Monday, September 19, 2016

Turn Your Lemons Into Lemonade - How A Negative Situation Birthed This Company!


It was November, 2015. It was a good time in my life. I had been out of full time work since the beginning of May. I worked part time as a driver for two companies and at the end of the month, I would be starting a new full time position.

This was also my first full year playing daily fantasy sports. I learned a lot this particular year and I was putting the pieces together to be able to begin winning more consistently. I wasn't in full profit mode yet, but I was getting close to it just grinding out games daily.

Then, social media exploded!

Eric Schneiderman, attorney general for the state of New York announced that daily fantasy sports was considered an illegal gambling operation in this state. As a result of this announcement, he issued cease and desist orders to both DraftKings and FanDuel, the two leading daily fantasy sports providers in the state.

I was devastated! Just when I was finally starting to put things together now I won't be able to play anymore? New York state wasn't the first state to take this action and in all the other states the two companies decided to pull out. So I figured that they would make the same decision here in my state.

FanDuel did in fact stop taking deposits. However, to my surprise, DraftKings, the company that I play on and who I am partnered with, refused to stop taking deposits!

New York State was the largest state in terms of customers for these companies. FanDuel even has its home headquarters right here in this state. The daily fantasy companies refused to go out without a fight. 

So they responded to the cease and desist letters by suing the attorney general. 

Since Draftkings defied the order, I was able to continue playing the games. I'm so grateful that DraftKings defied that order. The very next month, the month of December, I would experience a breakthrough moment!

It was December 1st. I was two days into my brand new job. I played daily fantasy NBA that night. I entered some lineups in contests just like I always do. However, this would be no ordinary night.

I was on my way home from my new job and I went to check my lineup. I saw a lot of GREEN! 

Wow, this is great! My lineup is doing pretty good!

I looked at my balance and saw I was up double my entry fees. Any night where you make twice as much as you put in is a good night.

Then I checked my lineup again and saw that my prize pot kept increasing and increasing! I looked a little deeper and it turned out that my main lineup I also entered in to large field tournaments and it was doing VERY well. Eventually it got up to 10th place. Then it got up to 5th place.

It looked like I was going to finish in 5th place, which would have been a pretty good night. A 5th place finish would have paid me more than what I made on BOTH my full time job and my part time job that day.

I could live with that!

However, there was a basketball game between the Dallas Mavericks and the Portland Trailblazers. I had like three players playing in that game. All my players were doing very well. This allowed me to get as high as fifth place.

Then the game ends up going into overtime!

Since I still had three players playing in the game, I got the opportunity to accumulate even more points! This allowed me to go from 5th place to 1st place and take down the top prize! I also was able to take down 3rd place in another tournament that night.

This win was huge! My prize fee was enough for me to withdraw 5 TIMES what I initially started out with and still have more than enough to continue playing and play more games than I had been playing before.

It propelled me to the top third of players in the industry! To this very day I am currently ranked in the top 35% of fantasy sports players and a lot of it had to do with that win. While there are millions of players that play the games, only a few players have a 1st place finish on their resumes.

I actually have two of them now. However, the first one was not considered a ranked game so it didn't count.

About a week later, the daily fantasy sites met up against the New York attorney general in court. The judge ruled in favor of the attorney general. However, an appeals court stayed the injunction, which resulted in FanDuel returning to the market.

So now, as you can imagine I am totally ecstatic about playing fantasy sports! I continued playing into the new year fresh of the excitement of my big win as well as having a larger bankroll to play with more games. Plus an appeals court overruling a Supreme Court judge looked like a really good sign as for the prospect of daily fantasy sports in the state.

Unfortunately, things started to go south. In February, Citigroup announced that they would stop processing daily fantasy sports transactions in New York. Vantiv, another payment processor pulled out back in November.

Then in March, the fun would come to an end. 

Both DraftKings and FanDuel announced that they had reached a settlement with the New York Attorney General. As a result of this settlement, they agreed that they would cease and desist operations in the state of New York. 

In return, the attorney general agreed that if the companies could get a bill passed by the time they would go back to court in September, he would honor the bill and he would drop his lawsuit against the companies in terms of their legality to operate in the state.

That was it. I could no longer play daily fantasy sports in the state of New York.

I still played periodically whenever I had the opportunity to travel. However, it just wasn't the same. Momentum is a real thing. It can be difficult to build up and it can be easy to lose. Since I was no longer able to play daily, I lost a lot of momentum and my bankroll took a huge hit because of it.

At this point, I had to face the prospect that I had no idea when I would be able to play the games again. Would I ever be able to play at all???

I continued to work at my two jobs. However, my heart has and has always been the heart of an entrepreneur. As such, going into April, May and June, I had to figure out what my next move was going to be.

Moving to another state really wasn't an option for me. I have joint custody of my children here in New York so I'm pretty much tied up here until they become adults. On top of that, what if I move and that state takes the same action as New York?

I considered a few options. I thought about becoming an author and public speaker. I thought about trading FOREX and/or options. I thought about a number of other types of businesses that I could get into.

However, I just couldn't get this sports bug out of me.

In June of 2016, I watched a video by Gary Vaynerchuk. If you aren't familiar with Gary, he is an entrepreneur who made a name for himself by taking his passion for wine and turning it into a successful online show. He then parlayed his success to get into business and marketing consulting.

One of his primary themes is passion and getting his students to build a business around their passion.

I actually do enjoy internet marketing and consulting. However, I had to be honest with myself and ask myself could I realistically be the best in the world at that?

Part of the challenge when you are a dreamer and a big thinker like myself is distinguishing between your dreams and reality. While your reality can most certainly change it still helps to be somewhat realistic about it.

Being realistic, I had to come to the realization that I probably will not be able to be the best in the world at internet marketing and consulting entrepreneurs.

Fantasy sports? While it would be difficult to become the best in the world at it, fantasy sports is a little more realistic for me. The challenge though is that at this time it was still illegal in my state.

That's when I had an epiphany.

There was one thing that I could absolutely be the best in the world at. In fact, I don't even know if there is ANYBODY in the world that is doing anything like this right now.

I can be the best in the world at showing sports fans how to turn their passion for sports into an opportunity to make money and/or a profitable business!

After all, why do I love fantasy sports so much?

It combines sports, games and money! 

Three things that I am tremendously passionate about!

More importantly, it puts me in a position where the legality of fantasy sports is irrlevent. As you will see over the next several weeks fantasy sports is only ONE way you can make money from sports. 

There are a LOT of other ways that you can as well.

Ways that I am going to teach you about right here on this blog!

Eventually, fantasy sports was legalized once again in the state of New York. I've been playing since August of 2016 when the sites relaunched in the state.

If you are interested specifically in fantasy sports I have a blog set up that I will be writing weekly on called The Fantasy Sports Professional. 

On that blog you will be able to follow my journey every Monday as I go from a part time player to a full time player.

As for ALL of the other ways you can earn money as a sports fan? You can learn about those opportunities right here on this blog! 

5 Days A Week, Monday through Friday I will have a new post for you designed to educate, encourage and inspire you to pursue your passion for sports!

Did You Know There Are Currently 9 Things You Can Do Right Now To Make Money As A Sports Fan? To Learn More Sign Up For Our Free Online E-mail Course With 10 Days Of Free Content!

Sports4Profit is an educational and consulting company designed to help YOU the SPORTS FAN to start to monetize your passion for sports. Sign up today by filling out the form below!



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