On Monday, rival fantasy sports companies DraftKings and FanDuel released joint statements defending the integrity of their operations after news broke that a DraftKings employee inadvertently released data prior to the start of week three NFL games and subsequently won $350,000 playing on FanDuel that same week.
The revelation has led to widespread accusations that employees at the fantasy sites are acting in a way akin to insider trading, using valuable non-public data about how much money is being bet on certain players to place their own wagers on rival sites.
Self-Policing
According to the statement, both DraftKings and FanDuel have policies in place to prevent employees from abusing their access.
“Both companies have strong policies in place to ensure that employees do not misuse any information at their disposal and strictly limit access to company data to only those employees who require it to do their jobs,” the statement read. “Employees with access to this data are rigorously monitored by internal fraud control teams, and we have no evidence that anyone has misused it.”
Potential Impact
At least temporarily, both FanDuel and DraftKings have banned…
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