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Old 02-06-2016, 08:28 PM   #2151
CohibaBehike
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Re: DFS Industry Discussion Thread

But DFS has way more scalability than poker. Poker there are constraints on a player in the amount of tables they can play at once. DFS you just have to mass import lineups and click buttons in seconds.

I do agree there is less of a skill gap in DFS though, especially if a site has loose pricing.
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Old 02-06-2016, 10:00 PM   #2152
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Re: DFS Industry Discussion Thread

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Originally Posted by wesrwood View Post
I'm in the same boat as you and they told me I didn't earn over 600
I'm not sure if it is same, but the horse track sent me a 1099 that only lists times where I won over $1,000 on one bet.
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Old 02-09-2016, 03:25 PM   #2153
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Re: DFS Industry Discussion Thread

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Really? I was under the impression that skill gaps weren't as large in DFS
More skill gap in DFS than poker.
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Old 02-09-2016, 07:51 PM   #2154
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Re: DFS Industry Discussion Thread

everyone else just waiting for these ****ers to send tax forms? get your **** together
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Old 02-10-2016, 10:31 AM   #2155
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Re: DFS Industry Discussion Thread

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Originally Posted by Losing all View Post
Well this NYT/PBS DFS Documentary focusing on the fast money made by "3rd and schlong" out of his frat house (I ****ing **** you not) should change perception.

http://awfulannouncing.com/2015/pbs-...cumentary.html
This aired last night on PBS. Not as much of a hit piece as I was expecting tbh, but I wouldn't exactly call it pro DFS, lol. My biggest beef is how they transitioned from DFS segment, to illegal ol gambling, to mob run illegal ol gambling, back to DFS. I'm looking forward to the Frontline on jaywalking, child rape, and littering. It's all the same man!
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Old 02-10-2016, 10:32 AM   #2156
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Re: DFS Industry Discussion Thread

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Originally Posted by dkgojackets View Post
everyone else just waiting for these ****ers to send tax forms? get your **** together
I got my stars and draftpot Mon. FD and I believe DK wont be sending them out until late Feb.
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Old 02-10-2016, 10:39 AM   #2157
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Re: DFS Industry Discussion Thread

https://rotogrinders.com/threads/fan...e-late-1141959

https://rotogrinders.com/threads/has...gs-yet-1131124


Can anyone think of a good reason they might need this extension? There was also a thread recently about one of the smaller sites sending 1099's with the old "gross" winnings method. I really hope that isn't what's going on here.
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Old 02-10-2016, 11:16 AM   #2158
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Re: DFS Industry Discussion Thread

I'd imagine they need the extension because their resources are overwhelmed.
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Old 02-10-2016, 11:38 AM   #2159
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Re: DFS Industry Discussion Thread

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Originally Posted by CohibaBehike View Post
I'd imagine they need the extension because their resources are overwhelmed.
How so? they weren't even slightlywhelmed last year with 1099's. The teams of lawyers fighting other battles haven't been pulled off of 1099 duty desk. I doubt that they're so broke (yet) that they can't afford to do whatever they did last year to get them out. I mean they didn't say ETHANNNNN!!!! and quit paying the water bill.
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Old 02-10-2016, 11:45 AM   #2160
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Re: DFS Industry Discussion Thread

You're assuming they had zero player growth from 2014 to 2015.
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Old 02-10-2016, 11:56 AM   #2161
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Re: DFS Industry Discussion Thread

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Originally Posted by CohibaBehike View Post
You're assuming they had zero player growth from 2014 to 2015.
Hopefully that's all there is to it. Still, I highly ****ing doubt this was some undoable challenge that just couldn't be met. More like another unforced error, that just so happened to freak some people out, and piss off many more.
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Old 02-10-2016, 12:37 PM   #2162
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Re: DFS Industry Discussion Thread

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Originally Posted by Losing all View Post
This aired last night on PBS. Not as much of a hit piece as I was expecting tbh, but I wouldn't exactly call it pro DFS, lol. My biggest beef is how they transitioned from DFS segment, to illegal ol gambling, to mob run illegal ol gambling, back to DFS. I'm looking forward to the Frontline on jaywalking, child rape, and littering. It's all the same man!
A mash-up is what substitutes for context or fact checking.

http://www.oxforddictionaries.com/us...nglish/mash-up

Definition of mash-up in English:
noun
informal

"mixture or fusion of disparate elements: the movie becomes a weird mash-up of 1950s western and 1970s TV cop show ...

a mash-up that mixes CNN news with links to Wikipedia articles"

The "DFS/gambling/illegalgambling/mob/regulatory enforcement" mash-up has become a staple go-to because the idea is to link back to every prior similarly themed article to show off as investigative gold. The more elements thrown intoa mash-up article, the more links it can be used for.
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Old 02-10-2016, 05:37 PM   #2163
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Re: DFS Industry Discussion Thread

I am sure this academic study on the skill factor in DFS and the legal context will make interesting reading. Have a look.

http://scholarship.law.marquette.edu...text=sportslaw
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Old 02-10-2016, 06:22 PM   #2164
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Re: DFS Industry Discussion Thread

Quote:
Originally Posted by Losing all View Post
https://rotogrinders.com/threads/fan...e-late-1141959

https://rotogrinders.com/threads/has...gs-yet-1131124


Can anyone think of a good reason they might need this extension? There was also a thread recently about one of the smaller sites sending 1099's with the old "gross" winnings method. I really hope that isn't what's going on here.
That site is reissuing with net winnings FWIW
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Old 02-11-2016, 01:30 AM   #2165
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Re: DFS Industry Discussion Thread

Saw a couple things on this today. According to the first one Poker is not a game of skill, but DFS is.

http://www.pbs.org/wgbh/frontline/ar...-not-gambling/

http://www.acepokersolutions.com/pok...isnt-gambling/
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Old 02-11-2016, 12:52 PM   #2166
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Re: DFS Industry Discussion Thread

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Originally Posted by Goathair View Post
Saw a couple things on this today. According to the first one Poker is not a game of skill, but DFS is.

http://www.pbs.org/wgbh/frontline/ar...-not-gambling/

http://www.acepokersolutions.com/pok...isnt-gambling/
LOL, the "first one" is an interview with the CFO of FanDuel. That he throws poker under the bus would not be surprising:

Matt King has heard the criticism about daily fantasy sports. Many outside the industry say that it’s gambling. But King, the chief financial officer of FanDuel, one of the top two daily fantasy sites, disagrees.

“Every time that you talk to our users,” says King, “what comes through loud and clear is the fact that we are an entertainment product.”

And unlike gambling, which is made up of games of chance, daily fantasy sports “is truly a game of skill,” says King. “Just like football or basketball. The more you practice, the better that you get.”

Well, it could be poker. Poker is a game of skill, right?

No poker is not.


So you don’t think winning at poker involves skill?

There is a lot of academic research on this, what’s the skill versus luck kind of spectrum. The reality is within poker, every time you shuffle the deck, it creates an element of luck that trumps it basically to being much more a chance-dominated game than a skill-dominated game. If you look at our data, the players that are good, are frankly consistently good. It is truly a game of skill. … Just like football or basketball. The more you practice, the better that you get. Many of the forms of regulated gambling are actively constructed so they are games of chance, and that is a very, very different experience than a game of skill, which is what fantasy clearly is."

With all due respect, Mr. King was either delusional or lying/spinning. Every entertainment and skill attribute he assigns to participation in DFS applies to direct betting on sports.

Much of the skill v chance analysis spun in this area ignores that sports-betting is sports-betting. Showing that sports-betting is is a" skilled "activity does not make running a sportsbetting business legal where it is specifically outlawed by statute.
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Old 02-11-2016, 04:42 PM   #2167
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Re: DFS Industry Discussion Thread

https://www.youtube.com/watch?v=DYooduyPcL0

ready for fanbattle?
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Old 02-11-2016, 05:19 PM   #2168
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Re: DFS Industry Discussion Thread

lmfao @ those Matt King quotes
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Old 02-11-2016, 06:36 PM   #2169
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Re: DFS Industry Discussion Thread

Toby Gerhart 12
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Old 02-11-2016, 09:57 PM   #2170
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Re: DFS Industry Discussion Thread

"What we are is similar to eBay."

--Matt King

Haha yeah, ok. It's really hard for me to believe there can be like a billion dollars of venture capital behind startups run by total ****ing clowns like this guy. Props to the interviewer here though--he completely wrecks this dip**** with his line of questioning. And obv I am pro dfs, but this guy's answers are so god damn terrible that it makes me cringe.
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Old 02-12-2016, 04:10 AM   #2171
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Re: DFS Industry Discussion Thread

Quote:
Originally Posted by Losing all View Post
https://rotogrinders.com/threads/fan...e-late-1141959

https://rotogrinders.com/threads/has...gs-yet-1131124


Can anyone think of a good reason they might need this extension? There was also a thread recently about one of the smaller sites sending 1099's with the old "gross" winnings method. I really hope that isn't what's going on here.
I hope they keep reporting net winnings and the IRS keeps allowing this (as that is how it should work), but it is gambling so why can't we do the same with poker winnings? If challenged, DFS winnings/sessions would need to be treated like poker currently is, or poker would need to be allowed to be treated like DFS currently is. There is not legitimate reason for distinction between the two. Also, if I have other gambling losses I should be able to deduct them from any DFS winnings.

Last edited by Shoe; 02-12-2016 at 04:28 AM.
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Old 02-12-2016, 06:55 PM   #2172
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Re: DFS Industry Discussion Thread

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Originally Posted by Shoe View Post
There is not legitimate reason for distinction between the two. Also, if I have other gambling losses I should be able to deduct them from any DFS winnings.
I've been doing this on my taxes for 3 years (offsetting MTT bricks off DFS winnings), and everyone in this forum and other forums was taking a **** all over me saying I'm not reporting my income correctly.

Guess I've been vindicated by the fact that there is a different attorney general each week issuing opinions that DFS is gambling.
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Old 02-17-2016, 05:30 PM   #2173
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Re: DFS Industry Discussion Thread

Not looking good at Fantasyhub:

https://rotogrinders.com/threads/wit...asyhub-1167884

Another domino of Ethangate? Probably. How the hell are these small sites going to get more funding now?
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Old 02-19-2016, 07:03 PM   #2174
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Re: DFS Industry Discussion Thread

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Originally Posted by Losing all View Post
Not looking good at Fantasyhub:

https://rotogrinders.com/threads/wit...asyhub-1167884

Another domino of Ethangate? Probably. How the hell are these small sites going to get more funding now?
Yea they are done. The sad thing is that they stiffed the charities too. ****ing pathetic. http://www.legalsportsreport.com/841...ub-shuts-down/

Sites should not be holding player balances. Period. DFS sites are not licensed banks or investment accounts, even though that's exactly how they operate. They have no FINCEN oversight, and when shtf, it's always the players (and now charities) getting screwed.

The simple fix to this would be:
A) players buy tickets to the contests they want to enter through a shopping cart, like buying tickets to any other event. Build lineups before or after checking out.
B) cut winners checks once a week if the amount is over $50.
C) charge a processing fee at checkout to cover rake, and/or withdrawal fee for checks to cover payment related expenses.
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Old 02-23-2016, 05:30 PM   #2175
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Re: DFS Industry Discussion Thread

http://venturebeat.com/2016/02/22/da...ying-unicorns/

Some fun dfs industry stats thrown around in this article:

"FanDuel raised an estimated $275 million in June 2015, and still has about $75 million to $100 million of that. DraftKings raised an estimated $500 million in 2015."

"The biggest expense is prizes for fans, while the second-biggest cost is sales and marketing... The cost to acquire a new user was somewhere around $125 to $175 in 2015. Also worth noting: the top 10 U.S. states accounted for 62 percent of the revenue in 2015. "

"1 percent of the users account for 60 percent of entry fees"

"FanDuel lost $137 million before taxes in 2015, while DraftKings lost an estimated $280 million. "

"both DraftKings and FanDuel have likely lost their unicorn status [startups valued at over $1 billion]"

"DraftKings is reportedly raising money at a significantly lower valuation"
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