Fan Duel and Draft Kings banned in NY

[*Nately120*]

http://bostinno.streetwise.co/2015/11/10/draftkings-banned-in-ny/

Crap! I was JUST about to sign up and make my easy million! Comments? I never looked into this, but it sure seemed "too good to be true" that's for sure.

[GMDino]

(11-10-2015, 10:21 PM)Nately120 Wrote: http://bostinno.streetwise.co/2015/11/10/draftkings-banned-in-ny/

Crap! I was JUST about to sign up and make my easy million! Comments? I never looked into this, but it sure seemed "too good to be true" that's for sure.

A guy I know as posting his experience with one of those last week. He ended up winning $10.




This was my response:

[Rotobeast]

It's rigged.
:snark:

[*bfine32*]

Did folks really think these guys went full court press to make you money?

[GMDino]

(11-10-2015, 11:48 PM)Rotobeast Wrote: It's rigged.
:snark:

(11-11-2015, 12:08 AM)bfine32 Wrote: Did folks really think these guys went full court press to make you money?

Yep.

But people have been making off dumb people as long as there has been money and people.

[Aquapod770]

Good. Now hopefully the other 49 states will join in.

[JustWinBaby]

Read an article that said, basically, only 0.10% make real money in this...and they're all rocket scientists for whom this is essentially a full-time job.

You can get lucky, for a while...but over the long-run you're basically a donator.

[*Wyche'sWarrior*]

I had a feeling it was a sham all along.....you know the old saying "If it seems too good to be true....". What irks me is that MLB has their advertising all over their ballparks, yet they're concerned about "the integrity" of the game as it pertains to others. The hypocrisy is thick......

[*michaelsean*]

I deposited $25 at Draft Kings this year to try it. I was supposed to receive a matching $25 but somehow after using all my money I only "earned" $1.00 of extra money. No idea what I was supposed to do to earn the other $24, but I'm not going to bother finding out as I didn't come close to winning anything. I'd get like 155 pts and be in 4 billionth place.

[Au165]

Don't play tournaments if you really want to win money! That is the issue, people see the big pay outs and want to win it, but the reality is if they are paying out a million dollars on a 5$ entry, obviously they can only pay out a very small percentage of the tens of thousands that entered. I won $100 on $5 early on in a tournament, but I mainly only play smaller 20 to 100 people double up games. Because you only have to finish in the top half to double your money, it is much easier to win. I am up about $250 over the last year mainly playing a couple 5$ games a week. It is very true though that the odds of you actually winning one of the big tournaments is very similar to that of a lottery.

[Belsnickel]

Let's be frank about it, it's online gambling. Remember the downfall of online poker? This will be the same.

[Mike M (the other one)]

(11-11-2015, 11:37 AM)Au165 Wrote: Don't play tournaments if you really want to win money! That is the issue, people see the big pay outs and want to win it, but the reality is if they are paying out a million dollars on a 5$ entry, obviously they can only pay out a very small percentage of the tens of thousands that entered. I won $100 on $5 early on in a tournament, but I mainly only play smaller 20 to 100 people double up games. Because you only have to finish in the top half to double your money, it is much easier to win. I am up about $250 over the last year mainly playing a couple 5$ games a week. It is very true though that the odds of you actually winning one of the big tournaments is very similar to that of a lottery.

You should play in the larger pool double ups. Solid rosters almost always double up. They are also much easier and more forgiving if you have a bad player on your team. The smaller the group, the less chances you have for mistakes in the double ups.

[Au165]

(11-11-2015, 02:40 PM)Mike M (the other one) Wrote: You should play in the larger pool double ups. Solid rosters almost always double up. They are also much easier and more forgiving if you have a bad player on your team. The smaller the group, the less chances you have for mistakes in the double ups.

I like smaller lower entry fee games. The "noobs" play the lower entry smaller games more often, and in those cases they take names over matchups and real value. I will enter a couple entries in each one and I usually win most of them.

[Au165]

(11-11-2015, 01:38 PM)Belsnickel Wrote: Let's be frank about it, it's online gambling. Remember the downfall of online poker? This will be the same.

It is gambling much like playing the stock market. You are using information provided to you on past performance and projections on future performance to try and make a educated guess at value for that week to maximize return based on your budget.

I think really it should be pointless either way as we already allow gambling in many states in the form of the lottery. Legalize all gambling and let people do what they do. It seems like another example of moral relativity to me.

[6andcounting]

Online gambling is illegal only because it's hard to enforce taxation on the winnings. At least New York is consistent about squeezing every last breathe out of nontaxable industries/people.

[*Nately120*]

(11-11-2015, 12:08 AM)bfine32 Wrote: Did folks really think these guys went full court press to make you money?

Probably...people ain't so swift. Personally, I KNOW I can win this because I have a secret no one else does.........Rob Gronkowski is gonna be my TE! SHH!!!

Now what am I going to do with my millions?!

[Belsnickel]

(11-11-2015, 04:20 PM)Au165 Wrote: It is gambling much like playing the stock market. You are using information provided to you on past performance and projections on future performance to try and make a educated guess at value for that week to maximize return based on your budget.

I think really it should be pointless either way as we already allow gambling in many states in the form of the lottery. Legalize all gambling and let people do what they do. It seems like another example of moral relativity to me.

Playing the stock market is indeed gambling. Any wager of money or other materials on something that has an uncertain outcome is gambling. I do find it inconsistent that we allow the stock market and the lottery, and gambling in certain forms in certain places under certain circumstances and think that we just need to stop the whole legislation of morality on that issue. If people want to go broke trying to win against statistical improbabilities then more power to them.

But as of right now, I'd expect to see more cracking down on this stuff.

[6andcounting]

The difference between gambling and the stock market is that the stock market as a whole will grow. It's only a given stock or investment that may have certain chance to increase over a certain time period. In the history of the S&P500 (starting in 1871) I don't think there has been a 7 year span where the market didn't generate positive returns from beginning to end of the 7 year span. Even starting the day before the worst market crashes and economic downfalls that ever happened, within a few years - and no more than 7 - the market was still larger than where it started. Luck is investing in a stock that soon explodes. Diversifying your portfolio and seeing positive returns is less of a gamble and more a proven strategy to grow your money with the market.

[Belsnickel]

(11-11-2015, 07:13 PM)6andcounting Wrote: The difference between gambling and the stock market is that the stock market as a whole will grow. It's only a given stock or investment that may have certain chance to increase over a certain time period. In the history of the S&P500 (starting in 1871) I don't think there has been a 7 year span where the market didn't generate positive returns from beginning to end of the 7 year span. Even starting the day before the worst market crashes and economic downfalls that ever happened, within a few years - and no more than 7 - the market was still larger than where it started. Luck is investing in a stock that soon explodes. Diversifying your portfolio and seeing positive returns is less of a gamble and more a proven strategy to grow your money with the market.

Long term investors in the market are certainly not comparable to your typical gambler. Day traders, though, the type playing aggressively in the market, definitely a form of gambling.

[RoyleRedlegs]

Correct me if I'm wrong, but didn't this start due to corruption and insider trading allegations?