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Massachusetts Wants Fantasy SPorts Regulated

Saturday October 31,2015 : REGULATE D.F.S. SAY MASSACHUSETTS REGULATORS (Update)
 
Similarities with other forms of gambling cited.
 
The meteoric rise of daily fantasy sports, and its similarity to other forms of gambling, prompted Massachusetts regulators to come out in support of the vertical's regulation Thursday.
 
Massachusetts Gaming Commissioner Enrique Zuniga told the Associated Press news agency: "There are enough similarities to other forms of gambling that it warrants regulation," whilst Commissioner James McHugh commented: "You need to have somebody watching carefully when big sums of money are being transferred."
 
The Massachusetts Gaming Commission is beginning public discussions on what direction the state should take regarding DFS, and the five-member regulatory panel discussed the issue Thursday, promising to quickly deliver a policy paper in order to guide members of the state legislature on the issue.
 
Chairman Stephen Crosby said that the industry needs to know what the "rules of the road" are, and that it was necessary for Massachusetts officials to move quickly on the issue.
 
Following the panel's meeting, a spokesman for one of the market leaders, FanDuel, said that the company supports the concept of regulation, but warned that the imposition of casino gaming style restrictions could slow DFS development.
 
"This industry is not brick-and-mortar casinos. It's conducted in a completely different manner," the spokesman said. "To the extent that there is any risk, it's not anywhere near as profound as in a casino or a traditional lottery."
 
Jason Robins, CEO of the other market leader, DraftKings, said his company is committed to working with the commissioners and other authorities to ensure the DFS industry is operating transparently.
 
Regulatory staff have challenged the DFS industry's contention that daily fantasy sports is exempt from the provisions of the UIGEA, observing in a memo to the commissioners that the variant did not even exist when the act was passed in 2006.
 
The 12-page memo notes that commissioners need specific legislative authority to regulate daily fantasy sports.
 
Associated Press observes that Massachusetts is one of at least nine states looking into regulating fantasy websites.

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Gambling News :

Pokerstars Now Lead Sponsor of Global Poker League - Alex Dreyfuss Global Poker League has received a significant boost from the announcement by Dreyfuss Mediarex Sports and Entertainment company Friday that online pokers biggest operator, Pokerstars, has signed on as lead and exclusive GPL sponsor.

Betconstruch invests in Ucrafts - BetConstruct may have also been attracted by the obvious interest in Ucrafts business - the start-up has already gained 5,000 subscribers in just a few months of commercial activity.

Plus500 Founders Selling Off Shares - Alon Gonen and Gal Haber respectively sold 7.2 million shares, retaining a 10.4 percent interest in the company; and 2.6 million shares, retaining a smaller stake of just 3.6 percent.

Rush Golf Live Launches - Virtual sports provider Inspired Gaming has announced the launch of its latest product - Rush Golf Live - with Betfred the first operator to carry the game.

British Basketball League in Deal With Perform - The British Basketball League has agreed a six-year deal with Perform, a digital sports content and media group, for the distribution and sale of all global media-related rights.

Ashley Sandyford Sykes Sharing Slot Expertise - Sandyford-Sykes has experience in the development of over a hundred popular online slot titles and led the Quickfire development team at Microgaming.

2016 WPT National Marrakech High Roller Results - Spanish poker pro Nabil Cordoso boosted his career earnings by a useful $66,873 this week when he was awarded the first prize in the PMU.fr WPT National Marrakech High Roller event in Marrakech.

GreenTube and Chopsticks In Partnership - Novomatic Interactive subsidiary Greentube has announced that it has signed a partnership deal with the Gibraltar-based mobile app developer Chopsticks In The Apps Ltd through which it will organize distribution of Chopsticks games through its online, mobile, social and land-based channels.

DraftKings Investigating Collusion Complaint - The stigma of cheating has surfaced again in the daily fantasy sports sector following allegations that two players colluded in a million dollar contest at DraftKings.

Singapore Gambling Exemptions Granted - The issue of certain state-linked commercial organisations being granted exemptions from Singapores tough anti-online gambling laws has been on the table for the past few months and has been the subject of opposition complaints; protest petitions and general argument.

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