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Old May 14, 2014, 8:38pm   #1
TwoGun
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Default Million Dollar Fantasy Sports Tournament

The fantasy sports startup I'm working at - http://www.sportstradex.com is having a major baseball event at the end of the month.

It's a fantasy baseball contest where you make selections of which pre-set fantasy baseball team will win their matchup that day. Here's an example:

Team A:
Derek Jeter
Hunter Pence
Max Scherzer

VS.

Team B:
Jose Abreu
Clayton Kershaw
Mike Trout

In this contest, you make 20 selections. If you make all 20 correct, you win a million dollars.

It's a $108 buy-in with a $10k prize pool (100 max entry). So it's an 8% rake (low by fantasy sports standards) with the million dollar prize being a total bonus opportunity for players.

If you are into baseball and live in the US/Canada, sign up at SportsTradex.com. Email me at michael@sportstradex.com and I can get you a nicer bonus and perhaps a rakeback deal if you want to play high volume.
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Old May 14, 2014, 9:57pm   #2
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is there a reason these places only ever accept customers from us/canada?

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Old May 15, 2014, 7:13pm   #3
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It's mainly because they don't know if it's legal to accept people outside of the US or not.

Fantasy sports sites aren't considered gambling sites in the US/Canada, so they don't have licenses or anything like that. I'm not sure how the UK, Australia, Germany, etc. would view fantasy sports and if they would view it too close to sports betting and thus require a license.

If there's enough demand from a European country to play US fantasy sports (or if the sites expand to EPL), then one of the sites will likely spend the money to research it and just accept players from that country or do the necessary paperwork to be allowed to accept players. Once one does it the others will follow.
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Old May 15, 2014, 11:55pm   #4
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so it is just to stop me playing fantasy hockey then. thought so.

fantasy sports are pretty common in the UK, or were, but they tended to be free entry competitions run by newspapers and the like. still, we like gambling, and we're getting into american sports. i'd be surprised if there wasn't a market, but the cost of entry might be prohibitive.

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Old May 16, 2014, 8:51pm   #5
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Yeah, part of the reason fantasy sports are so popular in the US is because sports betting is generally illegal.

Most of these daily fantasy sites have fantasy hockey, but they're generally smaller contests (like 10-20% the size of NBA/MLB). We actually don't have fantasy hockey at Sportstradex. Maybe next year though.
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Old May 16, 2014, 11:18pm   #6
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sounds about right. even in the uk, the books have already done more business on next year's superbowl than this year's stanley cup.

fantasy sports are more fun than betting though. far less profitable, obviously, but far more entertaining.

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Old May 17, 2014, 6:53pm   #7
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Quote:
Originally Posted by killcrazy View Post

fantasy sports are more fun than betting though. far less profitable, obviously, but far more entertaining.

Kc
Actually, fantasy sports can be a lot more profitable. It's like poker where you're playing against other people instead of the house. There's quite a few players that make $100k+ a year playing daily fantasy sports, whereas there's a very select few that can profitably bet on sports.
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Old May 17, 2014, 9:36pm   #8
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i think you've got a bias in your data there; far fewer americans have the opportunity to bet sports than have the opportunity to play fantasy competitions.

there's truth in it though; if the books are only laying basic bets and are eating a big chunk of overround, then yeah, making money is hard. but, in the uk, you can bet on the colour of the referee's socks, with the books/exchanges often eating less than 5%.

also the betting against the house thing is much fuzzier in sports than in casino games too, obviously, and is often exploitable.

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