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Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsFantasy Sports Employees Bet at Rival Sites Using Inside Information
http://www.nytimes.com/2015/10/06/sports/fanduel-draftkings-fantasy-employees-bet-rivals.html?smid=tw-nytimes&smtyp=cur&_r=0A 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.
The incident has raised questions about who at daily fantasy companies has access to valuable data, how it is protected and whether the industry can or wants to police itself.
(snip)
Eilers Research, which studies the industry, estimates that daily games will generate around $2.6 billion in entry fees this year and grow 41 percent annually, reaching $14.4 billion in 2020. So high are the potential financial rewards that DraftKings and FanDuel have found eager partners in N.F.L. teams, even as the league remains a staunch opponent of sports betting.
Jerry Jones of the Cowboys and Robert K. Kraft of the New England Patriots have stakes in DraftKings and the company recently struck a three-year deal with the N.F.L. to become a partner of the American football leagues International Series in Great Britain, where sports betting is legal. In addition, DraftKings has tapped hundreds of millions from Fox Sports, and FanDuel has raised hundreds of millions of dollars from investors like Comcast, NBC and KKR.
(end snip)
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Fantasy Sports Employees Bet at Rival Sites Using Inside Information (Original Post)
deminks
Oct 2015
OP
And the fantasy football companies have a huge stake in the outcomes of the games; right refs?
Dont call me Shirley
Oct 2015
#1
No surprise the two biggest crooks in the league have a stake in it......
ProudToBeBlueInRhody
Oct 2015
#2
Its just a different type of gangster that is now collecting the billions bet each week on NFL games
winstars
Oct 2015
#5
this fantasy thing creeps me out....would love a scandal to ruin jones and kraft
dembotoz
Oct 2015
#6
Dont call me Shirley
(10,998 posts)1. And the fantasy football companies have a huge stake in the outcomes of the games; right refs?
ProudToBeBlueInRhody
(16,399 posts)2. No surprise the two biggest crooks in the league have a stake in it......
Jerry Jones of the Cowboys and Robert K. Kraft of the New England Patriots have stakes in DraftKings and the company recently struck a three-year deal with the N.F.L. to become a partner of the American football leagues International Series in Great Britain, where sports betting is legal. In addition, DraftKings has tapped hundreds of millions from Fox Sports, and FanDuel has raised hundreds of millions of dollars from investors like Comcast, NBC and KKR.
jberryhill
(62,444 posts)3. Never bet on an animal that can read the tote board
oberliner
(58,724 posts)4. Shocker
This whole thing is legalized gambling - and everything that goes along with that world, we will see here.
winstars
(4,214 posts)5. Its just a different type of gangster that is now collecting the billions bet each week on NFL games
They finally figured out a way to make some of the Mobs money.
Thats all it is.
But with NFL teams essentially backing gambling, does it now get back to a "betting on games" issue.
Ask Pete Rose...
dembotoz
(16,740 posts)6. this fantasy thing creeps me out....would love a scandal to ruin jones and kraft
sucker born every minute