3 ms·
The amusing thing is that they're quoting the fact that 1% of players win most of the money and therefore DFS is gambling. I'd argue that the fact that 1% win m
by eric_h 11y ago
The amusing thing is that they're quoting the fact that 1% of players win most of the money and therefore DFS is gambling. I'd argue that the fact that 1% win most of the time is the strongest signal that it's a game of skill (assuming it's the same 1%).
- makomk 11y agoDue to the way these are structured the main "skill", so to speak, is apparently figuring out what bets other people have made so that you can make different bets, because unpopular bets have a better expected payout than popular ones. That's why most of the profits go to industry insiders who understand what kind of players people bet on.
- eric_h 11y agoGiven the information we have, it's certainly possible that some of that one percent used insider information. Nevertheless, given the number of players that draft kings and fan duel have acquired through their indefatigable marketing campaigns, I would submit that a not insignificant portion (if not a majority) of that one percent figure out the bets others wouldn't make all on their own. Further, math and computers can most certainly help with this given that all the relevant data is public. How long 'til this goes the way of HFT in the stock market?