DFS: Top 1 Percent Win 90 Percent of Payouts

It's hard to watch a pro sporting event on TV without seeing an ad for FanDuel or DraftKings, the two largest daily fantasy sports (DFS) sites. The industry came out of nowhere in the past six years and now serves millions of sports fans nationwide. Both companies have major, deep-pocketed backers and sport billion-dollar valuations.

But the very foundation of the game could be crumbling, accordingh to Business Insider.

First came the allegations of insider trading, followed by a more fundamental threat: In the past several weeks, states including Nevada and New York have outlawed DFS, declaring it gambling as opposed to a game of skill. Both sites remain closed for business in the state of New York.

For players, meanwhile, this is perhaps the most explosive revelation of all: A recent report indicated that about 1% of the players take around 90% of the profits.