It was bound to happen. This week on October 7th the front page of USA Today Sports included an article by Nancy Armour titled “Daily fantasy sports sites due for major shakeup,” which was about the allegations of what is being compared to as “insider trading” which by the way is what landed Martha Stewart on the ‘hot seat’ some years ago.
Of course, it’s not just the impropriety and misuse of inside information that’s causing a stir in this industry. Armour also supports something I’ve been saying for years. “Let’s cut to the chase. Fantasy sports is gambling, no matter how the industry tries to spin it.” She then goes on to site the legal loophole that makes it legal.
Yes, there’s a legal loophole. Yes, fantasy sports are a form of gambling. Yes it’s absolutely absurd that this is snowballing beyond any sense of control. Fantasy sports are good for sports because they have made each team relevant. Of course, sports betting had done that for years. Yet, there was a dark side or stigma to sports gambling, which for some still exists, only now the odds of getting away with certain things that used to go undetected might not be as easy. Information that used to be secretive and shared in close circles has become information that is shared via social media. Professional handicappers are seen as skilled bettors more so than scammers.
One of the fantasy sports sites that promotes a national radio program I promote, believes that sharing information about which players are drafted publicly will be a remedy to the issues pertaining to employee’s using inside information. He seems to thinks that by giving the public the same information that the employees have, there is a level playing field. I’m curious just what information the fantasy sports site companies have that the public does not have other than which players are drafted. With so much information out there on the Internet, it seems strange to me that employees at fantasy sports site houses had/have information that’s not available to the average person.
I’m still digesting this information, as well as, the legislative issues pertaining to gambling and sports betting. I’m curious to know your thoughts.