I always wondered how their business model was legal to begin with. I wonder if they will go the way of the dodo bird soon now that the DOJ and FBI are looking into them?
Will Fandueal & Draftkings survive?
- Thread starter litespeedhuskerfan
- Start date
They are backed by major media companies like ESPN, Fox Sports, etc - so they will have some major legal muscle to keep them in business.
If this process would get the commercials off the air so I don't have to listen to random east coast loser tell me how he made $700K off $20 - I don't care if they get closed down. I just don't want to hear about it anymore.
If this process would get the commercials off the air so I don't have to listen to random east coast loser tell me how he made $700K off $20 - I don't care if they get closed down. I just don't want to hear about it anymore.
Type in promo code sucker and we will match your deposit up to 200$.
Are you implying that the "backing" is investment, or the just the sudden surge in marketing agreements for stats and such? I'm unaware of the former, if true.
Either way, if the FBI or DOJ see a legal problem, I doubt either would care much about the backing of ESPN or Fox. Poker sites fell apart pretty quickly once the feds got involved. Seizing an internet domain is a pretty nice method of shutting down a site.
Exactly. DOJ won't give a rip who's backing them if they determine it's an illegal activity, and I think it is. Having said that, I don't do fantasy and never will so it is exactly zero skin off my nose, but I suspect those 2 companies are pretty freaking nervous their cash cow might get the proverbial metal retractable spike in the head.
It's interesting. On-line poker still has cash payouts, but only on a subscription basis. Nevada and NJ are the only two states that allow on-line legal betting with your own money.
As soon as the media blitz started for fantasy football, It looked a lot like on-line poker (the kind that is illegal now in most of the USA).
As soon as the media blitz started for fantasy football, It looked a lot like on-line poker (the kind that is illegal now in most of the USA).
They won't survive if the federal government isnt getting their cut. 
I think they are in trouble, but frankly should have been in trouble before this insider trading situation. They say this is a game of skill, which somehow makes it not gambling because it's not a game of luck? What?
Blackjack is a game of skill too. So is poker. So is all sports gambling.
In my opinion, it should all be legalized, everywhere. Stupid that you can do it legally in Vegas but nowhere else. The sports teams want it to be legalized, primarily to keep up fan interest. If someone wants to risk their $$$ on a sports game, they should be allowed to. Most countries in Europe allow legalized gambling and I don't see how it has been a problem there.
We want the Government out of our lives, get out of this. Let a fool and his money be parted if they want to.
Blackjack is a game of skill too. So is poker. So is all sports gambling.
In my opinion, it should all be legalized, everywhere. Stupid that you can do it legally in Vegas but nowhere else. The sports teams want it to be legalized, primarily to keep up fan interest. If someone wants to risk their $$$ on a sports game, they should be allowed to. Most countries in Europe allow legalized gambling and I don't see how it has been a problem there.
We want the Government out of our lives, get out of this. Let a fool and his money be parted if they want to.
I'll admit their non-stop commercials are annoying, but I really enjoy their sites/games and hope they continue to thrive. I think they will. In fact, I think these sites are paving the way to restoring on-line poker in the U.S.
Perhaps Draft Kings and Fan Duel will need to tighten their controls, but declaring them illegal would essentially be declaring all fantasy sports illegal. There is no doubt that the NFL, MLB, and other professional leagues are more interested in making sure these sites are legit than they are in making it difficult or impossible for them to operate. The leagues are making a financial killing and their popularity only increases because of Draft Kings and Fan Duel.
Whether it's "gambling" or not....eh, to me, I can make a distinction between a game of pure chance where the house has a built-in mathematical advantage and one where you are competing against other individuals where there is a higher degree of skill involved and no advantage to the house.
Perhaps Draft Kings and Fan Duel will need to tighten their controls, but declaring them illegal would essentially be declaring all fantasy sports illegal. There is no doubt that the NFL, MLB, and other professional leagues are more interested in making sure these sites are legit than they are in making it difficult or impossible for them to operate. The leagues are making a financial killing and their popularity only increases because of Draft Kings and Fan Duel.
Whether it's "gambling" or not....eh, to me, I can make a distinction between a game of pure chance where the house has a built-in mathematical advantage and one where you are competing against other individuals where there is a higher degree of skill involved and no advantage to the house.
I would think if you won a certain amount of money you would have to claim it on taxes or they would send you some sort of paper work?
Saw on the ESPN bottom line that the state of Nevada says this is illegal without the proper license. Since Nevada is getting involved, my guess is these websites days are numbered.
You will have to pay taxes. Their sites disclose that any payout over a certain amount is reported.
This isn't a joke, it's the damn truth.They won't survive if the federal government isnt getting their cut.
Of course the gov't s getting their cut. People who do make money doing it pay taxes, plus both of these site pay taxes on their profits and their employees have witholdings, etc. That obviously isn't the issue here.
FanDual and DraftKings are indeed gambling. I'm not against gambling, per se. Corruption is inherent in gambling. It needs to be regulated. It also needs to be decided state by state, as is done with any other games. Lastly, sports gambling is a threat to the integrity of sports. European sports suck because they are all on the take (yes, I know this is hyperbole). But seriously, there is a huge pressure to fix games. The more at stake someone has in the outcome of a match the more pressure they will put on the participants. Don't think that money can't buy some of the players and coaches. It does.
As for FD and DK commercials, yeah, I'm sick of them. I don't know that I'd go so far as to call someone an "east coast loser." Are we hateful of all other areas of the country besides our own? I've always been able to make friends across cultures and areas of the country/world.
As for FD and DK commercials, yeah, I'm sick of them. I don't know that I'd go so far as to call someone an "east coast loser." Are we hateful of all other areas of the country besides our own? I've always been able to make friends across cultures and areas of the country/world.
there is gambling on sports rather it is legal or not. much better to bring it out into the open so that weird betting patterns can be investigated much more easily if you're worried about fixed games. I've thought only a handful of games over the last ten years that I have bet on were likely to be fixed. A couple of them involved Toledo several years ago where I turned out to be correct. The only one that I would want investigated so far this year is Charlotte/Florida International. Line was 10, dropped to 7 or 7.5, and closed 9.5.
http://espn.go.com/college-football/boxscore?gameId=400763607
Only problem is I'm not sure which team was (more?) on the take.
http://espn.go.com/college-football/boxscore?gameId=400763607
Only problem is I'm not sure which team was (more?) on the take.
The commercials or horrible. I mean terrible. Showing some "average joe loser" who is not only able to "live out their dream" of playing a sport they can't, but also win a whole bunch of money too!! Terrible. Click bait crap for sheeple. Actually, if they made it legal but said you couldn't advertise it, then I'd be for that. The abhorrent TV ads need to stop.
I watched a Thursday night Marshall game about 5 or 6 years ago where it looked like Marshall had a QB and WR or two doing some point shaving. Marshall was a big favorite. Four or five dropped passes and a couple fumbles and the game stayed close. The problem for Marshall though was that they actually got beat. It was never investigated but it should have been. It looked obvious to me.
I'm one who thinks their financial backers can make a difference how the DOJ rules.
http://espn.go.com/chalk/story/_/id/13326551/draftkings-obtains-additional-300m-financing
7/27/2015
On Monday, daily fantasy sports site DraftKings announced it has secured an additional $300 million in financing.
The financing round includes investments from Fox Sports, Major League Baseball, the NHL and Major League Soccer, as well as Legends Hospitality (owned by the New York Yankees and Dallas Cowboys) and The Madison Square Garden Company (owner of the Knicks and Rangers). The Kraft Group, which owns the New England Patriots and Revolution, invested in a prior round.
http://espn.go.com/chalk/story/_/id/13326551/draftkings-obtains-additional-300m-financing
7/27/2015
On Monday, daily fantasy sports site DraftKings announced it has secured an additional $300 million in financing.
The financing round includes investments from Fox Sports, Major League Baseball, the NHL and Major League Soccer, as well as Legends Hospitality (owned by the New York Yankees and Dallas Cowboys) and The Madison Square Garden Company (owner of the Knicks and Rangers). The Kraft Group, which owns the New England Patriots and Revolution, invested in a prior round.
Fanduel and Draft Kings are only around for the sharks to have a large pool of casual fantasy players to feast off of. People need to realize there are a group of professional players here who spend hours upon hours each day crunching numbers/stats, which gives them a huge upper hand over people putting a team together just for fun. That is why I play, but only stick to the 50/50 leagues. Anything beyond that is going to be a losing proposition long term as the guys who do this professionally are just stealing the money.
They're not stealing. They are better at a game that others voluntarily play. Poker players make money off of worse players. Professional traders make money off of worse investors. People voluntarily take negative expected value risks all of the time (lottery is the most obv example) in the hopes that they will get lucky, and in the event that they don't, they at least enjoyed some entertainment value out of the experience. So what?
I have done just fine and I wouldn't say I am a numbers cruncher guy. I watch football. So far over 6 weeks I have yet to lose money over a single weekend. I am not playing with a ton of money so I'm not winning huge numbers but I've already taken my initial investment out after the first week and have been playing with "house money" ever since. Its fun. Now after all is said and done, they may shut down, so the real gamble now is to know when to fold em and get my winnings out before they get frozen by the feds. Sort of a side bet each week with the house!
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