Fan Duel, et al

[Fijimn]

Well...I'd get your last plays in because they got too big, too popular and made too many commercials...the biggest gangsters in the U.S. (state and federal governments) are about to shut them down for not wetting the government's beak...


No mas, in Nevada..

http://es.pn/1PwUak5

 

[mnole03]

Well...I'd get your last plays in because they got too big, too popular and made too many commercials...the biggest gangsters in the U.S. (state and federal governments) are about to shut them down for not wetting the government's beak...

No mas, in Nevada..

http://es.pn/1PwUak5

This will be a fun political battle between well connected PE firms that are heavily invested in traditional sports betting (Blackstone, Apollo, etc.) and the funds with large stakes in daily fantasy (KKR and a number of midsize funds.)

 

[Fijimn]

This will be a fun political battle between well connected PE firms that are heavily invested in traditional sports betting (Blackstone, Apollo, etc.) and the funds with large stakes in daily fantasy (KKR and a number of midsize funds.)

I have been told that Google engineers wrote the platform for Fan Duel

 

[Formerly Rockymtnole]

Gotta protect the scratch off revenue!

 

[jeffy]

Ain't big government fun?

 

[mnole03]

Nevada's share of sports betting is $4 billion a year, at a nearly 6% profit margin. I can see why they're interested.

 

[coloradonoles]

If they completely shut it down, I have very little confidence all the funds are there to pay everyone out.

Might cash out now and see where the chips fall.

 

[DanC78]

I read or saw something yesterday that Comcast and a few other huge corps owned FanDuel (maybe ESPN)

I had no clue.

 

[runkpanole]

I have no problem with gambling, but it is gambling.

 

[DanC78]

If they completely shut it down, I have very little confidence all the funds are there to pay everyone out.

Might cash out now and see where the chips fall.

I just cashed mine out. It wasn't much, but better safe than sorry. And to be honest, I didn't find it that exciting. I was hoping it would increase the level of fun on my Sundays, but not so much.

 

[mnole03]

I read or saw something yesterday that Comcast and a few other huge corps owned FanDuel (maybe ESPN)

I had no clue.

Yeah, Comcast actually has a VC arm. Comcast proper must also be one of the biggest beneficiaries of the nearly ubiquitous advertising campaign.

 

[gonolesgg]

I had more fun with baseball than fb. I don't even really watch baseball but it was easier to win than fb. Fb I always seemed to get passed up because there were too many games/players. Almost like there were bots....

I'll cash mine out soon....Don't see how this doesn't turn into gambling and all states shut it down....its gambling...

 

[semifan1]

I had more fun with baseball than fb. I don't even really watch baseball but it was easier to win than fb. Fb I always seemed to get passed up because there were too many games/players. Almost like there were bots....

I'll cash mine out soon....Don't see how this doesn't turn into gambling and all states shut it down....its gambling...

That's one reason I like to play the 2 games most of the time. Too much time looking into match ups and such. Then when an unknown guy score 25 and people have him you're like how the hell did he know this guy was going to blow up out of everybody.

 

[Cubs79]

I have never done fanduel, but have draftkings, but I am done with either until they get it sorted out.

 

[dmm5157]

So does this mean all those shity commercials will go away soon?

 

[LesClaypool]

So does this mean all those shity commercials will go away soon?

Please let it be so.

 

[SWFNole]

I read or saw something yesterday that Comcast and a few other huge corps owned FanDuel (maybe ESPN)

I had no clue.

Not ESPN, but nbc sports ... and not owners, but invested as venture capitalists so they likely have a minority stake. Likely an ownership percentage, but not a controlling interest.

 

[rhurner]

Not ESPN, but nbc sports ... and not owners, but invested as venture capitalists so they likely have a minority stake. Likely an ownership percentage, but not a controlling interest.

comcast owns nbc

 

[DFSNOLE]

So does this mean all those shity commercials will go away soon?

Apparently not. Just watched one.

 

[CC0492]

It's a racket. And the commercials are misleading to the unwise. But gamblers get lured in because they have a weak constitution like any other vice.

 

[Formerly Rockymtnole]

Meanwhile, Illinois is giving lottery winners IOUs due to a budget crisis.

 

[DanC78]

Apparently not. Just watched one.

It's only illegal in Nevada. You have to have a certain license there which apparently they do not. If they were to apply for the license then they would almost be admitting that it's gambling. So I don't ever see it being legal to do in Nevada. The good news is, there are better ways to gamble when in Nevada than Draft Kings.

And did anyone see The Daliy Show piece about this yesterday? It was pretty good. They made a good case on why it is not gambling, but more like day trading.

 

[rhurner]

but more like day trading.

Which is a form of gambling. To me..... gambling is betting on something about which you have little or no predictive ability. In day trading (or any speculative investment) you have some information. But not enough to always be right. Same with sports.

To support my point......the best of the best business analysts stay in business by... beating a benchmark by a few basis points. MOST of the time. Even these Ivy League allstars don't always have winning quarters. They just have to win more than they lose.....oh and hope the markets don't tank for an extended period.

 

[Fijimn]

It's gambling and they aren't paying any vice taxes. If you don't pay the man, the man will shut you down

 

[DanC78]

Which is a form of gambling. To me..... gambling is betting on something about which you have little or no predictive ability. In day trading (or any speculative investment) you have some information. But not enough to always be right. Same with sports.

To support my point......the best of the best business analysts stay in business by... beating a benchmark by a few basis points. MOST of the time. Even these Ivy League allstars don't always have winning quarters. They just have to win more than they lose.....oh and hope the markets don't tank for an extended period.

I hear ya HurnDogg...you should watch the Daily Show piece I was referring too, you'd like!

 

[mnole03]

And did anyone see The Daliy Show piece about this yesterday? It was pretty good. They made a good case on why it is not gambling, but more like day trading.

Daily options trading is certainly a form of gambling. You have to have allow some degree of speculation to support markets. Options are necessary for risk management purposes. It's gambling in the same sense that insurance or unsecured debt issuance is gambling. The securities themselves are a necessary evil, and trading is regulated more than daily fantasy, for sure.

 

[Gonolz]

It's gambling and they aren't paying any vice taxes. If you don't pay the man, the man will shut you down

I'm assuming with all the high profile PE and public companies invested, unlike the offshore poker sites that got whacked, these businesses are at least paying a vig to the Feds via taxes. The U.S. government is the biggest mafia in the world. You gotta give them their cut. They probably weren't paying off the state of Nevada, thus the Nevada ban. As you pointed out, perhaps another big money lobby can get D.C. to put more of a squeeze on them. Obviously it worked in Nevada, but with the exception of the mafia ... er, I mean government ... lotteries, I don't think there are major legal brick and mortar businesses outside of Nevada sports betting from which this is taking money.