i was just looking at the top 5 tournaments for golf on draftkings as the lock time passed.
i had noticed that their $5,300 buy-in golf "thunderdome" tournament actually lost money because the buy-ins were less than the guaranteed prize pool. (84 entires x $5,300 = $445,200 on a $450,000 payout... losing $4,800)
so instead of feeling sorry for draftkings, i decided to see how much rake they were going to make off the top 5 golf tournaments combined.
$2.5 million golf millionaire >> $341,267
$600k pga birdie >> $105,882
$450k thunderdome >> (-$4,800)
$400k club pro >> $44,222
$200k back nine >> $31,210
add them all up and they had a profit of $517,781 from their top 5 tournaments including losing a little money on the thunderdome.
this doesn't include the tons of other golf 50/50's and head to heads that they're running.
i just find it hard to believe that fanduel can't figure out a way to add golf and somehow be profitable. (maybe next year)
as a small business man myself, i'm happy to see draftkings making money and more power to them, but i do think competition is also good for the consumer.
i had noticed that their $5,300 buy-in golf "thunderdome" tournament actually lost money because the buy-ins were less than the guaranteed prize pool. (84 entires x $5,300 = $445,200 on a $450,000 payout... losing $4,800)
so instead of feeling sorry for draftkings, i decided to see how much rake they were going to make off the top 5 golf tournaments combined.
$2.5 million golf millionaire >> $341,267
$600k pga birdie >> $105,882
$450k thunderdome >> (-$4,800)
$400k club pro >> $44,222
$200k back nine >> $31,210
add them all up and they had a profit of $517,781 from their top 5 tournaments including losing a little money on the thunderdome.
this doesn't include the tons of other golf 50/50's and head to heads that they're running.
i just find it hard to believe that fanduel can't figure out a way to add golf and somehow be profitable. (maybe next year)
as a small business man myself, i'm happy to see draftkings making money and more power to them, but i do think competition is also good for the consumer.