INDUSTRY FORUM

Comments

  • 2Slik

    Can we get it out of the way and discuss the elephant in the room, Stake Kings?

    Is there a difference between lineup selling and crowdfunding?

    I get it but I’m not sure how well this is going to go over.

  • StakeKings

    @tipperi said...

    Yes, I did buy into the monster. Again, its “9% of 25%” as described in the package, the reality is its only roughly 2.25% because 75% of the entry wasn’t available for purchase.

    Yes, I agree the upside is there but again the fact that i bought into the wrong contest of the couple that Brandon posted last night is another piece of the variable.

    I’m also having a tough time understanding the sweat, if i cant see live results for the contest. Maybe I’m missing something there?

    The percentage that you see, is the percentage that you get of his package/winnings – there is no math required for our users to figure out their percentage :)

    So, if it says you purchased 9% – then you purchased 9% of the entire package. If you have any questions about this then please feel free to contact our live chat support on the bottom right of StakeKings.com (blue circle)

  • tipperi

    Sorry, but that’s incorrect and a bit misleading. When you purchase your portion of the stake via the packages, a % is provided during the purchase and following it during the confirmation. Even in the “To Be Played” section under my profile, this percentage stays the same. It is only after the contest begins or is completed that you can see your true stake % without doing the math.

    For example, I have a share of Brandon Adams tonight in the 95K Gold Glove. The buy in for the 2 entry max he will play is 3K. He posted 30% of the stake, and is keeping the other 70% for himself.

    $900 (the 30% he posted) is available. Plus the 15% rake, means that the entire 30% posted would cost you $1035.00. If I were to buy the entire stake at 1035, a confirmation message would appear telling me I have purchased 100%, when in fact i’ve only truly purchased 30%, because that’s all that’s available. So, if Brandon wins 10k, I would win 3k for the 1035 I posted NOT 100% of the 10K he won in the contest.

    I understood the math, and how everything works, but for the casual player who stumbles on to the site and gives it a shot there could be some confusion when it comes time to cash out. JMO

  • mambaland

    do you ever get a 1099 or is it non taxable

  • mambaland

    who is brandon adams on RG or Fanduel SN? they dont take paypal…ugh

  • FkCoolers

    • Ranked #71

      RG Tiered Ranking

    Unless I’m missing something, it’s not clearly visible how much a player is selling of themselves until the package is sold out.

    This plus lack of transparency into the actual ROI of the people posting packages seems a little concerning to me.

    If someone is just selling 20% of themself and is entering a lot of things, it may tell a different story than someone selling 70-80% of themself.

    I know StakeKings isn’t directly responsible for showing what a player’s ROI is but I think anyone investing in someone without having this information is a bit of an idiot if we are being honest.

  • cjeagle3

    A third of BrandonAdams season’s worth of MLB play is within the last 4 days, when he joined StakeKings but I’m sure that’s just a coincidence…

  • Stewburtx8

    • 2012 FanDuel WFBC Finalist

    @FkCoolers said...

    I know StakeKings isn’t directly responsible for showing what a player’s ROI is but I think anyone investing in someone without having this information is a bit of an idiot if we are being honest.

    I think you are missing the entertainment aspect of DFS. A majority of people play DFS for entertainment. If they want to invest a few bucks in someone playing in higher stakes contests (that they would never play) and follow along all night, that can be worth TO THEM any money they might lose. It is not all about ROI and profit for a majority of people that play DFS.

    Hell, I am a profitable player each of the last 6 years and I do not even track my results. I don’t go crazy but I also enter contests most nights on a whim. It’s still entertainment for me, even if I have had some small success. I’ve never used StakeKings but I’ve thrown a few bucks on players in these forums before. Hell, I sold a college football GPP package on RG one time before (no markup). It was fun/entertainment.

  • ocdobv

    @mambaland said...

    do you ever get a 1099 or is it non taxable

    It is taxable regardless of whether or not you get a 1099.

  • BobbyTheBrain

    @cjeagle3 said...

    A third of BrandonAdams season’s worth of MLB play is within the last 4 days, when he joined StakeKings but I’m sure that’s just a coincidence…

    This^ buncha suckers just feeding the sharks

  • petteytheft89

    • 7

      RG Overall Ranking

    • Ranked #7

      RG Tiered Ranking

    • 2018 DraftKings FBWC Finalist

    • 2019 DraftKings FBWC Finalist

    How can you tell it’s a 3rd of his seasons play?

  • petteytheft89

    • 7

      RG Overall Ranking

    • Ranked #7

      RG Tiered Ranking

    • 2018 DraftKings FBWC Finalist

    • 2019 DraftKings FBWC Finalist

    @Stewburtx8 said...

    I think you are missing the entertainment aspect of DFS. A majority of people play DFS for entertainment. If they want to invest a few bucks in someone playing in higher stakes contests (that they would never play) and follow along all night, that can be worth TO THEM any money they might lose. It is not all about ROI and profit for a majority of people that play DFS.

    Hell, I am a profitable player each of the last 6 years and I do not even track my results. I don’t go crazy but I also enter contests most nights on a whim. It’s still entertainment for me, even if I have had some small success. I’ve never used StakeKings but I’ve thrown a few bucks on players in these forums before. Hell, I sold a college football GPP package on RG one time before (no markup). It was fun/entertainment.

    I think people get misleaded very easily in terms of DFS though. There is nothing that says how much a person makes. People see a big name and instantly think he is a profitable player. There are several guys in the top 50 that are not profitable on the RG rankings.

  • Zieg30

    @Stewburtx8 said...

    I think you are missing the entertainment aspect of DFS. A majority of people play DFS for entertainment. If they want to invest a few bucks in someone playing in higher stakes contests (that they would never play) and follow along all night, that can be worth TO THEM any money they might lose. It is not all about ROI and profit for a majority of people that play DFS.

    I think you are missing the point when it comes to staking. Of course DFS can be fun even when one loses, and DFS can also still be fun when one stakes someone who loses that night.

    More information is required, however, if a site/player is asking users to fund others’ entries. Staking should not be a near-automatic loss, and shouldn’t be the same kind of loss most of us can have just by entering ourselves.

    ROI is a hugely important and helpful statistic for staking. It’s frankly near-fraudulent that stakekings doesn’t provide it as a regular metric. Instead, they provide a figure for many of their stake-ees that is utterly meaningless.

  • Zieg30

    @petteytheft89 said...

    I think people get misleaded very easily in terms of DFS though. There is nothing that says how much a person makes. People see a big name and instantly think he is a profitable player. There are several guys in the top 50 that are not profitable on the RG rankings.

    Exactly. Overall winnings are utterly meaningless when it comes to such activities. Any site that wants to consider itself reputable and honest has to do better.

  • mambaland

    @ocdobv said...

    It is taxable regardless of whether or not you get a 1099.

    well if they dont report it neither do i fwiw

  • Zieg30

    @mambaland said...

    well if they dont report it neither do i fwiw

    You’re committing tax fraud fwiw.

  • biglucky

    • x2

      2016 DraftKings FBWC Finalist

    • 2016 DraftKings FGWC Finalist

    Are they still posting packages in the DFS section?

  • einars

    @Zieg30 said...

    You’re committing tax fraud fwiw.

    ^^^^^

  • mambaland

    yea well who doesnt ..its my money not the govts…you think everyone who does work IE waiter or bartender or hairstylist are honest on their taxes…how may dfs pro’s do you think are? anyway would take my chances and assume i can spend my money better than Sam can

  • einars

    @mambaland said...

    yea well who doesnt ..its my money not the govts…you think everyone who does work IE waiter or bartender or hairstylist are honest on their taxes…how may dfs pro’s do you think are? anyway would take my chances and assume i can spend my money better than Sam can

    “yea well who doesnt” -most people
    “its my money not the govts” – actually in this case its not
    “you think everyone who does work IE waiter or bartender or hairstylist are honest on their taxes” – im sure the IRS would accept this argument. its air tight
    “how may dfs pro’s do you think are?” – i would guess almost all pros are reporting their income
    “anyway would take my chances” – good luck to you! you will probably get away with it, but that doesnt really make it right.
    “i can spend my money better than Sam can” – yeah, no doubt. uncle same is the worst.

  • whoisjohngalt420

    I commend einars for saying what many other people were possibly thinking and just didn’t have nerve to say, including myself.

    I also commend einars for not correcting mambaland’s misuse of IE over EG

    I could be wrong on this last statement. Who knows, i am wrong a lot. Maybe mambaland is correct and waiter’s, bartender’s and hairstylist’s are the only one’s who work?

  • Charlie26x

    Anyone have any good or bad experiences? Safe deposits and withdrawals?

    Thanks for the insight.

  • winnerchickendinner

    So if I do purchase a stake and the target number is not met do I get my money back?

  • run199

    Is anyone else having trouble getting paid from SK ? I asked for a simple $50 withdraw on Friday and all I have gotten is a series of excuses as to the delay and now they aren’t even replying to me on their live chat feature. I smell a repeat of Fantasy Aces and I don’t see a FantasyDraft coming to rescue me anytime soon.

  • jstevens2k11

    I had fun on StakeKings sweating some of the poker but the only thing i was pretty unhappy about is all these pros posting stakes and then not playing in them. There were about 2-3 times i got fully refunded, quickly, but got stuck not being able to stake what i wanted to stake. Shouldnt be allowed to post an option to stake something if the pro has no plan to play in it…

  • run199

    @run199 said...

    Is anyone else having trouble getting paid from SK ? I asked for a simple $50 withdraw on Friday and all I have gotten is a series of excuses as to the delay and now they aren’t even replying to me on their live chat feature. I smell a repeat of Fantasy Aces and I don’t see a FantasyDraft coming to rescue me anytime soon.

    No sooner do I post this than they suddenly pay up. Took a few days but as long as I know the turnaround time for withdraws I am ok with staking a few pros.

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