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In traditional betting, you have an observable outcome that is external from the bookie (let's say most of the time, unless the match is fixed). Here, if I unde
by seren 11y ago
In traditional betting, you have an observable outcome that is external from the bookie (let's say most of the time, unless the match is fixed). Here, if I understand correctly, the bookies are also simulating the match or rather the season without any external control, or third party auditing. It would be pretty easy to tip the odds in their favor if they have too much to lose. Either I am missing the obvious, or this is a mind boggling stupid way to bet on something.
- knowaveragejoe 11y agoWhen it comes to fantasy sports(and in this case, daily fantasy sports), it sounds like you're missing something. Using football as an example, players(gamblers) select professional players from across all the teams playing in an upcoming set of games. As those games are played, the players they chose score points for a variety of different actions in the game. The person with the team with the most points at the end of the series is 1st place, though the prizes are divided in various ways depending on the game. On sites like Fanduel and Draftkings, the scoring system is viewable by anyone(look for rules & scoring in their footers) and as a result, totally auditable. You can look up detailed records of every single action by every single player in a game and match it with the fantasy points scores.
- seren 11y agoThanks for the detailed explanation.