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  • tipster808

    I’m “that guy.” I’m concerned about DFS golf.

    I’m someone who has always been fascinated with the legal aspect of daily fantasy (UIGEA). Since I love playing it, I’ve read up more and more on the legal grounds for it. While there are definitely some gray areas, for the most part it looks like DFS is here to stay – which is great. But I can’t help but worry that DFS golf may change that some day, or at least cause some serious problems.

    While some of the language with UIGEA is gray, one part of it is not. UIGEA stipulates that the outcome of a fantasy game must be dependent on multiple sports events. That’s events with an “s”.

    I think it’s clear to all why DFS sites don’t do NASCAR. For the reason above. The Daytona 500 is one event. But you know what? The Masters is one event. So is the US Open. Or any other golf tournament. There’s no way around that and we all know it. But now multiple DFS sites are doing golf. Why?

    The only rational reason is that legally they consider a round in golf to constitute an event. But that to me just seems extremely flimsy from a legal standpoint. Any state’s attorney could slap UIGEA down in front of a DFS site doing it and say really easily “This is one event. It may have multiple rounds, but it’s one event. What you’re doing is illegal.”

    I think most DFS sites are hoping that doesn’t happen, more than that they actually have a full proof legal basis to run it.

    I’m curious what other people think and the sites as well. And yes, despite all of this, I’ll probably still try it.

  • Greebo

    The DFS sites are run by humans, the chances that greed will motivate SOME of said humans to push the envelope until state or federal government intervention is called for by other humans that feel they’ve been taken advantage of is… almost inevitable.

    The type of intervention, based on previous Government actions, will assume the easiest laziest form there is. I’ll leave that open for you to determine.

    DFS sites do not have an SIPC like brokerages do, and are not FDIC insured like banks. They “guarantee” our money is held in some form of trust or fund and that we can withdraw it at any time, but at the end of the day that doesn’t give us any actual legal protection.

    Arizona, Iowa, Louisiana, and Montana residents are not eligible to deposit money and play paid entry games on FD. Legal residents of Arizona, Iowa, Louisiana, Montana, and Washington (the “Excluded States”) are ineligible for prizes offered by DK. Residents of the Excluded States are eligible to open and maintain accounts on DK for use only in games that do not offer prizes. As per DK’s.

    Ask yourself why?

    I am not being Cassandra. However I do feel everyone who plays DFS NEEDS to understand the risks associated with leaving LARGE amounts of money on ANY DFS site! In the event of a major scandal (however likely or unlikely it may be) there will be a run on them to withdraw money and don’t be surprised if it becomes a lot harder to withdraw your money.

    Personally, I am comfortable risking a thousand dollars as my bankroll. If for whatever reason, something goes horribly wrong, I can stand losing that. Every time I have more than that, I withdraw. I would LIKE to use a bigger bankroll, but I am simply not comfortable with the risk, in my opinion, in the current state of DFS sites. There is just too much gray area for my tastes and some of the sites are very loose in their interpretations of that gray area.

    Caveat Emptor.

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