NEVADA REGULATOR APPROVES LICENCE FOR DAILY FANTASY SPORTS COMPANY
Sanderinia II authorised to provide USFantasy DFS action to major Nevada casinos.
In a unanimous vote this week, the Nevada Gaming Commission has approved the licensure of Sanderina II to provide daily fantasy sports (DFS) contests to major casinos in Nevada.
The casinos will subscribe to the USFantasy platform through a licensed disseminator, which will distribute the contests to race and sports books within Nevada casinos.
USFantasy contestants will have the chance to win a $1 million prize in a weekly professional football contest.
In addressing the Nevada Gaming Commission, Vic Salerno, president of the company, explained, "We will begin operations in August with daily fantasy professional baseball and then football and continue with a library of over 11,000 different events annually."
The fantasy contests will offer Win/Place/Show, Exacta and other exotic wagering for all sports contests offered. For pro fantasy football, a $1 million progressive jackpot Pick 7 contest is planned for correctly selecting the winners of seven different contest categories.
The progressive jackpot pool will grow weekly if there is no contest winner.
The USFantasy daily fantasy platform uses a pari-mutuel system, which Salerno says creates a fair and transparent environment for all contestants. The contest selection process is simple with less than twenty entries in each contest category.
"We are actively working with the legislative and regulatory bodies of several states to propose the adoption of the USFantasy platform as a turn-key way to regulate, provide tax revenue, and offer a fair platform for fantasy sports through casinos, racetracks, and lotteries where legal," Salerno revealed, claiming that the Nevada licence is the first DFS licence granted by any regulatory body in the United States.