Is DraftKings a Scam?

| March 1, 2014 | 2 Comments

 

Is DraftKings A Scam?

A frequent question people looking in to daily fantasy sports sites have is, “Is DraftKings a scam?” They ask this because they know that gambling online is illegal, yet this site claims to offer real money prizes betting on fantasy sports. The truth is, the site is 100% legit and 100% legal (except for residents of Arizona, Iowa, Louisiana, Montana, Washington, and Quebec due to state-specific laws).

Due to a loophole in the 2006 law that made online gambling illegal, this and other daily fantasy sports sites are able to pay out real money.

The law that made online gambling illegal, 2006’s Unlawful Internet Gambling Enforcement Act, explicitly carved out an exemption for fantasy sports online. This was done because millions of Americans use websites to run their season-long fantasy leagues.

Since money is often wagered on this, suddenly millions of people would find themselves on the wrong side of the law. In order to prevent this, fantasy sports were exempted from these rules.

These same rules apply to daily fantasy sports. The only difference between season long fantasy sports and daily fantasy sports is the length of a particular game.

Therefore you can be confident that you are not running afoul of the law by depositing to DraftKings. It is completely legal, the money you win is legit, and everything is done above the board.

Just because it is legal, however, does not necessarily mean that it is legit. Fortunately, DraftKings is not a scam and they work exactly as advertised. They are based in the USA, meaning they are subject to American law. This is not some shady operation based on a small Caribbean island that you’ve never heard of.

It is an American company that has been featured in major publications such as the Wall Street Journal and the Boston Globe. You can trust DraftKings because it has been endorsed by these reputable news outlets.

It means they are not scamming you when they offer great deposit bonuses or the amount of games that they have. It is very easy to deposit with your PayPal account, and if you win, you can withdraw that money immediately back into your PayPal. There is no waiting for a check or extra hoops to jump through – you are paid immediately upon winning and will have access to that money as quickly as PayPal can process it.

Often this is done immediately. The reason we play daily fantasy sports is to win cash, and at DraftKings, you will get the fastest payouts in the industry.

If you are hesitant to deposit into DraftKings because you fear it is a scam, don’t worry. The claims may sound too good to be true (especially for people who lost money when the government shut down the online poker sites) but they are exactly as advertised.

If you love fantasy sports and want to play every day, make a deposit to DraftKings. There are thousands of satisfied players on this site playing daily.

To see what all the fuss is about, make a deposit today or play their Free Games!

 

Tags: , , , , , ,

Category: Tips & Info

Comments (2)

Trackback URL | Comments RSS Feed

  1. while it is true that they are legitimate sights there advertising about matching your first deposit is at best misleading and at worst an outright lie.

    At the start of the NFL season they say they will match your first deposit up to $200. Draft Kings claims they tell you how the bonus works at the start, but not really.

    The way the initial bonus works it is released based on bets you make. They release 4 cents per $1 you bet. So your real bonus on the $200 is not $200, but 4% of $200 or $8. If you think you will have $400 to bet with if you put $200 in than you are sorely mistaken. If you don’t win anything you will have $208 to bet with. Even if you win $200 you will only get $16 of the promised $200 matching deposit.

    This is what I call misleading and a scam.

    All that said, Draftkings is better than fanduel in that they have more free contests, and inexpensive contests than Fanduel.

    My summary is if you like Daily Fantasy sports, play Draftkings, but don’t put a lot of money in and don’t expect a matching bonus. It just is not true.

    To get your $200 bonus you would have to bet $5,000 and then you will get the $200 that they say they are matching. They make a profit of $300 on the $200 promised and you have probably lost at least a couple thousand dollars to get your bonus.

  2. Jay Gellman says:

    I say its a scam, got a email today from MLB with a contest that is No purchase Necessary to enter so I figure let me see what this is all about. All of a sudden I find that If I want to submit my free entry, I have to pay Draft Kings money first. This is no way a free entry as advertised it is a 100% scam at least as far as this MLB contest goes

Leave a Reply

Your email address will not be published. Required fields are marked *


*