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One would suppose that Senate Majority Leader Harry Reid is a fairly important person and many in the media would already have answers to this question. However, other than his self-serving autobiography, the only biography of Reid is the one I have written, titled HARRY, Money Mob & Influence In Harry Reid's Nevada.
Jay money gamingFull disclosure: I am a 36-year-old dude who bores easily, drinks I.
I watch somewhere between six and 20 hours of basketball per week.
My mind, at its most aimless, obsessively seeks out sports information.
I am, in other words, the target demographic for the daily fantasy sports industry.
Since the start of this N.
I play pretty much every night.
This requires me to pick a team of players — whether baseball, basketball, football, hockey or soccer — each of whom have been assigned a dollar amount, and fit them all under a salary cap.
My losses in D.
But every gambler, whatever the size of the problem, wants to know that he or she has some chance of winning.
The ads, I admit, are what got me.
As of August, both companies had billion-dollar valuations and promised weekly competitions with huge payouts and fast and easy withdrawals.
Then, on Sunday, Sept.
In October, Nevada joined Arizona, Iowa, Louisiana, Montana and Washington on the list of states where DraftKings and FanDuel cannot be played.
In response, a judge ordered them to stop accepting bets in the state.
Last week, Schneiderman asked a judge to order DraftKings and FanDuel to reimburse the money New York State residents have lost on the site.
A chill has hit the D.
Prize pools have been steadily declining, and in the eyes of the public and much of the media, D.
Since the scandal broke, I have traveled to D.
I initially intended to write an article about the bro culture that had sprouted up around D.
At the time, the crusade against D.
You build a spreadsheet.
You project data and enter a team.
You watch the team either fulfill or fall short of your projections.
The next day, you start over again.
Instead, I came across a different sort of problem: a rapacious ecosystem in which high-volume gamblers, often aided by computer scripts and optimization software that allow players to submit hundreds or even thousands of lineups at a time, repeatedly take advantage of jay money gaming players, who, after watching an ad, deposit some money on DraftKings and FanDuel and start betting.
Both companies mostly looked the other way.
And, when evidence of the competitive advantages enjoyed by these high-volume players became too overwhelming for the companies to ignore, DraftKings and FanDuel 2 money games rules that in the end are likely to protect the high-volume players rather than regulate them.
In any case, a stricter ban on computer scripting would have been functionally impossible — because, as a representative of FanDuel told me, D.
Each company took advantage of language in a federal law that allowed them to plug directly into two huge, overlapping populations — fantasy sports players and gamblers.
Each company was able to raise hundreds of millions of dollars in venture capital funding and sponsorships, all of which created pressure to increase user bases, which, in turn, led to an advertising deluge this past fall.
It takes years of testing, regulation and outside oversight to create a reliable betting market.
But DraftKings and FanDuel rose to prominence — and now, seemingly, have become derailed — in the course of a single N.
The betting economy that has been created is highly unstable and corrupt.
One critic I spoke to was Gabriel Harber, a well-known D.
He has come forward to discuss the rampant exploitation in D.
Then, in 2006, Congress passed the Unlawful Internet Gambling Enforcement Act U.
Several large online poker sites, most notably Party Poker, closed their American operations, and although it was still possible to play online poker, the whole industry had been pushed to the peripheries just click for source legality.
Online poker, everyone reasoned, had it coming.
Curiously, the bill included an exception for fantasy sports.
About a year after the passage of the U.
Instant Fantasy Sports is 100 percent legal in the U.
Credit Maddie McGarvey for The New York Times The D.
Rotogrinders, by far the biggest site for D.
Fargis, too, now works at DraftKings.
Over the next few years, dozens of other gaming entrepreneurs started their own daily fantasy companies.
Many of the contestants were career game young money game who all knew one another from the poker circuit.
The companies failed for all the obvious reasons that companies run by gamblers usually fail.
Then, in March 2009, Nigel Eccles, a wiry, youthful entrepreneur from Northern Ireland and an alumnus of the management consulting firm McKinsey, started FanDuel.
He had never played fantasy sports before.
In Britain, Eccles, who holds an advanced degree in statistics, had started a company called Hubdub that hosted prediction markets on news stories.
If we can convert a couple hundred, even a few thousand players, then we can probably convert millions of money game />But on the whole, Fargis, in his introductory blog post, had it spot on: D.
The only difference is that poker, despite its seedy glamour, is associated with casinos and shady underground games.
Fantasy sports, by contrast, evokes visions of dads sitting in basements with their college friends, yelling out the names of their favorite athletes.
As the horde of D.
DraftKings, which made its debut in 2012, tried to outdo FanDuel, ramping up its prizes.
Site A, and D.
Now you have to find a way to host a jay money gaming contest, or all your customers will flee to Site B to chase that seven-figure jackpot.
So you need to somehow quadruple the number of entries.
The solution is simple: You let each contestant enter hundreds of times.
Each company has instituted caps on the number of entries per player, but more enterprising high rollers have found ways around this.
Now, however, you have an even bigger problem: You need the high roller more than he needs you.
You need his entry fees to gas up your prize pools, and you also need https://casinos-free-money.website/money-games/games-no-money.html roughly 10 percent service fee he pays for the hundreds of thousands of dollars he bets on the site.
In big casinos, high rollers have been known to negotiate rules with the house.
If, for example, a whale from China wants to play a variant of blackjack in which the dealer has to hit on soft 17, the casino, especially if it is struggling, will sometimes adjust to please the whale.
High rollers want to be able to use third-party computer scripts that will allow them to enter thousands of lineups at once, something that your average player cannot do.
High rollers can gain access into D.
They can operate under the cover of plausible deniability — if other players complain that the high roller has been using tools that destroy competitive balance, he might expect the sites to stick up for him.
The difference between the D.
Bumhunters are pariahs because they turn what can be a cerebral, competitive game into its most cynical iteration, and, in the process, discourage that new player from ever coming back.
But poker has built-in safeguards against rampant bumhunting — new players tend to play at lower limits, which make it harder for bumhunters to take in huge profits.
He falls short of that lofty goal because he has to actually bet, raise or fold his hands — jay money gaming can play multiple tables at once, but he cannot fully automate his bumhunting.
In the game lobbies of DraftKings and FanDuel, however, sharks are free to flood the marketplace with thousands of entries every day, luring inexperienced, bad players into games in which they are at a sizable disadvantage.
The imbalanced winnings in D.
The numbers are damning.
A recent McKinsey study showed that in the first half of the 2015 Major Go here Baseball season, 91 percent of the prize money was won by a mere 1.
In their escalating legal battles, DraftKings and FanDuel have used these statistics to bolster their argument that D.
DraftKings and FanDuel have each tried to prove that the act of projecting player performance and selecting a lineup takes more thought and expertise than, say, playing a poker hand.
In paperwork filed on Dec.
The most efficient way to hit that number is to play as many bad opponents as possible.
For the 17 weeks I played D.
But unless I examined win rates and researched the strengths and weaknesses of my opponents, I would never have known that I was being repeatedly bumhunted by high-volume players.
My opponents were gunz4hire, Dinkpiece and Nadia4Fashion.
Gunz4hire was then ranked 47th on the Rotogrinders players ranking and is generally considered one of the better players in the world.
Dinkpiece, who was 20th on that same list, is the alias for Drew Dinkmeyer, a former stock trader whose winnings in D.
On Christmas, the biggest day in the N.
Once again, I was matched up against Dinkpiece and gunz4hire, along with a handful of other professionals.
In three days, I played three of the best D.
In December, I traveled to the FanDuel World Fantasy Football Championships in San Diego.
He said that baseball was not an accurate marker for how the site worked.
The majority of D.
This time, I drew Mtom347, a high-volume player ranked 42 on the Rotogrinders leader board; David Potts, winner of the 2014 FanDuel Daily Fantasy Baseball Championship; and TwoSHAE, one of the 25 top jay money gaming daily fantasy football players in the world.
The next day, I entered an N.
There were 3,638 total entries in the 50-50 that day.
Roughly two-thirds of these came from players who entered multiple lineups.
Here is a small selection of those players and the number of lineups they entered: Maxdalury, generally considered the top player in the world: 100 lineups.
Kobe4MVP, the screen name for Eytan Jankowitz, also one of the best players in the world: 100 lineups.
Notorious, jay money gaming regular contributor to the Rotogrinders site and the No.
Dinkpiece, my nemesis from the last two times: five lineups If we are going to talk about games of skill and the legal protection they deserve, we should acknowledge that much of the skill in D.
Gabe Harber is an energetic, generously bearded basketball enthusiast from Columbus, Ohio.
He started writing fantasy-sports advice columns in 2010, shortly after the creation of FanDuel.
His professional life grew alongside the D.
Harber, like so many other D.
In the small and tightly knit D.
Those sites generally have cost-per-acquisition agreements with DraftKings and FanDuel.
Power players, broadcasters, content providers and DraftKings and FanDuel employees all overlap — and for the last five years, Harber has been close to the center of it all.
Over the course of extensive phone conversations and correspondence this fall and winter, Harber explained that he had begun to turn against DraftKings and FanDuel when the companies were unresponsive to complaints from the D.
Last March, when maxdalury, a player named Saahil Sud, used a script that enabled him to adjust most of his 400 lineups in less than an hour, the community took notice.
Sud was reacting to the breaking news that Channing Frye, usually a reserve forward for the Orlando Magic, would be starting in place of the injured Nikola Vucevic.
Sud won first, third, fourth and seventh place in a big DraftKings competition that night and took home hundreds of thousands of dollars.
The speed with which he made the adjustments caused many within the D.
How could they be reasonably expected to compete if one of the players was using a tool that allowed him to both blanket the field with entries and avoid the work and hassle of manually adjusting his lineups to reflect late-breaking news?
In July, after months of review, instead of banning scripting, or at least forcefully regulating it, as the D.
Harber explained how his frustration with DraftKings and FanDuel reached a breaking point.
The daily fantasy community has had very real concerns about competitive imbalances at FanDuel and DraftKings for quite some time now.
No new player attempting to trade stocks has any shot at success without a sizable amount of training.
As long as they can spend advertising money to bring fresh meat to the table, the power users will eat up the new players extremely fast by using their competitive advantages.
No one is saying that better players should not win money off worse players, but it should not be at this rate and it should not be with misleading advertisements that prey on consumer confidence.
Everyone does not have an equal chance, and everyone is not playing on the same field.
Their rationale is that if the various attorneys general and prosecutors were to become knowledgeable about these competitive issues, they would be much more likely to outright ban daily fantasy.
But those measures only protect players from the worst excesses of bumhunting behavior.
I asked Justine Sacco why FanDuel allowed scripting at click here />She also estimated that FanDuel had approved approximately 30 scripts over all and that some of these were benign, voluntary devices used by sites like Rotogrinders to track the wins of their players.
This confirms the suspicions of many in the D.
He later remembered an email exchange with DraftKings.
DraftKings could not confirm this.
This amounts to gaming chaos — nobody really knows what the next guy might be doing, and everyone who should be making decisions that ensure fairness is afraid to punish power players for their indiscretions.
There is no gambling hole in America, whether Atlantic City or Las Vegas or a riverboat in the Mississippi, that could put out a game like DraftKings or FanDuel without running straight into the state gaming commission.
Most of the benefits praised by its enthusiasts — the ease of play, the camaraderie among fans, the challenge of solving what amounts to a math puzzle — are real.
It does take skill to parse game film, diligently follow the news and interpret the thousands of bits of sports information that are generated each night.
If a problem gambler at the poker rooms I frequent in New York City were to hire a programmer and flood the D.
Knowledge about sports will always jay money gaming the main sorting mechanism for the types of dudes FanDuel reports that 95 percent of its contestants are male who play games like D.
There is, in theory, a version of D.
During my many conversations with Harber, we would often find ourselves talking about my D.
Both of us love the N.
These, I believe, are the sorts of moments the best of the D.
At the start of the N.
Every night, we draft teams, watch the points accumulate and make fun of one another for our picks.
On the first of each month, we pay one another what we owe.
One of these friends creates N.
They help him escape the cynical demands of his job as a corporate lawyer.
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How the Daily Fantasy Sports Industry Turns Fans Into Suckers.. “a shipload of money,” there were DraftKings lounges in N.F.L. stadiums, FanDuel sidelines in N.B.A. arenas and daily fantasy.
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