The Fantasy sports betting market is running wild. Perhaps politicians are getting paid off to allow daily fantasy sports betting while they deem online poker illegal. Whatever the case its wrong because there is more money lost with daily fantasy sports betting via Draft Kings & Fan Duel then there is money lost to online poker and offshore sports betting over the past 5 years COMBINED.
A tiny percentage of players who participate in Draft Kings and Fan Duel actually make money. That number as of week 3 of the football season was down to 8% of players making all of the money. Professional poker players who have shifted over to fantasy sports betting are making good money and taking the bigger pots just as they did on Full Tilt, Bodog, and Poker Stars from all of the amateurs.
Real earnings though come from events that are not a zero sum game. A zero sum game in game and economic theory is when one person loses another one wins. The house takes their cut for allowing the poker players to play at their table or in 2015’s NFL scandals case allowing gamblers to bet on daily fantasy sports and taking their vigorish for allowing it to go on.
In sports betting it’s the players versus the house. 100 players can play and all 100 can win. The sportsbook can take on the risk as the house and lose to all 100 players. Isn’t that a lot better than advertising on national television on Sunday showcasing one player who won $250,000 where everybody else lost? Card Player recently featured one of the most successful sports bettors of all time and that gentleman Jon Price explains why delivering Sports Betting Picks is not only more fun than wagering on daily fantasy statistics but it’s also an opportunity for gamers and participants to all make money while letting the house take on the risk as they deem fit.
Do we believe that there would be a greater good for society if sports betting and online poker was legalized instead of Daily Fantasy Sports Wagering? I think we all know that the statistics say that it’s an easy yes. Since its already legal to play and wager with Fan Duel and Draft Kings we might as well just fully legalize sports betting and online poker since only 15% of DFS players also have a sportsbook account.
