Fantasy Sports Employees Bet at Rival Sites Using Inside Information

Post by 0verc00ked » Tue, Oct 06, 2015, 1:28 AM UTC

0verc00ked wrote: post #31

FanaHOVA wrote: post #8

Earlier quoted context omitted.

Even with that, you'd still have to be good enough to pick the best roster. I don't think it's as useful as the article makes it sound.

Not true. If anything, it's even more useful than the article makes it sound. If you knew absolutely nothing about sports, but had access to this data and a fairly basic understanding of probability and statistics, you could use this data to be basically +EV in any large field contest you enter. The lottery analogy by slg is a great metaphor to understand it.

Post by irishcoffee » Tue, Oct 06, 2015, 1:43 AM UTC

swanson wrote: post #17

zem wrote: post #4

someone please explain like i'm five - according to the wikipedia page, fantasy football scoring is based on the actual performance of the athletes you pick in an actual game. therefore, if the games themselves are not fixed, there should be no possibility of "insider information" - what information could the companies running the pool have that the general public do not? the article didn't make it any clearer.

Let's say that you, zem, are an expert player and you have entered a roster into DraftKings Million Dollar contest. I, swanson, am an employee of DraftKings and have access to your lineup and/or data about all the other lineups entered. (* This is speculation) I, swanson, then use this inside knowledge to make my own lineup on FanDuel (I am not allowed to play on DraftKings because I work there). I win big money on F…

Post by interesting_att » Tue, Oct 06, 2015, 1:47 AM UTC

onewaystreet wrote: post #34

icelancer wrote: post #3

As someone who worked in the Internet gambling industry and has to sit and see these Daily Fantasy Sports idiots run their loophole into the ground, I can only laugh. You can't flout your "legality" in front of a bunch of US Senators, advertise fraudulent returns, and have zero regulations and expect to get away with it.

Daily Fantasy Sports probably wont go the way of poker for a couple of reasons: 1. DraftKings and FanDual are US based companies, most of the big poker sites were not. 2. There is an exception for fantasy sports in the Unlawful Internet Gambling Enforcement Act. You can debate whether Daily Fantasy Sports should qualify, but unlike poker it is at least starting on legal ground. 3. Daily Fantasy Sports has buyins from…

Post by supercanuck » Tue, Oct 06, 2015, 2:08 AM UTC

npkarnik wrote: post #25

icelancer wrote: post #3

As someone who worked in the Internet gambling industry and has to sit and see these Daily Fantasy Sports idiots run their loophole into the ground, I can only laugh. You can't flout your "legality" in front of a bunch of US Senators, advertise fraudulent returns, and have zero regulations and expect to get away with it.

I used to think this exactly...but now, given how heavily the NFL, NFLPA, and individual teams have been promoting Draftkings/FanDuel, it's obvious that the business model involves paying kickbacks to all the important stakeholders in the sport. And regarding how relatively chummy the NFL is with elected officials, don't forget that commissioner Roger Goddell's father was both a senator and representative from NY sta…

Post by oxide » Tue, Oct 06, 2015, 2:13 AM UTC

jaynos wrote: post #19

zem wrote: post #4

someone please explain like i'm five - according to the wikipedia page, fantasy football scoring is based on the actual performance of the athletes you pick in an actual game. therefore, if the games themselves are not fixed, there should be no possibility of "insider information" - what information could the companies running the pool have that the general public do not? the article didn't make it any clearer.

The advantage is in knowing what percentage of football players are started by the entire pool entrants. This information is released once that particular game is started (e.g. % start for NY Giants players would be known to all at 1 PM when their game started and % start for Denver Broncos players would be released at 4PM when that game started), but was known ahead of time by those who worked for the company. While…