– Are there any cold beers? – Yeah, on the back stoop. Can you get me one? – My mom is going to kill you. I swear to God. No, my mom is actually going to kill you.
I’m living in a fraternity house. I came out here to go to DePauw University to study economics for my college experience. A typical morning, it’s pretty much just me hanging out, poring over baseball stats. I play probably 450, 500 different games a day. I wagered about $12,000 this morning. – That’s a lot of money.
– Yeah, it is. – You confident? – I’m very confident. I wouldn’t be wagering money on this scale if I wasn’t very confident in my abilities. I mean, I lost about $18,000 last night, so it offsets it. It fluctuates.
– How much have you won? – My bankroll, I mean, it’s in the hundreds of thousands. I’ve made hundreds of thousands of dollars doing this over the past… almost two years now. – The core of our game is not about the money. When you ask people why they play, they play because it makes the games more exciting.
– What’s the biggest prize a player could win? – We have contests where people can win up to several million dollars. – Several million? So you don’t view what you do here at FanDuel as gambling?
– No. – That’s a word that isn’t used very much around here, I take it. – Nope, because we are… Every time that you talk to our users, what comes through loud and clear is the fact that we’re an entertainment product.
– So you see no reason, then, for fantasy sports to be regulated by some government agency? – Our product is all about entertainment value. – Is what you do gambling? – No, it’s not gambling at all. Um, I mean, it’s… I consider it more of investing.
You know, I have a portfolio. I’m trying to diversify the portfolio by picking players every day. I’m trying to maximize returns.
I’m trying to optimize my line-up each day. I mean, it’s like you’re given $1,000 to bet on the stock market in a day. It’s no different than that.
– You told me that FanDuel doesn’t like the word “gambling” associated with its brand, and you told the story of they contacted you and asked you not to use that word. Tell me what happened. – Um, I prefer not to answer that. – Okay. Okay, because you don’t want to get them angry, or…? – Because I don’t want to do anything to upset the industry.
I mean, that’s my job at stake, pretty much. I mean, I can take my economics degree and I can go into investment banking. I’m not entirely sure that’s what I want to do. I don’t want to work 70-hour weeks.
Something like this is perfect for me. I don’t have to sit in a cubicle all day. I can just continuously try to grow this into something that I can do after college. I mean, I like sports for different reasons now.
I like it because it makes me money. (laughing)