Condia and 1Ucror Team Up With FanThrowDown

rg misc mgt logo 11

The initial details are just trickling out now, but it looks like Condia and 1Ucror will be working with FanThrowdown in the near future. This is intriguing news for all the “Condia followers” out there, and will be interesting to hear more information comes in. We’re talking with FanThrowdown currently and working on an interview with Brit or Condia in the coming days. In the meantime, here’s the press release:

MGT Subsidiary Inks Top Fantasy Sports Gamers

Leading Fantasy Sports Players to Market FanThrowdown Website; Enhance Player Experience

HARRISON, N.Y., March 5, 2014 /PRNewswire/MGT Capital Investments, Inc. (NYSE MKT: MGT) announced today that its majority owned subsidiary FanTD LLC has entered into an incentive-based consulting and marketing agreement with an entity formed by Nicholas Dunham and Charles Chon, each of whom are leading daily fantasy sports players. The exclusive relationship will entail input on site design and functionality in order to enhance the player experience, and promotion of the site through a variety of channels, including audio and video media and high visibility events. Mr. Chon operates under the screen name Condia; he is widely regarded as the most skilled competitor in daily fantasy sports, and placed second in FanTD’s $500,000 Football championship in December 2013. Mr. Dunham uses the screen name 1ucror and has participated in hundreds of thousands of daily fantasy sports contests.

Robert Traversa, MGT’s Chief Financial Officer, stated: “We are excited to join forces with the most talented names in the business, and look forward to offering an even better daily fantasy sports playing experience as we expand our site in 2014.” Mr. Dunham added: “After a thorough review of the daily fantasy sports industry, Charles and I decided that MGT is in the perfect position to become a market leader and provides us with a great opportunity. We intend to make MGT’s branded sites the premier destination for daily and weekly fantasy games.”

About MGT Capital Investments, Inc.

MGT and its subsidiaries are engaged in the business of acquiring, developing and monetizing assets in the online and mobile gaming space, as well as the casino industry.
Subsidiary MGT Studios is publisher of social games and real money games of skill, and will launch www.MGTplay.com and SlotChamp™ in early 2014.

MGT Gaming, a majority owned subsidiary, owns U.S. Patents Nos. 7,892,088 and 8,500,554 relating to certain casino slot machine systems and has filed a patent infringement lawsuit against WMS Gaming (a subsidiary of Scientific Games Corporation), and others. The Company also owns a majority interest in FanTD LLC, the operator of FanThrowdown.com, one of the leading online daily fantasy sports wagering websites. Another majority owned subsidiary, MGT Interactive, owns REAL DEAL POKER™, an innovative online poker technology with a patented card shuffling system, allowing for regulatory transparency and auditability, and a higher level of realism.

About the Author

  • Cameron (Cameron)

  • Cameron MacMillan is the Co-Founder of RotoGrinders.com, and a die-hard Florida Gators fan.

Comments

  • TheTonyM

    RG NHL Daily Plays

    Very interesting.

  • hammer74

    the rich get richer! good for him

  • Cableguy1973

    Hes a natural and its a natural fit.

  • chinchilla

    All I hear is accolades. That is awesome. However, can someone answer why their lineups are 90% same everyday with only two exceptions. I for one an very curious to see what comes out of the woodwork when this so called “Interview” does happen.

  • horby

    @chinchilla.

    He addressed this in the forums a couple of months ago.

    “1ucror and I are friends. Nothing in the rules against sharing information. Don’t know what the big deal is about that…”

    /threads/1ucror_and_I_are_friends_N-217429#reply-217604

  • jecarl2

    I guess this is a good marketing strategy, take them out of play on one of the sites. On the surface it looks like a desperate attempt to recover from the sht storm over the summer.

  • Calebdub

    How jackleged is this industry lol

  • troveur

    well now all the whiners and haters know where to go if they want to completely avoid condia

  • 2incher

    Just no.

  • dogg47

    It makes me chuckle when so much is made of every rumor,factoid and jibberish that is brought up about condia. If more players would spend the time they waste jibbering about the gary kasparov of the fantasy games world they would be better served imo..with regard to their own fantasy results.

  • Skycap

    This is an article about Condia. Should people be commenting on their own fantasy results?

  • Fr33dom35

    My question is: If “ CrazyGabey had been hinting that the little birdies in his beard were telling him there was big news coming. “ How can CrazyGabey honestly say there is no conflict of interest when playing on FTD? No, i do not think CrazyGabey is cheating or colluding. But this shows exactly what everyone knows. That is not appropriate, that it is possible for him to get inside info, and at the very least creates a cloud of ambiguity around the issue. CrazyGabey, love you man. But that is bad business, and is just not right.

    Far as FTD, let us not be blinded by this desperate move to save the company. Lets not forget the mid-year TOS changing scandal, the tax reporting nightmare/scandal, the convicted pedophile founder, or the patent trolling reputation of MGT Gaming. It is not morally right to promote this company. RG i hope your article is strictly out of journalism, and not like when “unbiased” news stations promote their own shows during the news. Pete (csuram88) let it slip on air the other night (couple weeks back) that he, condia, and others in the dfs industry were having a business lunch that day. Is there any cause for concern here? RG, Gabey, you better distance yourself from that sinking ship as much as possible, or you will go down with it.

  • Kcannon

    • 430

      RG Overall Ranking

    • 2015 DraftKings FCFWC Finalist

    • x2

      2016 DraftKings FHWC Finalist

    Can I comment on my results since they are crediting Condia with my finish in the football championship?

    Kudos to Condia for changing his name to Kcannon on FTD for that result!!!

    #lolpressrelease

  • DonTJ

    Here is my objective point of view and observations as to how I view it. I don’t think anyone disputes that these are very good players, if you have money, the object is to make more money. However, it does raise some interesting issues:

    Daily Fantasy is somewhat like the stock market. Actually, in some ways it is better than the stock market. In the actual stock market, information about company performance is not instantaneous. Quarterly and annual financial statements are issued instead of daily reports. Due to this information asymmetry, people speculate on stocks in the interim. If you guess as to performance and you are correct, you make money, guess wrong, you lose money. Sophisticated investors use complicated models, often based on computer algorithms, etc…when analyzing the stock market. Then there are also those who are naturally gifted and just have a 6th sense as to what to do.

    The beauty of Daily Fantasy is that you have up to date information. Also, no one can lie about the statistics. Company financials can be manipulated under the rules of accounting to smooth income and sometimes auditors either don’t catch fraud or are complicit. Basically, you never know the veracity of the financials. If the system worked perfectly, you would get honest information. However, that is not the case, so investors are faced with a level of risk associated with that.in sports, the numbers are absolutely accurate. Lebron James plays in front of thousands in the arenas and millions on TV. No one can make up his or anyone else’s’ performance. As with the stock market, there is an element of risk. Take this week for example, Lebron had a monster game and then a dud right after.

    Fantasy players are kind of like people who invest in the stock market. You put together the best team based on past performance which gives you a basis for predicted performance. I think there are some who probably live,sleep, and breathe certain sports and win on their superior knowledge. Of course superior knowledge doesn’t guarantee victory if you don’t have good intuition, but if you have the analytical ability, you don’t need a complicated model to win.

    Some daily fantasy players use statistics based on models they build. I usually win on statistical analysis without ever even watching a single game or even knowing the standings. I don’t have superior knowledge of any one sport, but just like people in the stock market I have used computer-based statistical models. I have won on intuition as well, but not as often.

    Dunham and Chon are not idiots. If they developed models or have gifted analytical ability good for them. There is nothing wrong with building a better mousetrap. America is about capitalism and these guys are only doing what good business people do: Maximize their return on investment.

    Head to Head any one of us could beat them on a given night. Also, given that top players make hundreds of millions of dollars and want to an, I really don’t see how results could be manipulated.

    I don’t pay attention to these guys lineups. So I can’t comment on them directly. Sites only report winnings, not losses, but these guys wouldn’t keep playing if they lost more than they made overall.
    I think it is safe to say that. Also, let’s throw cheating out the door. There is a lot of uncertainty and you get paid based on the lineup you chose. Once picked and the game starts it can’t be changed, I might pick Durant and suppose just as he starts to play, he comes down with the flu and is scratched at the last second. I have just wasted a position on him, but stuff like that happens all the time.

    Just like the stock market, there is a lot of uncertainty and a lot of variables. My argument is that while it is not a conventional investment, many of the same principles apply. Even compare this parallel: most people don’t have the sophistication to understand the implications of company financials, so you have stock analysts who do. Nothing wrong with that. Fantasy players have sites like Rotogrinders. There is nothing wrong about this site and the entire business concept behind it is quite logical. I am not an expert like the people on Rotogrinders. They see things I don’t and let’s face it, if we didn’t get good advice from Rotogrinders, none of us would use it.

    Now, if Dunham and Chon originally started off with $50 each and have worked their way up to betting and making the kind of money they do, that would be a great story.

    Who knows how much each started off with, but I believe from a business perspective each had a large bankroll to start off with…between $100,000 to $1,000,000 perhaps. Once again, these guys aren’t stupid and the are smart business people. I think they are pioneers to some extent because they were the first to realize that Daily Fantasy is an excellent way to maximize return on investment. At a time when an investor is lucky to make 6% on a conventual investment my guess is that these 2 men are making well above a 6% rate of return. They are only using business logic and sense.

    Business is about finding the best opportunities and exploiting them. Every industry has people who figure out ways to exploit a system until legislation is enacted or rules are changed. Also, I am not using the word exploit in a negative sense here. Exploiting a business opportunity/situation is legal and anyone who figures out how to do it….good for them. It is what capitalism is all about.

    So, I want to make it clear, I am not accusing Dunham and Chon of anything wrong. There is no proof of it. If nothing else, I see them as smart business people.

    Here are some issues though, without accusing anyone of wrongdoing hat this situation does raise:

    1) To my knowledge it is legal for two players to work together. I see nothing wrong with that ethically if it is only sharing information. However, if you played in leagues together, it could raise ethical issues. Suppose these 2 played in a 3 person $1 league on FanDuel. All they have to do is beat 1 person. Each pays $2 for entry, but the winner gets $2.70. It may not sound like much, but the .70 represents an instant 35% return on investment with only marginal risk. If they play a 5 person $1 league, they only have to beat 3 people. If they do, they male am instant 135% return on investment. For the record, I have never paid attention to whether these guys in fact do that, I am just using FanDuel, other sites are different. Nevertheless, on FanDuel there is nothing to prevent me and a buddy from doing what I just described, it may not violate the rules, but I am not sure it is ethical. I am using small money examples, these guys don’t play for small change.

    2) Just as it would appear in the stock market, the interaction between FanThrowdown and two daily players raises some very interesting issues. Under the law, this would not constitute fraud, but ethically, it raises a potentially serious issue on the surface. I don’t want to bad-mouth the parties here. I don’t believe any one has done anything illegal and I don’t want to make anything sound like sour grapes. So I will use an example, and it is in fact an idea that has crossed my mind, so I am not trying to come across as self righteous.

    Suppose I have $2,000,000 or my friend has $2,000,000. In the stock market, there are ways to even out risk, especially I am playing with a large bankroll, I believe it can be done, but in fantasy sports, simply by picking just a few viable lineups using a model or expertise. One or two is bound to be a good lineup…hopefully. If you play high dollar contests at high volume, then you may need only one or two lineups to win in order to turn a profit. Of course you wouldn’t bet all of it at once, so even if you just get $5000 and lost every match, you can throw another $5000 at it the next night. Eventually, you will likely have a night where you have awesome lineups and if so, you win a ton of money. I haven’t done all the math, but take the 5 person league above. If I lost on day one, I lose $2. If I make the same bet the next day, I put an additional $2. That would mean a sum of $4 total between the two days. If I win on day 2, I still turn a profit as I make $4.50 in a $4.00 investment. Now, take it a little further: on FanDuel, if you play in a $2,10 person league, the winner gets $9, 2nd gets $5.40, and 3rd gets $3.60. Keep in mind if 2 players are only interested in one winning (assuming they have an agreement to share winnings equally..which I don’t believe is illegal), the could lose 3 times ($6 total), but if on the 4th day, if one finishes first, it would mean an extra $2 investment, but it would nevertheless still end in a profit as the winner gets $9. It would only be a $1 dollar return, off an $8 investment, but still it’s a profit of 12.5%. As money gets bigger, the more risks two people could handle and still come out ahead. Also, I am ignoring the 2nd and 3rd win money under this scenario as well. So, assuming all players are equal, you go from a 1 in 7 chance of placing in the money to a 2 in 7 chance of placing in the money…I think I said that right..someone correct me if I am wrong. In the unlikely event neither gets in the money on the first 3 days, but one finishes first and the other finishes second on day 4, they still made an $8 investment, but since second place pays, their total winnings would be $14.40, or a 180% return on investment…and that is assuming 3 days of finishing outside the money. Note: I am only listing the immediate percent return, I am not using the return rate in yearly terms. Also if two people are equal partners, you would obviously divide the return rate by two.

    Assuming this is legal, which I believe it is (and I am not criticizing or singling out Dunham and Chon, because I see this often in 3 player leagues involving other players) it’s a brilliant strategy!

    If FanThrowdown is losing money, it makes complete sense to enlist Dunham and Chon. However is it ethical? Shouldn’t all fantasy sites refrain from any interaction with players, especially 2 famous players? I think it crosses a line of impartiality.

    3) There are a lot of fantasy sports sites, but some have gone out of business and others are thriving. We are entering unchartered waters in terms of a new industry…one involving millions and millions of dollars and one growing very fast. I used FanDuel as the example above, but not to criticize them. I like their format best. Since you have no ‘wildcard’ spot on your roster, it cuts down on statistical probabilities. However, I like a few other sites as well. If I were to start a new fantasy sport site, I have to make sure my rake covers my other costs and that is driven by player volume. If I don’t cover my costs based on rake,then would it not make sense to enlist the best players, fund them, and subsidize my earnings with their winnings? They win because they get a cut and I win because it buys me time to establish my reputation and attract new customers. Also, it wouldn’t hurt to learn from these players while I am at it. I have seen sites that appear to have few customers. The scenario I mentioned is plausible. It also to my knowledge is not illegal. The pressure to turn a profit in business has always led to questionable ethics. Is it appropriate for a site to partner with players in this industry? That is the real question. I don’t know.

    4) What about conflict of interest issues? Is there anything that say that Dunham and Chon can’t play on FanThrowdown? They come up with good lineups, but they have no power to make perfect lineups. From a competition standpoint, they technically would not have more of an advantage than they do now…..unless the model they have built is better at predicting certain statistical results better than others…if they changed the scoring on that site to take advantage of that, then would it be ethical for them to continue play on that site? Would it be ethical for them to play on other sites?

    5) I think Dunham and Chon are brilliant businessmen and pioneers in a new industry. If they developed some sort of complex, yet accurate model of how to pick great lineups and have the financial resources, then from their standpoint, why not acquire their own fantasy site? Makes sense to me.

    6) If FanThrowdown contacted Dunham and Chon, is that ethical from the standpoint of interfering with the customers of other sites?

    I just thought I would throw out a few ideas. I am not accusing anyone of doing anything illegal. I am not privy to all the details and I am not complaining about the success of these 2 players. Business is business, so good for them. Truthfully, I think these guys realized they had the resources and given so, the next logical step in their business model would be to own their own fantasy site or be affiliated with one in a capacity other than players. I see no grand conspiracy. It is the byproduct of two smart guys with large bankrolls making business decisions to maximize their returns.

    I just think it raises some issues that the entire industry will have to address at some point. Anything that can reasonably cast doubt on the legitimacy of the industry needs to be examined. The stock market is still far from perfect, but there a ton of regulations governing it now as opposed to the 1920’s. I see a lot of analogies between daily fantasy and the stock market. I hope the industry as a whole will act to establish regulations that address any possible appearances of foul play.

  • rototrain

    I can’t believe I just read all of that!

  • DevonD9

    Yeah, I won’t be! lol

  • madmanjayWV

    I STILL MISS BUZZDRAFT

    SO are they going to be playing on FTD?

    What is this ENTITY of Chon/Dunham known as called?

  • Edble1977

    i dont see the big deal with buddies sharing info and using it to their advantage. me and my buddies do the same thing, granted not at such a high volume as these 2, only difference is that our lu’s and rarely the same…

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