FanDuel and DraftKings are companies that currently
- provide certain users with critical competitive advantages
- advertised, promoted and legally justified as a game of skill.
- employ misleading advertisements to hoodwink the average consumer.
- make a host of misrepresentations to the press to protect their business.
This egregious commercial behavior would be immediately shutdown if it occurred in Vegas. I’m not really sure how anyone can defend those practices with a straight face. Admonitions such as “well, don’t play then,” while true, are really besides the point.
What’s more – the reality is that it is not a game of skill, or a even gamble. It’s a foregone conclusion: a rip-off in which suckers pit themselves against complex and fast working computer algorithms. You *cannot* win with skill, and 90% of the time, you won’t win by luck or accident either.
If the FanDuel and DraftKings advertised that reality, there’d be no outrage. People who want to be suckers would be free to do so.
That’s one argument.
But capitalism says that individuals have the opportunity to succeed as well as the opportunity to fail. No one has pointed a gun to anyone’s head to spend money on anything, Also, it is universal knowledge that you don’t gamble with money you cannot afford to lose.
The Daily Fantasy Sports Industry has made and continues to make tons of money. The reason is that it’s a casino and as the old adage goes – the house always wins, or at least more often than not. This is also universal knowledge.
Another outgrowth of capitalism as it’s practiced in the good ole’ USA is “Let the buyer beware”. As P.T. Barnum famously stated that there’s a sucker born every minute. So, all those who allowed themselves to by sucked in by the Fantasy Sports barrage of commercials and subsequently gambling with money they can’t afford to lose have no one to blame but themselves.
It’s simply laughable and sad that we have to turn towards the government to save people from themselves.