The latest controversy for the boring people in the Uptight States of America concerns the daily fantasy sports industry. This industry has absolutely been booming, with lots of ads showing up on TV and reports about ordinary folks striking it rich and winning $1 million on these sites.
But the big furore is over news that an employee at DraftKings went over and won money on arch rivals FanDuel. This guy basically used his insider knowledge from DraftKings to make money on a rival site!! Not good, especially for the ordinary people playing.
This is exactly the kind of thing that goes on when you have an unregulated environment!! This article over at Awful Announcing sees parallels to the online poker boom of last decade. When online poker was going in the USA you had sites like Absolute Poker/Ultimate Bet that had these huge cheating scandals, which ended up being a big reason why the prosecutors cracked down on online poker and shut down these sites in the USA.
The problem, though, is that the Feds went too far and shut all of online poker down, instead of offering to set up a regulated environment with proper rules and regulations. Regulation is happening way too slowly for online poker, and you still can’t play in most of the states.
This just strikes me as typically American. Instead of “regulate,” and “clean it up,” the attitude is always “shut ‘er down” and “throw people in jail.” The idea of “letting the players play” seems completely foreign to these people — they don’t seem to want to give the players what they want, whether it is Daily Fantasy Sports, online poker, or other things that are fun which you could make money at.
My real surprise in all this is how long they have left the DFS industry alone. I would have thought these prosecutors and lawmakers would have moved in on these companies and cracked down a long time ago. Really, these people are busybodies, this is what they like to do.
But you know, if these sites are going to act irresponsibly, this is exactly what’s going to happen to them. These folks need to get their act together, pronto.
Mark my words — DFS is going to go the way of online poker in the USA. I don’t like it, and a lot of sports fans won’t, but that’s life in the ‘States for you.