Fantasy football arbitrage
A former hedge fund manager who served a four-month prison term for insider trading is the driving force behind the first Fantasy Sports Combine in Las Vegas, a three-day event where players can be tutored by industry’s top analysts, former athletes and championship-winning coaches.
Fantasy sports has grown into a $3.6 billion industry, with increasingly popular daily-play games joining the traditional season-long formats. Drew “Bo” Brownstein, whose Denver-based hedge fund Big Five Asset Management was shut down in 2011, came up with the idea last year. Guest speakers include Super Bowl- winning former coaches Mike Ditka and Mike Shanahan.
“Fantasy sports touches everyone from the head trader at Goldman Sachs to a guy making $60 a week,” Brownstein, 38, said in a telephone interview. “And it touches both men and women. It’s popularity is booming and only getting bigger.”
The event borrows its name from the National Football League’s annual Scouting Combine in Indianapolis, where this week the nation’s top college players are showcased before coaches and executives for the league’s 32 teams. Some of those NFL prospects may soon become important in fantasy sports, where participants select real players to their rosters and accumulate points based on the game-day statistics they generate.
The event is scheduled for July 17-19 at the Wynn Las Vegas, and Brownstein said he wants the convention to someday become as popular as Comic-Con, which for more than 40 years has brought fans together with comic book creators, science fiction and fantasy authors, television and movie directors, producers and writers.
“I have no illusions of that, but it’s something to aspire to and learn from,” said Brownstein, who played college football at the University of California at Los Angeles. “It’s a community experience and it offers something people are passionate about in an attractive package.”
Tickets to the conference start at $995 -- not including the cost of a room at the Wynn -- with a discounted price of $895 for those who register before April 3 at the Fantasy Sports Combine’s website. Brownstein said he expects between 1,500 and 2,000 attendees for the event, which begins three days after Major League Baseball’s All-Star Game.