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  #1  
Old 10-06-2015, 08:20 AM
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Paul335i Paul335i is offline
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I knew the fantasy FB sites were frauds.

insider info.

http://deadspin.com/draftkings-emplo...-35-1734719747
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  #2  
Old 10-06-2015, 09:55 AM
Initial E Initial E is offline
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YUP

I did however give it a shot and have only won $4 on a head to head matchup. I'm not going to even bother with it anymore.
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  #3  
Old 10-06-2015, 11:23 AM
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cmac2012 cmac2012 is online now
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I just read the link and I'm going to have to read it again when I have more time to begin to get how this worked. I've been tempted to try fantasy football but I pull back because I'm thinking I spend too much time on football already.
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  #4  
Old 10-06-2015, 11:34 AM
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Quote:
Originally Posted by fost200sc View Post
I'm not completely understanding what happened. I don't do this fantasy sports stuff.

Can someone explain to me in detail how the fraud was committed? Insider trading? I understand that w.r.t. stocks. Not getting what "inside" information was used, and how, and to what advantage.

Thanks!
The information leaked was basically the equivalent of MNPI (Material Non Public Information) in the Wall Street world. This consists of information such as who are the top players averaged out among all user's teams, the betting percentages of money on various players, spread lines, industry insight on who will be starting, prevalence of players across all users lineups and their own analysis/predictions of the games. A lot of this information is available but only AFTER the games have started and lineups are finalized. Or if a team just flat out announces early that X person will not be playing because of whatever. This kind of information can drastically effect your picks.

The guy was able to analyze the data and pick basically a dream lineup compared to other users that had to just go on the whim of things and hope for the best. He simply just didnt get a list of 'who to play' or whatever. He actually did have to make decisions BUT did so with information that was no publicly available.

Fantasy sports weighs heavily on probability, trends, statistics and of course just pure luck. Very similar to the actual stock market. Being able to analyze this data and being exposed to it on a daily basis gives one an edge over the general user.

This is something more than just some guy who got a depth chart and injury report early from all the teams. He had access to information that Draft Kings put together specifically for their own business operations. Not for someone to take it and win money.
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  #5  
Old 10-06-2015, 11:43 AM
Initial E Initial E is offline
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Originally Posted by cmac2012 View Post
I just read the link and I'm going to have to read it again when I have more time to begin to get how this worked. I've been tempted to try fantasy football but I pull back because I'm thinking I spend too much time on football already.
If you think you spend a lot of time on just enjoying and watching football... Once you get into a fantasy league playing for actual MONEY, even among friends, it's a whole new ball game. People spend HOURS trying to come up with theories, probability, general research and analyzing their leagues teams. It can get very competitive and next thing you know, you've forgotten about this forum and now spend the rest of your time on rotowire.com lol

I use to do fantasy and personally think I was god damn good at it, never placing lower than 3rd and winning good majority of my leagues. At one point i was in 7 leagues all for money. Some $5 buy ins with friends, $20 co-workers, and $200 buy ins with more hardcore friends. I even did a few free public leagues on NFL.com just so I could get perspective on what other random people were doing so I could establish a trend. I would spend pretty much my entire morning at work researching all the players, stats, injury reports, comparing everything to ALL the other teams in ALL of my leagues. Obviously that not a good day to kick off the work day especially when deliverables are due. lol

I'm done with it all... at least for now. But I did dip my pinky into Fan Duel to see what the rage was about and I can see how a lot of people are into it.

Last edited by Initial E; 10-06-2015 at 11:45 AM.
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  #6  
Old 10-06-2015, 12:00 PM
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I learned how to count cards in blackjack approx. 1980. I bought a little blackjack calculator, about the size of the standard TI calculators. It would deal the hands and keep track of your winnings. I got to where I could consistently beat the machine. I knew it wouldn't be quite that easy at the tables and when I went to Reno armed with new formidable talent, I discovered that yeah, it wasn't easy. Game goes quickly, you have to count the other players' cards also, 3 and 4 deck shoes, dealers shuffling up whenever they get a hint that anything is going on.

After a few days, I realized that I would have to devote mega amounts of time for a shot at making it work, and that would be mega time in the dreary confines of casinos, surrounded by lost souls often as not, with low quality free drinks always available. And when all is said and done, the 'skill' of being a successful card counter has very little application anywhere else in the world. I walked away from it. Casino owners don't have giant warehouses full of rare classic automobiles because they let people win money at their joints.

Dreaming about big money w/o working for it is some kind of siren call all right.
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  #7  
Old 10-06-2015, 02:33 PM
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Paul335i Paul335i is offline
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[QUOTE=cmac2012;9323827
Dreaming about big money w/o working for it is some kind of siren call all right.[/QUOTE]

You can win million$.
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  #8  
Old 10-06-2015, 04:44 PM
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as I understand it, he worked at one league and played in another - but he had the inside info on what was being bet by many thousands of users on the site he worked on - there was a very high level of certainty that similar plays would be happening on the OTHER site - so he hand-picked the best team against the players on his own system - but made the play on the competitor (other) system. Turns out he was right - and his inside knowledge gained him $350k. That's like being inside a merchant bank and being able to see the trades on one market and play against them on another market. Quite honestly - this is EXACTLY how the high-frequency traders cooked the markets in the early 2000's.
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  #9  
Old 10-06-2015, 05:27 PM
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I've never bothered with it. It's online gambling pure and simple. Is skill involved? Yes, but poker requires skill too. I work too hard for my money to waste it gambling. I went on the local casino boat once to see what it was like. I took $40 and when that was gone, I left. I haven't been back. Yes, there's lots of glitter, lights, bells and pretty gals. Big deal. If I want to look at pretty women I'll head over to the Boobfest thread. If I want lights and bells I'll dig out the Christmas decorations early.
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  #10  
Old 10-06-2015, 08:24 PM
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This is exactly just like insider trading. The NY Attorney General just got involved and requested by Oct 15 the following:

The names of employees that:
Compile and aggregate athletes’ statistical data;
Determine inputs used to set athletes’ prices for daily fantasy contests;
Code athlete pricing algorithms (note if and where different from 1b.);
Compile and aggregate athletes’ ownership percentages for pending contests;
Compile and aggregate historical ownership percentages for past contests; and
Compile and aggregate daily fantasy players’ data, including but not limited to win/loss records, types of contests entered, number of entries per contest, and money spent and earned
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  #11  
Old 10-07-2015, 03:24 AM
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cmac2012 cmac2012 is online now
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Quote:
Originally Posted by Paul335i View Post
You can win million$.
Wait, wait, you can win millions and party with girls wearing togas? Hmmm ... I might have to rethink this.
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  #12  
Old 10-07-2015, 09:49 AM
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Quote:
Originally Posted by Paul335i View Post
Yes indeed. I saw that coming sooner than later.

Here are the letters the AG have sent wasting no time to investigate these shyters: http://deadspin.com/here-are-the-let...-se-1735097526

Quote:
Daily fantasy's day of reckoning is nigh. In addition to two congressional committees (the House Energy and Commerce Committee and House Judiciary Committee) and a federal agency (the FTC) looking into various parts of the industry, news broke tonight that the New York attorney general has opened a probe into the two players that control daily fantasy, DraftKings and FanDuel.
You just knew there was crap-loads of ca$h exchanging hands with the annoying ads running every commercial break on ESPN!
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  #13  
Old 10-07-2015, 07:34 PM
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Originally Posted by ol' grouch View Post
I've never bothered with it. It's online gambling pure and simple. Is skill involved? Yes, but poker requires skill too. I work too hard for my money to waste it gambling. I went on the local casino boat once to see what it was like. I took $40 and when that was gone, I left. I haven't been back. Yes, there's lots of glitter, lights, bells and pretty gals. Big deal. If I want to look at pretty women I'll head over to the Boobfest thread. If I want lights and bells I'll dig out the Christmas decorations early.
BINGO!


I leave my gambling to stocks. And I'm ahead.
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  #14  
Old 10-08-2015, 08:01 AM
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Paul335i Paul335i is offline
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MA state lottery is looking to get into the action of fantasy sports. This is proof that it's a suckers game.
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  #15  
Old 10-10-2015, 07:08 AM
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Ya think
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