The company was the single largest television advertiser last week, and during the first week of the National Football League season, DraftKings and competitor FanDuel spent over $26 million on ad spots. Yes, I understand that I that if I screwed up my fantasy draft, I can just try daily fantasy sports. “They need to understand the legal issues if they step into that arena”.
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We’ve gotten to the point where literally everyone except the players can profit from college sports.
The super-aggressive advertising plan for DraftKings and FanDuel recently caught the attention of Massachusetts Attorney General Maura Healey, who said she would look into the legality of the gambling (which, let’s be real, is really what fantasy sports is) that occurs on both websites. Last week, Rep. Frank Pallone, D-N.J., the top Democrat on the House Energy and Commerce Committee, said he wants Congress to hold hearings to explore the legal status of fantasy sports.
2, Daily fantasy, in fact, is sports betting on steroids.
How do Indiana’s efforts compare with fantasy sports-related activity occurring nationwide? DraftKings CEO Jason Robins is scheduled to be part of a panel discussing whether or not fantasy sports are a form of gambling.
Geoff Freeman, president of the American Gaming Association, says the organization welcomes the attorney general’s review. The Unlawful Internet Gambling Enforcement Act makes it illegal for banks or financial institutions to allow transactions for online wagering. “There are a minimum seven and possibly upwards of 20 states where at least certain formats of daily fantasy sports seems to be risky”.
Technically speaking, as MSU’s SB Nation blog points out, DraftKings and FanDuel are considered “games of skill” and not necessarily gambling, which is why Luck had to clarify the NCAA’s stance. “We are a U.S.-based skill games company and all of our contests are operated 100 percent legally under United States and Canadian law”, DraftKings states on its website. Of course, it’s not like players in professional leagues are profiting off these leagues either – though I believe they should be, as using players’ names and likenesses gives sports gambling a huge advantage over types of gambling involving faceless events.
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What the people of Louisiana – along with Arizona, Iowa, Montana and Washington – are missing out on is an estimated billions of dollars in prize payouts in 2015. Sports wagering is legal in four states, although Nevada is the only state with full-scale race- and sportsbooks. “The next question is whether this is a gambling product is under federal law”, Grove told the Post. Now, companies are pouring millions into getting these apps on every sports fans’ smartphone, and it’s increasingly likely that someone could bet on college football with less than two minutes of effort.
