Ever since the invention of the
internet, mankind has been seeking two things from this revolutionary
technology; ways to entertain one’s self and ways to make money. So began new forms of entertainment
including the popular Netflix, Spotify and Pandora and different forms of
ecommerce, ranging from email providers to online retailers and online news
subscriptions. One of the most popular
forms of entertainment that begin with the internet was Fantasy Sports leagues,
in particular football. These leagues
consist of a player hand selecting different football players from different
teams who play different positions in hope to obtain more points than their
competitors. These leagues originally
were played amongst friends, co-workers or acquaintances and would last the
duration of the sport’s regular season. Most of these fantasy leagues were
played for money, where a single commissioner would be in charge of collecting
the fee and payouts at the end of the year.
This would all change when
companies like FanDuel and DraftKings introduced a new revolutionary idea;
daily fantasy sports competitions. This
new type of fantasy competition allows you to play in new competitions and
tournaments each week, allowing the player to choose new players in each league
and receiving payouts if they win each week rather than at the end of a sports
season. It also allows the user to spend
as much money and enter as many competitions as they please. There are different types of tournaments such
as first place wins all, top 10%, double up, triple up and 50/50 leagues so the
user can comfortably assess how they would like to gamble.
All this seemed to be fair until
earlier this month a lawsuit had been filed against both DraftKings and FanDuel
for insider trading. It was discovered
that employees at DraftKings made over 6 million dollars by using nonpublic
info in their databases to help them choose higher scoring players and compete
in FanDuel (since they were not allowed to play at their own company) and vice
versa. This leads to these employees
having an unfair competitive advantage when playing in these tournaments and
could potentially be the reason you lost money on these sites! So if you think you might have lost a couple games playing on these daily fantasy sites, now might be the time to consider filing your own fantasy football lawsuit.
No comments:
Post a Comment