Posting a day early because this new sports betting app costs nothing (you bet no actual money) yet awards prizes every day (actual money!) and I know the guy behind it — it’s not a scam — and I know that 27 million people play fantasy football (I saw that on CBS Sunday Morning this morning) and I know that millions more watch other sports, too, and once every year or two I try to post something here that’s sports-related even though I am still not certain how the scoring works. It’s three points instead of two if they get the pigskin through the hoop from far enough away, but not if the goalie manages to block it and he’s the only one who can use his hands — right? And then the winning team jumps over the net?
Here’s the website. The FAQ (which I now can’t find) is fun but does not address the most obvious question: how will it make money?
My friend explained:
“It’s free. The non-Super Bowl daily prizes are now between $500 and $1000. Super Bowl is a special day — there are usually 5 different games, today just one with 5 kinds of bets. (If you tap the ball there is an article about the game/bet for those who don’t know.) The revenue model is that some small percentage of players will play a money game at Daily Lineup which is another slightly more complicated sports game (you are asked after you place your free bets if you want to play Daily Lineup). Believe it or not, there is a fantasy sports exception in the gambling law that exempts sports-betting for games of skill. Betting on the outcome of a game is still illegal (but since Daily Bracket is free we can do it).”
Have fun tonight.
Quote of the Day
That I'm their competition.~Famed hedge fund manager Michael Steinhardt, when asked the most important thing an investor could learn from him.
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