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LEGALITY OF DAILY FANTASY SPORTS TO BE STUDIED
Thursday July 30,2015 : LEGALITY OF DAILY FANTASY SPORTS TO BE STUDIED
ESPN reports that Nevada Gaming Control chairman AG Burnett has begun an analysis.
The booming and billion dollar development of the daily fantasy sports phenomenon in the United States was bound to attract official attention at some point, and according to ESPN it has done just that.
The usually reliable publication reports that Nevada Gaming Control Board chairman AG Burnett has triggered a legal analysis of the vertical, welcoming input from interested parties.
A growing number of new operators are entering the DFS sector, which is currently dominated by DraftKings and FanDuel, each signing partnerships with major sporting bodies and generating billions of dollars in marketing and prizes.
Under existing federal legislation, fantasy sports enjoy a carve-out - a loophole which operators have been quick to exploit in recent times. But those who argue that DFS is nothing short of gambling - and there are a growing number of this view - point out that the development of daily fantasy sports has produced a new medium somewhat different from the traditional and more leisurely fantasy sports pastime protected by federal exemption, and one that encourages and constitutes gambling.
Proponents of DFS argue that the vertical satisfies all the requirements of the law: Prizes are publicised in advance and are not influenced by the buy-in or number of entrants; there is a definite and predominant element of skill involved; and wins are not based on point spreads or real teams.
So far, the DFS argument has held strong, and the pastime is legal in all but a handful of US states, which jealously guard the right under the constitution to make their own laws when it comes to matters such as gambling.
The Nevada decision to conduct an independent review of the legality of the current DFS product in state rather than federal terms could represent an important milestone for the sector, and perhaps the beginning of a more formalised regulatory system. As such it will be watched with interest.
Betradar Launches US Sports Betting Solutions -
With only a few weeks to go until the betting and gambling world descends on ICE in London, Betradar have today announced that they will be launching a comprehensive range of tools and services to any company that will be looking to provide sports betting in a post-PASPA United States.
Final 12 For MPNPT Morocco -
Sunday on the MPN Poker Tour Morocco will see several trophies awarded at the Mazagan Beach Resort, with the largest going to the Main Event champion along with a prize of MAD 400,000 (c.€35,400).
MPNPT Morocco Updates -
Leading the 104 combined survivors from both flights is still Said El-Yousfi with 272,000 chips; visit the MPN Poker Tour blog for an end-of-day recap and full chip counts.
MPN Poker Tour Morocco Day 1A -
The MPN Poker Tour has returned to Morocco this week (January 11-14), featuring the MAD 1.5 million guaranteed Main Event, accompanying side events, and the activities and parties for which this tour has now become known on two continents.
2018 MPN Poker Classic -
The MPN announces the return of The Classic tournament series this January. The series is back following its successful €350,000 guaranteed debut in 2017. This time €500,000 is guaranteed, along with a once in a lifetime trip to Monaco for the Classic Champion.
PDC and Sportradar Renew Deal -
Following this month’s hugely successful World Championship, the Professional Darts Corporation (PDC) and long-standing partners Sportradar have renewed their multi-faceted cooperation that will see the leader in sports data and content continuing in their role as official data
Poker Yaar Joins MPN -
Available through download, instant play and mobile, Pokeryaar.com is live with Omaha, Hold’em and Five-Card poker variants, alongside MPN’s Fish Party, the industry’s only progressive jackpot SNGs.
New MPN Poker Rooms Tower Torneos -
Impressed with Microgaming, having already integrated with the Quickfire platform to gain access to some of the industry’s best gaming content, Tower Torneos has extended the relationship with poker.<
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