Draft Kings

Yes. They rake 5-10% of all the money bet each night. They would be stupid to touch the players' cash. They probably keep it in short term investments and make a few points of it. The venture capital is going to player acquisition, the rake pays day to day stuff, and the players' money isn't touched.

 

I have no problem with gambling whatsoever. Having said that, it pisses me off that the very law passed by Congress to stifle online poker (Unlawful Internet Gambling Enforcement Act) included an express carve out for these type of sites.

I should be able to go online and play 5 cent 10 cent poker if these sites can take in hundreds of millions of dollars in money. They're both games of skill that have an element of luck involved. They both can financially wreck people that become addicted and have insufficient skill to win. They both can allow people to win big time money. For the vast majority of people, you can use your hard earned cash to play around and entertain yourself with.

I'd bet Congress didn't intend for these types of sites to become such a huge success when they wrote the exemption in UIGEA. I'm assuming they were thinking of the traditional fantasy league where each guy throws in an entry fee and the top X places are paid out at the end of the year. Someone was smart enough to take advantage of the loophole and make big money.

 

So I might try FanDuel for the NFL season. Here's my free game for signing up.

 

Pick your sport, pick your team, pick up your cash!!!

 

And sign up your bank account, and wait for the Ashley Madison-like hack to occur.

 

That's why I'm going to have Fan Duel send me a check instead of an electronic transfer. Just as soon as I turn this $76 I'm up into six figures.

 

It could all happen today, Jake. Never forget that!

 

I don't put nearly the time and effort into DraftKings to make it worth betting any kind of significant money. I think I'm still working off a $50 deposit from sometime last year. I play mainly "just in case" I luckbox into a great lineup. Very lottery-like. Fun, though.

 

Here's my NFL Week 1 lineup....

QB: Bradford
RB: Forsett
RB: Hyde
WR: Adams
WR: Allen
WR: Matthews
TE: Witten
FLEX: Olsen
DEF: Panthers

 

Now it's just a matter of picking up your cash.

 

They would have to be idiots to fuck it up. Everything is hedged by the number of people joining the game. Doing a little simple algebra shows you every "league" or "game" gives them money back no matter who wins.

It's better than owning a casino.

 

Weren't you the one implying that they aren't legit?