth a few min read

i get a magazine the other day a HUGE Draft kings cover on it. I just threw it on the ground and laughed cause i thought it was the actual cover. YOu have to FOLD OVER the front page to get to this




Companies are a joke and need to go away fast

[Smurg]

dont forget that the employees also can set the prices for players, and having the data of which players are used is even more a cause for concern. They are basically market makers with huge insider information. If this was finance they would be going to prison for this. Time to shut them down.

You can guestimate %'s based on different information pretty easily. I don't see this as a huge edge or a big deal.

He doesn't even have open access to the %'s much less actual players lineups, he had to query the devs to write an article. I'm sure they have protections in place before or now for actual lineups.

People are saying regulation is needed like it actually means anything. Because gambling regulators are the most upright bunch, letting lock poker operate for years as a giant ponzi scheme and not even allowing withdrawals for the longest time.

I would love some actual legit oversight but it ain't going to happen and these sites better police themselves with tens of millions in seed money. In b4 full tilt (but they didn't have outside investors to keep them honest).

This is just a sensationalist piece for clicks.

[SmarterChild]

How's this legal but online poker isn't

[woody19]

Finally gave in and put 20 in, pretty fun don't expect to win big. Just want to stretch out my money through the season. So far 3 weeks in and down $1

[LyonGaultier]

"A major scandal is erupting in the multibillion dollar industry of fantasy sports, the online and unregulated business in which players assemble their fantasy teams with real athletes. On Monday, the two major fantasy companies were forced to release statements defending their businesses’ integrity after what amounted to allegations of insider trading, that employees were placing bets on information not available to the public.

Last week, a DraftKings employee admitted to inadvertently releasing data before the start of the third week of N.F.L. games, a move akin to insider trading in the stock market. The employee — a midlevel content manager — won $350,000 at rival site FanDuel that same week."




Source: http://www.nytimes.com/2015/10/06/sp...ef=sports&_r=0

[Lunatic]

You're a dumb**** if you fell for this

If you watched any NFL games over the weekend, or if you've ever listened to a comedy podcast, then you've been bombarded with advertisements for daily fantasy sports sites like FanDuel and DraftKings.

It seems like fun, right? Pick your lineup based on the salary cap restrictions, compete either in a large contest or simply head-to-head against someone else, watch the games, and watch the cash roll in.

Except just like anything related to gambling, it's really not that simple.

The folks at Bloomberg Businessweek went in depth to show you just how screwed you are if you think you have a shot at winning money on anything resembling a consistent basis.

While any player might get lucky on the back of a handful of entries, over time nearly all of the prize money flows to a tiny elite equipped with elaborate statistical modeling and automated tools that can manage hundreds of entries at once and identify the weakest opponents. ...

Analysis from Rotogrinders conducted for Bloomberg shows that the top 100 ranked players enter 330 winning lineups per day, and the top 10 players combine to win an average of 873 times daily. The remaining field of approximately 20,000 players tracked by Rotogrinders wins just 13 times per day, on average. ...

The money-losing players tend to get lucky, win a few times, reinvest the prize money, and eventually lose.
If you look at these contests as nothing more than an inexpensive form of entertainment and a way to make the games more interesting, then obviously there's no harm done. But play responsibly kids, because the odds are stacked against you, to say the very least.

http://www.complex.com/sports/2015/0...-kings-fanduel

[The_Albatross]

You can guestimate %'s based on different information pretty easily. I don't see this as a huge edge or a big deal.

then you don't understand prognostication using statistical analysis.

[HughBMyron]

You're a dumb**** if you fell for this



http://www.complex.com/sports/2015/0...-kings-fanduel

I won money

So i guess i am dumb

[LyonGaultier]

Pools in general are difficult. I suggest players play head to head or those double up 10 player 50/50.

[YesWayNoWeigh]

Bring back pokerstars Fuk dfs. And lol at people crying 99% of you will lose money! Well no shiit everyone can't win. Im up lifetime that's all I care about.

[mkx1775]

Good, hope they finally get rid of their stupid commercials in NFL/MLB/NHL games.

[YesWayNoWeigh]

https://rotogrinders.com/threads/dra...-850584?page=1

Big thread on rotogrinders about this. Here's the fat douch



List of his biggest wins. All from this year

FanDuel NFL Sep 27th, 2015 $25.00 2 / 229885
FanDuel MLB Aug 18th, 2015 $25.00 1 / 12889 2,017.88
FanDuel MLB Aug 10th, 2015 $25.00 1 / 5747 1,143.26
FanDuel NFL Sep 27th, 2015 $5.00 1 / 20618 1,018.43
FanDuel MLB Jul 11th, 2015 $25.00 1 / 4009 1,000.00
FanDuel MLB Aug 21st, 2015 $300.00 3 / 740 834.72
FanDuel MLB Aug 25th, 2015 $300.00 6 / 1333 783.94

[dhawkeye1980]

What does it matter if he knew what other people were picking? The players still had to score him points right?

[YesWayNoWeigh]

What does it matter if he knew what other people were picking? The players still had to score him points right?

if it didn't matter then it would be available to everyone.. Knowing the percentage owned gives a huge advantage in a tournament. Then he wins 350k in a huge player field

[FGCHENG]

Friend won a million last week (srs)

Something like a $20 bet or something

Anyway to prove this? The odds are like 1 in 200,000 in a weekly contest.

[AreolaBorealis]

Good. I do not respect anyone who plays at either of these places. Hopefully this the end of DFS. It's fuking stupid and unamerican. Both these sites need to go by the wheyside and never come back.