DraftKings Employee At the Center Of Insider Trading Scandal, Won $350K At Rival Site FanDuel
You’ve seen the commercials. You’re tired of the commercials. Since August 1st, there have been almost 30,000 DraftKings and Fanduel ads on Tv. I know right, that seems real low. Every commercial seems to bring a new promo code to lure new victims..I mean customers. Well it looks like the employees are trying to cash in as well, I mean they do have access to all the info so why not….Unless you get caught.
Riiiiight, “inadvertently”. Sure!
“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.”
DraftKings and FanDuel, both have set up online daily and weekly games in which fans pay an entry fee to a website — anywhere from 25 cents to $1,000 — to play hundreds of opponents with prize pools that can pay $2 million to the winner.
On Monday, DraftKings and FanDuel released a joint statement that said “nothing is more important” than the “integrity of the games we offer,”. Pretty much the usual blow smoke up your butt to shut everyone up so you can forget about this and spend more money.
A spokesman for DraftKings acknowledged that employees of both companies had won big jackpots playing at other daily fantasy sites. Late Monday, the two companies temporarily barred their employees from playing games or taking part in tournaments at any other site; they already had prohibited their employees from playing on their own company sites.