“That was a long time for me,” he told ThinkProgress, looking back. “I followed the commercials on ESPN… And I saw the way they hyped it. They said that for a $2 entry fee, this guy won $1 million.”
So Jay (who asked that his real name be withheld to protect his anonymity and that his counselors be identified only by first name) created a FanDuel account, filled it with $200 and started to play. Predictably, trouble soon followed.
“I was playing in $1,000-entry-fee tournaments every day. I played them for 20 days straight.”
Once the dust had settled and Jay finally stepped back, he was poorer to the tune of $50,000.
“That’s how much I lost out of pocket; it doesn’t include what I won and gave back,” he said. “I probably gambled $150,000 total. There were days when I’d lose $3,000, and then come back the next day and win $4,000.” READ MORE