Re: DFS discussion (NFL Week 1)
Changes DFS needs IMO.
1. Should have said mega multi entry. In order to justify it as a game of skill, thus legal, it cannot be a lottery where you enter same contest 300 times. There is no skill in that. It is using a math model to try and win by chance/luck.
2. All contest should either be single entry and all other leagues be variations with a maximum being contests that allow up to five entries. This keeps it being a game of skill.
3. Find a way to not have above be skirted around. John Smith signs up. He opens an account for his wife Cindy Smith and mom and dad as well. He can now enter single entry contests four times.
This goes on rampantly even now. If politians are "vetted" than so should all DFS players. How this can be done I have no idea but players will sign up as many accounts as they can. Sites have weak "rules" to try and prevent this but right now I could open up multiple accounts in the next hour with no problem. Get 4 friends to give me their info, good friends of course and open account with their credit card, address, etc. I give them cash and tell them I will give them a little piece of any winnings. No problem at all.
4. SEC has a compliance procedure with brokerage firms. Their guy in the DFS place of business overseeing operation. DFS needs this times X. Not fan of Govt mind you. But someone with no ties to Draftkings or Fanduel needs to have an office in their shop that knows complete operation and has total authority to make sure there is TOTAL TRANSPARENCY. Public with any brains should have no trust in anything these companies currently say or do.
5. Every employee must also go through a "vetting" procedure. If you are a player than you can't work in the industry. You cannot be every day in the building where all pertinent information to winning is stored and play as well. Departments need to be totally independent of each other meaning someone who works in the salary determination department can't be in a cubicle next to someone who works in the think tank department that creates the different types of contest. DFS is so lucky to even be legal getting around game of skill issue only issue not employing players is a sacrifice they need to make.
Bottom line it is gambling with a high degree of skill needed if regulated and not the lottery it is today.
6. Every lineup you enter by hand. This is only legal due to loophole. No scripts or computerized systems to data dump(lineups)
So many other issues they need to correct to regain public trust. Only 3 types of people play DFS today unless they just don't care about losing.
1. The insider
2. The not informed or unaware of what they are up against because when money is involved people cheat.
3. As Baseball Zealot stated, play occasional single entry although you are playing same person with not just a single entry due to "ghost" accounts. Play with friends and use site, paying the rake, but it allows you to have them to the work of tracking contest.
If you are playing high stakes and are not an "insider" you are probably losing almost exclusively.
The development of all the information sites as Mr.Top said is a great point. It allows the gambler access to so much information at no cost that can assist in handicapping greatly.