DraftKings Admits They Want Only Losing Gamblers

[stevenash]

Hell, 5Dimes used to give me horrible lines because I won a few dollars over there. I'd literally be in the same room with a friend and my account was sometimes 1.5 points off.

All books profile.

[juicername]

So gamble responsibly, but don't you dare winning!

[Optional]

That's like a health insurance CEO saying we only want the healthy people to buy insurance and pay premiums. We don't want those suckers who get cancer and have heart attacks.

The real problem is that THE STATE sell their licenses and frame their laws on the basis it is a recreational and the huge fees are paid for the right to skim a guaranteed profit.

This is the inevitable corporate mindset that is driven by greedy states thinking more about profits than a fair system or player protection.


And why SBR needs to get state licensed as an ADR service as soon as possible.

[KiDBaZkiT]

So they admit what offshore won’t? What’s the story here?

[juicername]

So they admit what offshore won’t? What’s the story here?

Isn't US books supposed to be regulated by the government for the better though?

[stevenash]

And why SBR needs to get state licensed as an ADR service as soon as possible.

ADR service meaning a mediator in disputes?

[Optional]

ADR service meaning a mediator in disputes?

Yes. Alternative Dispute Resolution service.

Most mature jurisdictions require their licensees to nominate a third party ADR service they are willing to be bound by the decisions of.


Not happening in USA so far. I'd like to see SBR lobby for it.

[Booya711]

what im saying be a leader, not someone that just follow a group

Cool story bro, we get it, you don't like the direction sbr is going.

If you're shit posting this much why are you spending so much time here?

(ck) is a bitch Hubie….he couldn’t lead shit….

[TheMoneyShot]

They basically want the $5.00 - $10.00 woman parlay player... oh I get it now lol

[TommieGunshot]

A truly disgusting position to take. Most any other business wants their customers to gain value whenever they make a transaction. DK is saying they want their customers to lose value by using their product.

Talking about "entertainment" is complete bullshit and shows exactly why it is such a disgusting and dishonest view for them to take. The entertainment comes from the chance to win. And they say they don't want anyone who maximizes their chances of winning. Which means they are saying they don't want to provide entertainment.

[BeatTheJerk]

A truly disgusting position to take. Most any other business wants their customers to gain value whenever they make a transaction. DK is saying they want their customers to lose value by using their product.

Talking about "entertainment" is complete bullshit and shows exactly why it is such a disgusting and dishonest view for them to take. The entertainment comes from the chance to win. And they say they don't want anyone who maximizes their chances of winning. Which means they are saying they don't want to provide entertainment.

Agreed they just lost me as a customer fukk that rich asshole for real.

[d2bets]

Agreed they just lost me as a customer fukk that rich asshole for real.

Agreed fukk them but why would I respond by leaving? My response is I'll just keep beating them into submission and take their money.

[RockBottom]

Yes. Alternative Dispute Resolution service.

Most mature jurisdictions require their licensees to nominate a third party ADR service they are willing to be bound by the decisions of.


Not happening in USA so far. I'd like to see SBR lobby for it.

Wouldn't the state gaming commission handle these disputes?

[EasyTiger]

I've never understood why a book would say this. This shit isn't rocket science. Build a great platform, offer competitive lines, maintain reasonable max wagers and keep the book balanced.

[Optional]

Wouldn't the state gaming commission handle these disputes?

They don't in UK or Malta. Third party dispute mediation only there. But even in jurisdictions that do handle complaints themselves, "alternative" dispute resolution options can be offered.

[Vene1616]

Shouldn't be allowed. Just like insurance companies letting clients with 30 years of payment history cancel their policy (i.e. lose all their premiums paid without any recourse) with 'a single click'.

It's predatory, immoral and just wrong.

[Vene1616]

They basically want the $5.00 - $10.00 woman parlay player... oh I get it now lol

I'm sure they will also gladly service men, trannies, shemales etc.

Just not people who dare think of winning a dollar from them

[DontTailMe]

I've never understood why a book would say this. This shit isn't rocket science. Build a great platform, offer competitive lines, maintain reasonable max wagers and keep the book balanced.

The analogy to insurance is perfect. These companies aren't supposed to be making a guaranteed profit off of every customer. They're supposed to be playing the numbers. Once you start to fix things so that nobody wins, you start entering "scam" territory.

Shouldn't be allowed. Just like insurance companies letting clients with 30 years of payment history cancel their policy (i.e. lose all their premiums paid without any recourse) with 'a single click'.

It's predatory, immoral and just wrong.

The thing that baffles me is that they can just simply execute this plan and mostly likely get away with it. There's no need to say it out loud. Sheer stupidity.

[MinnesotaFats]

Draftkings loses hundreds of millions

[d2bets]

Draftkings loses hundreds of millions

They do, but it's not from wagering. Their hold isn't great, but they do make money from the wagering. Just that their expenses are insanely high.

[BeatTheJerk]

Draftkings loses hundreds of millions

Yeah right fantasy sports alone rakes in millions quarterly dude, you’re crazy af.

[d2bets]

Yeah right fantasy sports alone rakes in millions quarterly dude, you’re crazy af.

Their earnings reports show a loss every quarter. Of course they have revenue from both fantasy and sports betting, just that their expenses far exceed these revenues currently. Whether and when that will change is the billion dollar question. Amazon lost money for a long time too.

[MinnesotaFats]

They do, but it's not from wagering. Their hold isn't great, but they do make money from the wagering. Just that their expenses are insanely high.

https://www.cnbc.com/2021/12/02/jim-chanos-says-he-initiated-a-short-position-in-draftkings.html

This was literally just posted. Traders sounding the alarm on DK.

Yes they overspent and underestimated their handle

[jjgold]

Draftking rumors flying they are in trouble

[agon]

Yes. Alternative Dispute Resolution service.

Most mature jurisdictions require their licensees to nominate a third party ADR service they are willing to be bound by the decisions of.


Not happening in USA so far. I'd like to see SBR lobby for it.

All ADR service in Malta or UK offer almost 0 protection. Just tell me who pays their wages?
The reason that ADR services can't do much even if they are not corrupted is that online bookies can put any terms they wish and they make you accept them when you join,they also can update their terms.Many of this terms can be updated as many times as bookies want.These small prints practically give full power to online bookmakers that in case they do not want to pay they won't.The only solution would be if the license provider give licenses only to online gambling site which have fair terms at using them.In USA the states which give licenses bend over to the big corporations greed.
For example Brazil gives license only to online bookmakers who meet a certain threshold on odds quality.
Spain courts had on one case verdicted in favor of the players who were limited from bet365 just because they won.
I was just in a tour in Europe and at least in east Europe players mostly play on offlines betting sites based on credit&agent.Its so cheap to buy the betting software there.and once you have it you can resell,rent it or share the cost with others.
Everything is based on trust and enforcement.
Same thing is in Asia as well.
Players in East Europe trust more local shops bookies or offlines rather than online bookmakers.

[BeatTheJerk]

Their earnings reports show a loss every quarter. Of course they have revenue from both fantasy and sports betting, just that their expenses far exceed these revenues currently. Whether and when that will change is the billion dollar question. Amazon lost money for a long time too.

This I didn’t know or could even fathom. Now his message to the public makes much more sense lol.

[d2bets]

This I didn’t know or could even fathom. Now his message to the public makes much more sense lol.

Until at least recently I think they tolerated sharp action because it gave them volume. They like to impress investors with their handle. Well what better way to get big handle than by dealing soft number with huge limits. Their volume might have been a mirage and might dry up with tighter limits. Fanduel seems to do a better job of bookmaking.

[manny24]

Shouldn't be allowed. Just like insurance companies letting clients with 30 years of payment history cancel their policy (i.e. lose all their premiums paid without any recourse) with 'a single click'.

It's predatory, immoral and just wrong.

it was 15 years without ever filing a claim but this very thing happened to me when i built my original website

"we audited your account and don't think we can find a new policy for you this year.

you should look elsewhere to renew your liability binder once it expires."

told the owner of the company to never set foot in my town again or i will run him through the wood chipper

haven't seen him around

[stevenash]

Draftking rumors flying they are in trouble

77 percent of their revenue is spent on marketing.

Half a billion dollars.
That's insane.

[Vene1616]

Draftkings loses hundreds of millions

So do Uber, Glovo etc. Their plan is to 'take over the world', you shouldn't feel sorry for sons of bitch*$

[Vene1616]

Draftking rumors flying they are in trouble

You're in bed with DK, but there's no erection?

[roanildinho]

Bang the book if they boot you out, bang the next book. Fuuk worrying.

[Bluehorseshoe]

Has anyone here been limited by Draftkings??

[Bostongambler]

Has anyone here been limited by Draftkings??

No one on this site.

[d2bets]

Has anyone here been limited by Draftkings??

It's all relative. Everyone is limited. It's hard to know if you're targeted without knowing what everyone else can bet. But yeah, I can bet 80% less now than 2 weeks ago.