FanDuels vs. DraftKings(Fantasy Fun or Fantasy Done?):There’s a Scandal/Battle brewing amidst allegations of “Insider Trading”

Posted by Guest Columnist on October 6, 2015 at 12:25 pm under Professional | Comments are off for this article

Courtesy of Enad Haddad, GreensboroSports.com professional football and NFL consultant and published by Joe Drape and Jacqueline Williams with NY Times Mobile….

A major scandal is erupting in the multibillion-dollar industry of fantasy sports, the online and unregulated business in which players assemble their fantasy teams with real athletes. On Monday, the two major fantasy companies were forced to release statements defending their businesses’ integrity after what amounted to allegations of insider trading, that employees were placing bets using information not generally available to the public.

The statements were released after an employee at DraftKings, one of the two major companies, admitted last week to inadvertently releasing data before the start of the third week of N.F.L. games. The employee, a midlevel content manager, won $350,000 at a rival site, FanDuel, that same week.

“It is absolutely akin to insider trading,” said Daniel Wallach, a sports and gambling lawyer at Becker & Poliakoff in Fort Lauderdale, Fla. “It gives that person a distinct edge in a contest.”

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