Insider Trading... Fantasy Football Edition
A scandal recently broke with two of the largest online Fantasy Sports gambling sites, FanDuel and Draft Kings, for allegations that employees had access to insider information that allowed them to win thousands of dollars in Fantasy Football. Both Draft Kings and FanDuel all work under their own special algorithm where users draft their own Fantasy Football teams and battle each other in different leagues to win money prizes. Certain allegations consisted of employees of Draft Kings were placing bets in rival company, FanDuel, and cashing out approximately $350,000 with insider information that allowed them to place bets on unlikely players. As an avid FanDuel player, I always questioned how certain top players scored ridiculous amounts of points from very unlikely players. It does seem questionable if certain people have insider information, but not sure if it's technically considered illegal (depending on both FanDuel's and Draft King's rules). Curious as to what the outcome of this lawsuit is going to turn out - how will this affect future bets?