Is DraftKings a Scam?

| March 1, 2014 | 9 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!

 

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Category: Tips & Info

Comments (9)

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  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

  3. Jeff says:

    What I mean by scam is this…Do you think that the people who run the site cheat…it would be so easy for them to pick a winning combination of players after the games are played and then submit it…Or can you see all the names before the games start?

  4. Chris B says:

    Draft kings is a scam-
    I played the NFL last year-
    Noticed the exact same winners in the same game would win 1st place – 2nd place- 3rd place etc etc
    Meaning that player would have to pick different fantasy teams and enter many many times in that exact same entry ?
    Who would do that 10 x?
    A pay each fee per entry?
    And amazingly WIN!!! All ?
    What are the odds?
    147 billion to 1′
    Yikes!
    Amazing scam!!!!
    Also- have you noticed the same 3 commercials on Espn and other stations?
    For over a year? The same silly stupid tv commercials over and over? Odd huh?
    Supposingly new winners?
    Yet only 3 big winners for ovef a year now?
    I think thats the dead giveaway!
    What a fraud! Wow!
    These clowns are laughing all the way to the Bank.

  5. Scott Hemsley says:

    The only fear I have is its a set up and Draft Kings has the winners all set and ready to go. They have total control of what teams are set up. It would be extremely easy for them to post teams after the day is done, make changes to teams as games go on. I’m going to play, but its a concern and will continue to be until I see someone I know win or they figure a way to be transparent.

  6. Frank says:

    It is not a scam. Its a lot of fun. I play every week. You can only lose as much as you put in.

    • Charles says:

      the scam is the $ bonus they give you for the first deposit. They tell you up to $200, but to get that much of a bonus you have to bet over $6,000. That is what they don’t tell you.

  7. Thomas Pouncey says:

    DraftKings is 100% legit and if you win the money is real and is deposited in your PayPal account within hours. I know this became I won $1088.00 and anything won over $600 is reported to the IRS and I had to fill out some tax forms and the money was in my account within 4-6 hours. I really didn’t pay much attention to the sign up bonus and it may have some small print tactics involved with it but the most important part of the matter is 100% LEGIT and the money is Real.

  8. Anthony says:

    drift king is a scam I played MMA last night went too bwoke up this morning try the check the website for the MMA recent it wasn’t there about 10 o’clock it showed up this is about the fourth or fifth time this is happen I will never play FanDuel or drafting anymore. scam scam.

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