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Scandal Erupts in Unregulated World of Fantasy Sports


Scandal Erupts in Unregulated World of Fantasy Sports The New York Times

Source: http://www.nytimes.com/2015/10/06/sports...

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 available to the public.

Last week, a DraftKings employee admitted to inadvertently releasing data before the start of the third week of N.F.L. games, a move akin to insider trading in the stock market. The employee — a midlevel content manager — won $350,000 at rival site FanDuel that same week.

The incident has raised questions about who at daily fantasy companies has access to valuable data, how it is protected and whether the industry can — or wants — to police itself.

Stashed in: Gambling!, economics, Gambling, Fantasy Football, Fantasy Football

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The industry can't police itself. It needs to be regulated. 

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