YoloinOhio Posted October 5, 2015 Share Posted October 5, 2015 (edited) @nytimes: Breaking News: Scandal erupts in the fantasy sports industry after allegations of insider betting http://t.co/lvImU91GLG 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.Jerry Jones and Robert Kraft have stakes in Draft Kings Edited October 5, 2015 by YoloinOhio Link to comment Share on other sites More sharing options...
jimmy10 Posted October 5, 2015 Share Posted October 5, 2015 I am Joe's complete lack of surprise. Link to comment Share on other sites More sharing options...
judman Posted October 5, 2015 Share Posted October 5, 2015 @nytimes: Breaking News: Scandal erupts in the fantasy sports industry after allegations of insider betting http://t.co/lvImU91GLG Jerry Jones and Robert Kraft have stakes in Draft Kings Bob Kraft is a classy guy. I find it hard to belive something underhanded would happen on his watch. Insert sarcasm Link to comment Share on other sites More sharing options...
Big C Posted October 5, 2015 Share Posted October 5, 2015 What a shock! Link to comment Share on other sites More sharing options...
drinkTHEkoolaid Posted October 5, 2015 Share Posted October 5, 2015 (edited) Bob Kraft is a classy guy. I find it hard to belive something underhanded would happen on his watch. Insert sarcasmListen. We can trust Robert. He wants to protect the integrity of the league and defend the shield hes legit a stand up guy. No way he would be associated with any shady dealings. Besides he wears blue shirts with white collars. /extreme sarcasm Edited October 5, 2015 by drinkTHEkoolaid Link to comment Share on other sites More sharing options...
Punching Bag Posted October 5, 2015 Share Posted October 5, 2015 Insert WEO's defense of Kraft here. And I have considered Professional Fantasy Football as rigged as Professional Wrestling since beginning. Link to comment Share on other sites More sharing options...
chaccof Posted October 5, 2015 Share Posted October 5, 2015 I'm surprised the NFL allows Kraft and Jones to own a piece of Draft Kings. Oh wait, they are the NFL.....how silly of me.... Link to comment Share on other sites More sharing options...
Pine Barrens Mafia Posted October 5, 2015 Share Posted October 5, 2015 Well well well. I think it's time for Bobby to go. Link to comment Share on other sites More sharing options...
White Linen Posted October 5, 2015 Share Posted October 5, 2015 Listen. We can trust Robert. He wants to protect the integrity of the league and defend the shield hes legit a stand up guy. No way he would be associated with any shady dealings. Besides he wears blue shirts with white collars. /extreme sarcasm Another example of how Bobby Kraft respects the rules - he knows talking to McCoy isn't allowed since he's under contract. Link to comment Share on other sites More sharing options...
ToGoGo Posted October 5, 2015 Share Posted October 5, 2015 There's a lot of talk in the article about "data" and "insider information". What data and inside information do the employees have? Does this mean they take the lineups of the must successful bettors and use them on the competing site? For all the details in the articles, this was really vague. I'm surprised the NFL allows Kraft and Jones to own a piece of Draft Kings. Oh wait, they are the NFL.....how silly of me.... Don't be. Draftkings is partnered with MLB and Fanduel is partnered with the NBA. They're quietly trying to legalize sports gambling. Link to comment Share on other sites More sharing options...
jimmy10 Posted October 5, 2015 Share Posted October 5, 2015 Kraft and JJ aside, those companies are shady as hell. All but the tiniest slice of the pie is won by people who write their own software to generate lineups by the hundreds and wager tens of thousands of dollars per week. They need fresh meat for the grinder, hence the constant advertising bombs. Link to comment Share on other sites More sharing options...
Coastie Posted October 5, 2015 Share Posted October 5, 2015 @nytimes: Breaking News: Scandal erupts in the fantasy sports industry after allegations of insider betting http://t.co/lvImU91GLG Jerry Jones and Robert Kraft have stakes in Draft Kings Aw man, I play on DraftKings, now I know every game I enter I am putting a little money in those jackholes' pockets? That bums me out. Link to comment Share on other sites More sharing options...
ToGoGo Posted October 5, 2015 Share Posted October 5, 2015 Aw man, I play on DraftKings, now I know every game I enter I am putting a little money in those jackholes' pockets? That bums me out. Regardless, every game with meaningful money you're playing against sharps that use computer algorithms to predict winners. They're going to beat you 8 out of 10 times. Something like 1% of all players stay in the green over the course of the year. Link to comment Share on other sites More sharing options...
Coastie Posted October 6, 2015 Share Posted October 6, 2015 (edited) There's a lot of talk in the article about "data" and "insider information". What data and inside information do the employees have? Does this mean they take the lineups of the must successful bettors and use them on the competing site? For all the details in the articles, this was really vague. Don't be. Draftkings is partnered with MLB and Fanduel is partnered with the NBA. They're quietly trying to legalize sports gambling. The instance here is usage rate of players. It is harder to win a tournament with high usage players so lineups with low usage, high potential scoring players gives the best return on investment and these employees knew the usage rate at their site so the usage rate at other sites is likely comparable with some variation allowed for differences in salaries. Edited October 6, 2015 by Coastie Link to comment Share on other sites More sharing options...
ToGoGo Posted October 6, 2015 Share Posted October 6, 2015 The instance here is usage rate of players. It is harder to win a tournament with high usage players so lineups with low usage, high potential scoring players gives the best return on investment and these employees knew the usage rate and their site so the usage rate at other sites is likely comparable with some variation allowed for differences in salaries. A ha! That makes a lot of sense. Big advantage. Nobody monitors these guys anyways, who busted them? Link to comment Share on other sites More sharing options...
YoloinOhio Posted October 6, 2015 Author Share Posted October 6, 2015 There's a lot of talk in the article about "data" and "insider information". What data and inside information do the employees have? Does this mean they take the lineups of the must successful bettors and use them on the competing site? For all the details in the articles, this was really vague. Don't be. Draftkings is partnered with MLB and Fanduel is partnered with the NBA. They're quietly trying to legalize sports gambling. all I could tell from it is that they had info that the rest of the players didn't - there are disadvantages to the common player. Even though I don't play either one I feel like they are in collusion or something. Most of all I can't stand their infernal commercials. Link to comment Share on other sites More sharing options...
Coastie Posted October 6, 2015 Share Posted October 6, 2015 Regardless, every game with meaningful money you're playing against sharps that use computer algorithms to predict winners. They're going to beat you 8 out of 10 times. Something like 1% of all players stay in the green over the course of the year. meh, I have put $700 in over the last two years, betting year round on golf, some baseball and football every week and I still am sitting on about $250. I place probably $50 to $150 in bets (and yes they are bets, don't let anyone tell you otherwise) a week for football, half that for golf, maybe thirty bucks a day for baseball if I can build a team I like. So while I am not in the green I am far from throwing money down a well I think. Link to comment Share on other sites More sharing options...
ToGoGo Posted October 6, 2015 Share Posted October 6, 2015 all I could tell from it is that they had info that the rest of the players didn't - there are disadvantages to the common player. Even though I don't play either one I feel like they are in collusion or something. Most of all I can't stand their infernal commercials. I used to do affiliate marketing and I know Draftkings was all over it. What that means is they allow approved publishers to promote their business and for everybody that signs up, the publisher is paid a fee. My guess is they are outsourcing their advertising to everybody on Earth to saturate the market. A more sinister theory is that the major sports leagues are using fantasy betting to prime the public to more readily accept straight-forward sports betting in a few years when it becomes legal. meh, I have put $700 in over the last two years, betting year round on golf, some baseball and football every week and I still am sitting on about $250. I place probably $50 to $150 in bets (and yes they are bets, don't let anyone tell you otherwise) a week for football, half that for golf, maybe thirty bucks a day for baseball if I can build a team I like. So while I am not in the green I am far from throwing money down a well I think. Which is on par with everybody else. Most people aren't losing thousands of dollars. They just lose a bit more than they win. Only the top percent makes a nice profit. Link to comment Share on other sites More sharing options...
Dark Posted October 6, 2015 Share Posted October 6, 2015 (edited) There's a lot of talk in the article about "data" and "insider information". What data and inside information do the employees have? Does this mean they take the lineups of the must successful bettors and use them on the competing site? For all the details in the articles, this was really vague. The article vaguely says, "Many of these employees set the prices of players and the algorithms for scoring. In short, they make the market." Edit: Yeah, Coastie nailed it. Edited October 6, 2015 by Dark Link to comment Share on other sites More sharing options...
Coastie Posted October 6, 2015 Share Posted October 6, 2015 Regardless, every game with meaningful money you're playing against sharps that use computer algorithms to predict winners. They're going to beat you 8 out of 10 times. Something like 1% of all players stay in the green over the course of the year. As a matter of fact, I am cashing $83 dollars on my teams from this weekend, played $80 and I have the Seattle defense on one of my five lineups so if they do well I could increase that. I could also lose about 13 dollars of that 83, maybe a little more if there is a record setting points output from several players. I used to do affiliate marketing and I know Draftkings was all over it. What that means is they allow approved publishers to promote their business and for everybody that signs up, the publisher is paid a fee. My guess is they are outsourcing their advertising to everybody on Earth to saturate the market. A more sinister theory is that the major sports leagues are using fantasy betting to prime the public to more readily accept straight-forward sports betting in a few years when it becomes legal. Which is on par with everybody else. Most people aren't losing thousands of dollars. They just lose a bit more than they win. Only the top percent makes a nice profit. You are right for the most part, the guys who do dozens of hours of research and scan all the news sites and such, they win consistently. For me it is a not too expensive hobby that fills the extra time I find on my hands since I retired. Link to comment Share on other sites More sharing options...
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