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You’ve asked for it and DFS911.com in conjunction with sister site Gambling911.com have heard you loud and clear. Introducing “Daily Fantasy F***ed”, a new series of articles that will focus on the seedy side of the Daily Fantasy Sports world.
“There are a lot of characters out there, the same one’s we have seen penetrating the offshore gambling landscape since the early days,” remarked Gambling911.com intrepid reporter Thomas Somach, who will be covering some of the stories. “Underfunded and clueless,” he adds.
The series will kick off with a bombshell next week: One Daily Fantasy Sports operator is so indebted to the IRS we just don’t see how there is a chance his company can continue to function, let alone pay customers.
“The scary thing is that these are companies mostly licensed in the U.S.,” notes Somach, who has also written for the San Francisco Chronicle, Examiner and the National Enquirer. “We will most certainly see a shift in the conversation towards regulation in the coming year.”
Sites like DraftKings and FanDuel continue to saturate the airwaves as we head into the new football season but they will unwittingly act as a launching pad for other less scrupulous DFS businesses.
“It is hard to compete with the likes of a DraftKings or FanDuel because of the vast number of players on those sites,” Somach points out. “We can start to see situations where smaller sites secure funding and initially use it towards luring in new players with the promise of big cash prizes for nominal entry fees and limited fields. Get these customers to keep sending money as the payouts won’t miss a beat in the beginning.”
Somach alludes to the first incarnation of Full Tilt Poker in which the operators were later discovered to be running an elaborate ponzi scheme. “Daily Fantasy Sports sites can indeed be used as a platform for similar ponzi schemes one would think.”
Watch for the series coming next week at DFS911.com.
- Jagajeet Chiba, Gambling911.com
