Re: Racing Don't Need This! (599 Views)
Posted by:
BitPlayer (IP Logged)
Date: September 10, 2015 11:28PM
Whales will go where the money is. Interesting observation from The Wall Street Journal yesterday (behind pay wall):
Still, as the industry grows, daily fantasy companies face another risk: the possibility that increasingly sophisticated players using complicated statistical formulas will wipe out novices, say industry watchers like Ed Miller, a Massachusetts Institute of Technology-trained engineer and games strategist, and Daniel Singer, leader of McKinsey & Co.’s global sports and gaming practice.
In the first half of the 2015 Major League Baseball season, just 1.3% of daily fantasy-sports players won 91% of the profits, according to Mr. Singer.
“It’s not what it pretends to be,” Mr. Miller said in an interview. “It pretends to be, ‘Hey pick your favorite players, spend a few bucks and root for them.’ But if you pick your favorite players you will lose a lot of money.”
http://www.wsj.com/articles/daily-fantasy-sports-operators-await-reality-check-1441835630