ALL GAMBLERS

[WebSpinner]

know we have some on here who wager now and then and a few more who like to look at the lines and some who understand the business. just wondering if these fantasy deals, DRAFT KINGS, etc. are hurting sports gambling or helping it. also have to figure if they are paying out seemingly large sums, they must be taking in larger sums. will the book gambling companies request that these deals be regulated or just let them alone, heck, maybe even own them. just curious what anyone knows about their bottom line, who owns them, how they might affect the books and maybe even the little football gambling cards which are prevalent this time of year.

 

[SpiderFan]

We had a couple seminars at work on them, both Fan Duel and Draft Kings--their biggest expenses are advertising. Not the payouts. Both don't make a profit yet. They are tying into more and more teams/leagues/etc every day it seems. It's basically legalized gambling you can do everyday--they figured out a formula to increase the frequency of fantasy games to daily to somewhat mirror the income of gambling without it actually being gambling. I play on Draft Kings. Their 100% or 200% bonuses on deposit are a little misleading. The points you accrue for playing the fantasy games leads you to have $1 at a time released to your account. Very hard to reach those . I played at least 1 fantasy football game every week last season and only was able to get about $5 of the $100 bonus released. I've done well at the golf majors more than anything else. Won a little money on each of the Open and the Championship. Have only done football and golf so far.

 

[WebSpinner]

actually don't do any fantasy for money or not, just interested in who was behind it, how the legal gambling community looked at it and how long before someone wants to define it as gambling. it is cool that someone came up with internet gambling that is legal, so far. thanks Fan

 

[GKiller]

Spinner, fantasy sports like Draft Kings are legal thanks to the Unlawful Internet Gambling Enforcement Act of 2006 which stated the prizes need to be known, the results are based on real statistics and no outcome is based on a point spread or on a single athlete.

Draft Kings is a US Company with HQ in Boston, which may be 1 reason we see that incessant commercial of the masshole Pats fan running on ESPN & other channels. I don't know who "owns", DraftKings and others like FanDuel but they've both taken tons of VC money from lots of places so plenty have invested in it and this includes lots of the professional sports leagues themselves.

So you can be secure in getting your money. Sports betting isn't going away but outside of Vegas it is riskier. I don't know how much it will eat into traditional sports betting but have to believe somewhat, primarily online betting. You get paid out by those offshore betting shops too, at least the "reputable" ones, but they still have to run them through multiple banks, you wait a long time, or you end up at some Western Union. Or you're dealing with a local bookie. So I think the casual bettor due to those reasons will end up putting their money into these legal sites more often. The hard core bettor maybe not.

 

[WebSpinner]

thanks Killer, the advertising is everywhere and incessant but it is the start of football season, assume their biggest time of the year. hope they make it and don't get bounced but will probably be gobbled up if they do very well. use to play the football cards in both ny and new orleans and did have some probs collecting when i won. glad the guy providing my cards was a linebacker at mississippi state, 6'4" 250, a hospital administrator who's contact worked in his hospital. he told me he had to jack him up against the wall for him to pay what i won, twice. those were fun, tough to beat but enjoy that much more than picking players.