Sharp Words About Online Gambling
Added: Jan. 18, 2016
Sharp words, indeed from none other than the owner of the Dallas Mavericks and Shark Tank Investor when queried on the topic. Specifically Mr. Cuban just so happened to be at the most recent Consumer Electronics Show out in Las Vegas. Get this, Cuban was asked to be on a panel at the inaugural Sport Business Forum which was setup and hosted by Turner Sports.
Truth be told, Mr. Cuban is on the record as being an investor in a new online gambling startup by the name of Fantasy Labs. And to be fair, Cuban made it clear that he owns a stake in this online gambling site. But what captured the crowds attention was a quote that has been oft repeated over the last few weeks or so. In so many words, Cuban let it be known that in his opinion: “…you have to be an idiot to be thinking playing daily fantasy sports games are like sports betting or online poker.”
You can get a sense of the thinking behind Mr. Cuban’s pronouncement when you look at another statement he revealed. Interestingly this later statement clearly identified one way that a site such as Fantasy Labs as well as others are in fact profiting from the sudden new popularity of daily fantasy sports betting activities.
Check this out for yourself. Cuban was overheard saying:”…people pay them a lot of money to do analytics for daily fantasy sports which gives these online fantasy sports betting fans a chance to win millions of dollars by compiling the best lineup of players for a given game or week.”
Did you catch that? Apparently Cuban’s new startup is making some serious cash from providing metrics and data from those who are clearly interested in profiting from fantasy sports. Incidentally, hidden in that statement is the thinking behind his contention that daily fantasy sports betting is a game of skill and can not in any stretch of the imagination be likened to normal gambling or the typical online casino action.
Cuban went on to state that: if it was gambling like the lottery you would not need to do that”. Here Mr. Cuban was pointing out that the daily fantasy sports betting fans are paying for this sort of analysis which would not make sense if daily fantasy sports betting was only gambling.
Agree or disagree with him, you have to give Cuban credit for pointing out the real differences with daily fantasy sports betting.