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  • NSNunn

    If there is anyone that is playing FD’s 3 dollar contest that reward’s bitcoins in place of cash prizes:

    With the rake approaching 50%, why wouldn’t you play a normally raked tournament and just take your winnings and invest in bitcoin yourself? What is the allure of it? I honestly don’t understand.

  • aboynamedsuh

    • 961

      RG Overall Ranking

    Yeah, I backed my entries out once I saw the total entries. There’s 40k people in it and climbing, and the value of the total prizes is $45k. At a $3 entry, wtf Chalk up a victory for FD marketing and poor math.

  • yisman

    https://rotogrinders.com/threads/best-rake-tourney-ever-2297369

    fanduel was capitalizing on the magic word bitcoin to implement some massive rake.

    How many entries did the freeroll get, by the way?

  • mattcoxy

    Freeroll at 207867

  • WidumBoise

    It is the biggest #RAKEGRAB in the history of modern America.

    Shame on FD for FLEECING their customers and taking advantage of the cryptocurrency hype.

    This is the type of stuff that takes companies OUT OF BUSINESS.

  • joeycis

    • Blogger of the Month

    @WidumBoise said...

    It is the biggest #RAKEGRAB in the history of modern America.

    Shame on FD for FLEECING their customers and taking advantage of the cryptocurrency hype.

    This is the type of stuff that takes companies OUT OF BUSINESS.

    Nobody has ever purchased a scratch off ticket? A lotto ticket?

  • bigez952

    This tournament just goes to show how the average player doesn’t care about rake.

  • joeycis

    • Blogger of the Month

    @bigez952 said...

    This tournament just goes to show how the average player doesn’t care about rake.

    You couldn’t have said it better. If you are doing this for a living than obviously dropping 150 entries into this is ridiculous. But if you play recreationally and can win the value of a Bitcoin for $3.

    I have come first circle. Initially, I thought it was egregiously bad. But after thinking about it. Wouldn’t you like to operate a business where you can rake in this kind of money because of a current craze?

    I would…

  • madmanjayWV

    @WidumBoise said...

    It is the biggest #RAKEGRAB in the history of modern America.

    Shame on FD for FLEECING their customers and taking advantage of the cryptocurrency hype.

    This is the type of stuff that takes companies OUT OF BUSINESS.

    How is Fanduel fleecing anyone?
    They aren’t forcing people to play in it.

  • bigez952

    @madmanjayWV said...

    How is Fanduel fleecing anyone?
    They aren’t forcing people to play in it.

    On Facebook they had posts saying “make sure you don’t miss out on this value” with a link to the contest. Sure they are not forcing anyone to play but they definitely were all in on the misleading advertising taking advantage of all the average users that don’t care or even know what rake is. This tournament and value should never go hand in hand.

    This is how FanDuel decided to advertise this tournament from their Facebook page.

    FanDuel
    8 hrs ·
    You can’t beat this VALUE!

    Sign up before it’s too late ->>> https://www.fanduel.com/bitcoin-bowl?t=lobby

    #BitcoinBowl …
    See More

  • WidumBoise

    @bigez952 said...

    On Facebook they had posts saying “make sure you don’t miss out on this value” with a link to the contest. Sure they are not forcing anyone to play but they definitely were all in on the misleading advertising taking advantage of all the average users that don’t care or even know what rake is. This tournament and value should never go hand in hand.

    This is how FanDuel decided to advertise this tournament from their Facebook page.

    FanDuel
    8 hrs ·
    You can’t beat this VALUE!

    Sign up before it’s too late ->>> https://www.fanduel.com/bitcoin-bowl?t=lobby

    #BitcoinBowl …
    See More

    Disgusting and predatory.

  • joeycis

    • Blogger of the Month

    @WidumBoise said...

    Disgusting and predatory.

    Again, nobody has purchased a lottery ticket?

  • bigez952

    @joeycis said...

    Again, nobody has purchased a lottery ticket?

    Everyone knows the lottery is a terrible investment and they are upfront how crazy the odds are but people play anyway. I don’t think I have ever heard the lottery called a “value”

    I have no issue with FanDuel offering this tournament but the misleading ad campaign calling it a “value” tournament when it really is a low value lottery kind of rubs me the wrong way.

    Not everyone cares about rake and would want to play the lottery regardless of how terrible it is as long as they have fun so there is no need to try and deceive people in saying Nobody can beat this value.

  • NSNunn

    @joeycis said...

    Again, nobody has purchased a lottery ticket?

    Is that what you want DFS to become? A lottery? Your comparison is spot on. Fanduel is praying on the uninformed (don’t understand rake). Similarly to how lotteries pray on the poor.

    If Fanduel decides to run this tournament again, I will self exclude myself from their site forever. I’m hoping this was a one time thing. But, as we saw with DK and their exclusion of SNF on their main slate, anything that helps these sites bottom lines are here to stay. If so, I will no longer be a customer and I hope others will follow. The rake is unbeatable for the average player at 16%, let alone 20, 30, or 50%.

  • joeycis

    • Blogger of the Month

    @bigez952 said...

    Not everyone cares about rake and would want to play the lottery regardless of how terrible it is as long as they have fun so there is no need to try and deceive people in saying Nobody can beat this value.

    So…. people who play the lottery have fun because they get to pay for a ticket and they are aware that the chances of them winning anything are microscopic. They are also aware that the lottery generates a great deal of money for the state because people continue to play it even when they have little chance of success.

    I don’t know where you live, but where I live, any convenience store that I walk into has big signs with current jackpots, advertisements about playing the lottery, etc… They don’t use the word “value,” but they still use advertising to pump up the proceeds.

    So Fanduel is held to a different moral standard because they advertised their tournament? Fanduel is responsible for the thousands of people that entered $3 to take a chance at winning 1 of 4 prizes?

    Give me a break already.

  • NSNunn

    joeycis, we understand how lotteries work.

  • joeycis

    • Blogger of the Month

    @NSNunn said...

    joeycis, we understand how lotteries work.

    I am not sure you do.

  • bigez952

    @joeycis said...

    So…. people who play the lottery have fun because they get to pay for a ticket and they are aware that the chances of them winning anything are microscopic. They are also aware that the lottery generates a great deal of money for the state because people continue to play it even when they have little chance of success.

    I don’t know where you live, but where I live, any convenience store that I walk into has big signs with current jackpots, advertisements about playing the lottery, etc… They don’t use the word “value,” but they still use advertising to pump up the proceeds.

    So Fanduel is held to a different moral standard because they advertised their tournament? Fanduel is responsible for the thousands of people that entered $3 to take a chance at winning 1 of 4 prizes?

    Give me a break already.

    Like I said I have no issue with the tournament just the blatant false advertising call this tournament a value nobody can beat when it really isn’t. I have zero issue with Fanduel advertising their tournament if they stayed away from false claims.

  • JDub07

    @joeycis said...

    So…. people who play the lottery have fun because they get to pay for a ticket and they are aware that the chances of them winning anything are microscopic. They are also aware that the lottery generates a great deal of money for the state because people continue to play it even when they have little chance of success.

    I don’t know where you live, but where I live, any convenience store that I walk into has big signs with current jackpots, advertisements about playing the lottery, etc… They don’t use the word “value,” but they still use advertising to pump up the proceeds.

    So Fanduel is held to a different moral standard because they advertised their tournament? Fanduel is responsible for the thousands of people that entered $3 to take a chance at winning 1 of 4 prizes?

    Give me a break already.

    The Lottery is a tax on the poor. Period.

  • pool7410

    @joeycis said...

    So…. people who play the lottery have fun because they get to pay for a ticket and they are aware that the chances of them winning anything are microscopic. They are also aware that the lottery generates a great deal of money for the state because people continue to play it even when they have little chance of success.

    I don’t know where you live, but where I live, any convenience store that I walk into has big signs with current jackpots, advertisements about playing the lottery, etc… They don’t use the word “value,” but they still use advertising to pump up the proceeds.

    First of all, why are you comparing a Fanduel tournament to the lottery? I thought daily fantasy was a game of skill? At least that’s what the law says.
    Second, do you realize you’re trying to justify Fanduel’s misleading advertising by comparing this Fanduel tournament to the LOTTERY.
    Yes, one of the absolute worst gambles you can make is about equal to the value of this Bitcoin Fanduel tournament. I would totally agree with you on that.

  • sochoice

    • 2017 DraftKings FBWC Finalist

    • 2017 FanDuel WFFC Champion

    I agree that the Bitcoin Bowl is not a good deal for the players in the tourney. but that’s their choice. So, for all the people who are ripping FanDuel here, what is your idea of a good FD tournament? Or for that matter, even a DK tournament that you think is a good deal and enjoy playing.

  • tomac

    @sochoice said...

    I agree that the Bitcoin Bowl is not a good deal for the players in the tourney. but that’s their choice. So, for all the people who are ripping FanDuel here, what is your idea of a good FD tournament? Or for that matter, even a DK tournament that you think is a good deal and enjoy playing.

    One with an entry cap.

    What is your idea of a good tournament?

  • sochoice

    • 2017 DraftKings FBWC Finalist

    • 2017 FanDuel WFFC Champion

    @tomac said...

    One with an entry cap.

    What is your idea of a good tournament?

    Single entry contests for sure. Smaller payouts, but better chance of cashing.

  • 2Slik

    • Ranked #21

      RG Tiered Ranking

    Who’s to say every contest isn’t a lottery? I’d at least play a better odds / payout

    This is a just a clever marketing scheme. I don’t mind if they run this every week as long as they lower the rake to 12% on other contests…

  • madmanjayWV

    I still don’t get the “VALUE” being a BOGUS false advertising thing?

    Where else on planet earth can someone risk $3 to get a BITCOIN? Is that not VALUE (real or perceived) – granted it’s a $3 automatic fire burn, pretty much…..

    I mean maybe there is some online raffles where tons of peeps risk $5-10 a pop b/c someone is raffling off a BITCOIN…..I don’t think so but I have no clue — I didn’t play in the GPP anyway

  • bigez952

    @madmanjayWV said...

    I still don’t get the “VALUE” being a BOGUS false advertising thing?

    Where else on planet earth can someone risk $3 to get a BITCOIN? Is that not VALUE (real or perceived) – granted it’s a $3 automatic fire burn, pretty much…..

    I mean maybe there is some online raffles where tons of peeps risk $5-10 a pop b/c someone is raffling off a BITCOIN…..I don’t think so but I have no clue — I didn’t play in the GPP anyway

    “Nobody can find a better value” was the exact advertisement. So a 1 in 210,000 chance at a bitcoin in the free roll does have a value of about $0.07 and I am sure I can find a better value somewhere else. For the $3 contest you can play a $50,000 prize pool GPP with 1/4 the players and buy your own bitcoin with your winnings so hard to say that the Bitcoin bowl is a better value.

    So there is value but it is false advertising in that everyone can quickly find a better value for their $3.

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