The Future of Daily Fantasy

German CTL

German CTL

Circle City Outlaw
With states like Nevada and now NY banning daily fantasy sites like Fanduel, its becoming painfully obvious that our gubmint will not stop until DFS is no more.

The Attorney General of NY has stated that DFS is in fact, gambling. Citing the idea that the public has no control over the performance of players or outcomes of games.

Soooooo. What's the difference between wagering on the performance of a horse in any given race and wagering on the performance of a QB on any giving sunday? What about betting on the outcome of random numbers being drawn in a powerball machine?

If an experienced horse bettor can use his acquired knowledge to win a bet on a horse and its performance.... Why can't I use my acquired knowledge of a certain player to win a bet on his performance??

I mean seriously!! WTF!!??
 
German CTL

German CTL

Circle City Outlaw
cctekguy said:
Taxes aren't being collected from fanduel
Click to expand...
OK so why can't the same rules they apply to betting horses, apply to DFS? From what I understand only the bigger winners are subjected to taxes from the IRS when it comes to horse racing.

It just seems like such bs that they've always considered fantasy a game of skill and now all of the sudden its not.
 
ExperiencedRookie

ExperiencedRookie

Well-Known Member
cctekguy said:
Taxes aren't being collected from fanduel
Click to expand...
Ding ding ding. We have a winner. Johnny, tell him what he's won.

This is EXACTLY what this is all about. It's not some damn question of the morality of gambling and what falls under the umbrella. It's the greed of each individual state, standing at Fan Duels doorstep with their hand out, telling them to render unto Caesar.

State officials don't give 2 sh/ts about what qualifies as gambling. Just take a look at the 2 states who gave the big push back on a national scale. Nevada and Jersey. Geeeee, I wonder why?!?

Could it be because those are the states who could line their pockets the heaviest if somehow Draft Kings went the way of Party Poker??

If this can gain steam and eliminate the big players from the marketplace, it will take all of 13 seconds for Caesar's Entertainment to launch their own brand of daily fantasy available in all of their casinos and online to in state residents. They'd probably even name it something similar just to further thumb their noses at the Giants that they crumbled. "Ladies and gentleman, the Bellagio proudly presents : Draft Lords".

The casinos get the market cornered (again) and make themselves millions. They of course have no problem playing the role of happy constituents while kicking 8% upstairs to their governor who watches their back.

5 years from now we'll have a new form of bookie. Some shady guy who sets player prices on his own, and peels 10% off the prize pool while everyone submits their lineups via hand written notes on newspaper scraps, text, or email.

This REALLY bothers me. Each state is more than happy to run billboards pimping the 58 million dollar Powerball, that I have 0.0000000002% chance of winning. Keep feeding the greed for the most obvious form of gambling I've ever seen, yet want to pretend like DFS is the devil all because they didn't think of it first.

Piss off! Stop telling me what to do with my money. I pay my taxes, what more do you want?? Greedy f'ing pigs.
 
MongerKhan

MongerKhan

TXL: Pimp Hand Strong
Staff member
Moderator
This actually hurts Fanduel a bit because around 10% of their weekly biz comes from the state of New York.

Now do you know what an exact same activity that goes on in NY 5 days a week is, but it's completely legal?

The NY Stock Exchange.

You buy stocks not knowing how they are going to perform. Do well and you make money (just like on DFS)

OR

You buy a stock and it's performs terribly and you lose your money. (Hey look, that's like DFS as well).

Is that not the definition of a gamble?


As others have eluded to this is about DFS making a shite ton of money and Uncle Sam ain't getting his and he's cranky about it.

Ridiculous.
 
Phicinfan

Phicinfan

Expert on nothing, opinionated on everything
Administrator
Well I am split on this...

Lets be honest here gang, this is gambling, like it or not, it meets the definition. That being said, if your state also has other "legalized" gambling such as lottery or other betting, then why not allow this? If it is a matter of taxation, then pass the taxation.

But don't offer up $300 million power ball or some other lottery and then tell me that isn't gambling and this is, cause they are all gambling.
 
mudloggerone

mudloggerone

Outlaw
Administrator
It's never been legal in Louisiana and I expect it to be shutdown nation wide until the states figure out a way to get their "share." Makes sense to me.
 
hikeNbike

hikeNbike

Well-Known Member
I have no doubt it's gambling. Don't buy any arguments to the contrary. Same as online poker, same as season long fantasy. Yes there is some knowledge or skill component. But regardless of indicators it's still an uncertain outcome. All the planning doesn't account for a player going down with injury for example.

Won't argue that it's not gambling but I am hoping it remains legal. Again why allow horse racing, lotto, etc. Obviously gambling as well. So is the stock market by the way. Sometimes all the research doesn't pay off. Sometimes it does.

As others have pointed out what's in play here is government wants it's money. They weren't getting it with poker so shut it down. This is likely no different. My guess is fan duel and draft kings get shut down and daily fantasy ends up in the casino.

One observation for all the talk of shutting down dk and FD has anyone said anything about yahoo. They have daily fantasy too as I get reminded everytime I check my season long team. Assuming they would shut it down too but have not once heard yahoo looped in with the other two.

Sent from my SCH-I545 using Tapatalk
 
ExperiencedRookie

ExperiencedRookie

Well-Known Member
hikeNbike said:
I have no doubt it's gambling. Don't buy any arguments to the contrary. Same as online poker, same as season long fantasy.
Click to expand...
Depends how you define "gambling".

In my opinion, gambling is taking a shot on something where your odds are exactly the same as anyone else. Dumping $20 into a slot machine is gambling. Betting on red or black is gambling. Putting $15 on a hard 8 at the craps table is gambling. Buying 20 lotto tickets is gambling. There is zero skill involved. No amount of research can sway your odds.

I don't know what kind of case I can make for DFS, but as someone who has played 7 years of online poker and another 7 in a casino as a supplement of my income, I can tell you very confidently that while luck is a part of the game, it's 75% skill. I have 14 years of profitability in the game. Never once posted a losing year, and I'm not even some prodigy or special player. If you put me (or any other seasoned player) at a live table with 9 novice players, the pro player is going to be one of the winning players a VERY large percentage of the time.

I think the same thing could be said for DFS.
 
hikeNbike

hikeNbike

Well-Known Member
I don't doubt that there is skill involved but it doesn't have to be 100 luck to be gambling.

I play dfs and I want to see it remain legal but I believe it is going to be shut down. I think they are going about it the wrong way. I doubt making the argument it's not gambling is going to win the day for them. Think they'd be better off working behind the scenes in some type of compromise with the government with regard to regulation. If they get in a pissing match with the government I believe they are fixing to lose.

Sent from my SCH-I545 using Tapatalk
 
Miller

Miller

Who Dey
Administrator
I find it funny the NY AG claims in his findings that this is purely a gambeling and not a game of skill... Yet cites that the top 1% of the players win the vast majority of the money.... Hmmmm.... How is that possible if this is simply gambling and skill is not involved.

Sounds like he's talking out of his ass and has no understanding of what the Fock he is talking about....

Oh, and those saying the g'ment is not getting theirs are wrong. They are getting taxes from DFS just like other forms of legal wagering.... The sites have to issue 1099's to any player who profits more than $600 in a calendar league and you are required to claim it as income. If your not... I hope you don't get audited.

Pisses me off, I'll be paying taxes to botb FD and DK this year to a damn government that is now trying to shut Jt down...
 
Arctic Dawgs

Arctic Dawgs

Well-Known Member
Not really

Futures you are buying a product, oil, wheat, pork bellies, etc... in advance and hoping to sell later at a higher price
Stocks, you are buying a percentage of ownership in the company
 
German CTL

German CTL

Circle City Outlaw
Arctic Dawgs said:
Not really

Futures you are buying a product, oil, wheat, pork bellies, etc... in advance and hoping to sell later at a higher price
Stocks, you are buying a percentage of ownership in the company
Click to expand...
This is true... But what about the lotto, what about the ponies???
 
ExperiencedRookie

ExperiencedRookie

Well-Known Member
Arctic Dawgs said:
Not really

Futures you are buying a product, oil, wheat, pork bellies, etc... in advance and hoping to sell later at a higher price
Stocks, you are buying a percentage of ownership in the company
Click to expand...
And in both of those cases, you send in your money, cross your fingers, and things go one of 2 ways, up or down.
 
You must log in or register to reply here.
Top