Drew Dinkmeyer
Brokerdealer.com blog update courtesy of Wall Street Journal.
For one brokerdealer his enjoyment for fantasy sports turned into a profiting, full-time career
Drew Dinkmeyer was a 31-year-old investment analyst when, two years ago, he decided to do something that most people would consider clinically insane: He quit his job in finance to play fantasy sports for a living.
Dinkmeyer, who was profiled in a front-page Wall Street Journal story on his last day of work in 2013, was one of the earliest stars of daily fantasy sports, a twist on the traditional game in which players draft new teams every day instead of sticking with them for a full season.
It turns out that Dinkmeyer wasn’t crazy at all. At the time, he said, he was already making as much money playing fantasy sports as he was in finance. That hasn’t changed since his side job became his full-time job, he says.
He also just hit his version of the jackpot. Last week, along with more than 100,000 contestants, Dinkmeyer entered a football tournament hosted by the DraftKings daily-fantasy site—and Dinkmeyer won first place.
The prize: $1 million.
“I’ve had profitable years in both baseball and basketball so far,” he said Tuesday, “and now football is going to be a hugely profitable year.”
Dinkmeyer entered 49 teams into last weekend’s “Millionaire Maker” tournament. Each entry cost $27 for a total investment of about $1,300. For the 44th of his 49 teams, Dinkmeyer drafted New York Giants quarterback Eli Manning and wide receiver Odell Beckham Jr., a combination that combined for six touchdowns on Sunday, much to Dinkmeyer’s surprise. Manning had never worked out for him in the past. “It has been a disaster,” he said. “For years, I’ve been afraid to use him, because I don’t feel like I have a good read on him.
For the full article from Wall Street Journal, click here.