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Gambling911.com sister site DFS911.com Monday reports on how a series of research determined that Daily Fantasy Sports are not what they are cracked up to be.
A paywalled survey of 1,400 DFS players that Eilers Research shared with Tech Insider shows that 70% of Daily Fantasy Sports players actually reported losing money.
Sports Business Daily authors Ed Miller and Dan Singer write: "In the first half of the 2015 MLB season, 91% of daily fantasy sports player profits were won by just 1.3% of players.
Analyst Chris Grove of LegalSportsReport.com tells the Financial Times of London he sees a lot of similarities between the people who excel in DFS and the top poker players during the boom of the past decade.
"The primary characteristic in both DFS and poker is the willingness to develop a comfort with data analysis," he says. A willingness to believe that there is a truth in the data, and the willingness to pursue that truth, and be willing to risk money on that truth."
But as Drake Baer of the Financial Times suggests, unless you’re already a statistician, the odds of winning are closer to zero.
- Don Shapiro, Gambling911.com
