Who could have imagined something like this happening?!?! Shocked, SHOCKED I tell you!
http://thinkprogress.org/sports/2015/10/05/3709392/major-scandal-rocks-fanduel-and-draftkings/
FanDuel and DraftKings, the biggest players in the unregulated, multi-billion dollar daily fantasy sports industry, are facing a major scandal. DraftKings has acknowledged that confidential data was leaked by an employee. The same employee was able to win $350,000 that week at rival FanDuel.
The information at issue “showed the prevalence of particular players across all submitted lineups” for DraftKings’ biggest game, Millionaire Maker. This information is not available to the public and provides “a massive edge over players lacking such data.”
The reason why the information is so valuable is that “ecause of the massive number of entries in the biggest contests at DraftKings and FanDuel — hundreds of thousands — it’s usually difficult to win a contest with a lot of players that are commonly owned.” Knowing who other players picked allows you to pick less popular players with high upside, giving you the greatest chance of success.
In a joint statement, DraftKings and FanDuel obliquely acknowledged the controversy but denied any “misuse” of insider data. They promised only to “review our internal controls.”
http://thinkprogress.org/sports/2015/10/05/3709392/major-scandal-rocks-fanduel-and-draftkings/
FanDuel and DraftKings, the biggest players in the unregulated, multi-billion dollar daily fantasy sports industry, are facing a major scandal. DraftKings has acknowledged that confidential data was leaked by an employee. The same employee was able to win $350,000 that week at rival FanDuel.
The information at issue “showed the prevalence of particular players across all submitted lineups” for DraftKings’ biggest game, Millionaire Maker. This information is not available to the public and provides “a massive edge over players lacking such data.”
The reason why the information is so valuable is that “ecause of the massive number of entries in the biggest contests at DraftKings and FanDuel — hundreds of thousands — it’s usually difficult to win a contest with a lot of players that are commonly owned.” Knowing who other players picked allows you to pick less popular players with high upside, giving you the greatest chance of success.
In a joint statement, DraftKings and FanDuel obliquely acknowledged the controversy but denied any “misuse” of insider data. They promised only to “review our internal controls.”
