Thursday October 8,2015 : AMAYA CALLS FOR REGULATION IN DAILY FANTASY SPORTS SECTOR
Vertical should be controlled at state level, new entrant to the sector proposes.
Online gambling group Amaya Inc., which recently entered the daily fantasy sports sector with its StarsDraft (formerly Victiv) site, has commented on the need for state regulation of the sector in a statement this week following the "insider" furore involving a DraftKings employee.
Eric Hollreiser, communications chief for the group, which also owns Pokerstars and Full Tilt said:
"The recent incidents involving the practices of the leading companies in Daily Fantasy Sports demonstrate that the current self-regulatory practices have fallen short and that we need stricter state regulation consistent with existing state consumer protections for other gaming activities.
"Amaya and StarsDraft.com call on state regulators to adopt tougher restrictions that safeguard players and institute controls to ensure all operators are held to a high standard of consumer protection and business integrity. We are launching an active effort to work with states to enact legalization that meets the consumer protection interests of all parties.
"Amaya is one of the most licensed gaming companies in the world and has a longstanding history of working responsibly and in partnership with regulators around the globe. Since we entered the DFS category earlier this year, we have brought regulated gaming best practices to StarsDraft’s already responsible business operations, including segregating player funds from operational funds and ensuring stringent controls that meet the demands of our compliance, audit and security departments.
"In addition to Know Your Customer, age and location verification, these controls include strictly monitoring, recording and restricting access to sensitive information. In light of recent events, we will be taking additional steps to ensure that our sensitive data is even further restricted, including implementing a new encryption scheme for all line-up data in upcoming contests.
"Consumer and player protection is and will remain of paramount importance to Amaya and StarsDraft. Beyond our current audit, compliance and security controls, our StarsDraft DFS platform strives to lead the industry using innovative features geared towards casual sports fans. We are committed to providing a fun, fair and engaging fantasy sports experience.
"Contrary to industry norms, StarsDraft works to ensure a proper and fair playing field for all those involved, including explicitly forbidding the use of professional scripts and bots in our contests. We provide a Bankroll Builder program, which allows users to learn more about daily fantasy sports in a risk-free environment, and offer a suite of anonymous head-to-head competitions, which ensure that users are playing against other sports fans in randomized matchups of skill."