“The only way to ensure the integrity of these companies is to introduce proper, independent, well-resourced regulation, as well as government legislation, that is passed at a national level”, Eaton said.
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Like to wager on daily fantasy sports? Sounds enticing, right? But there is a fine line between gambling and fantasy sports.
In 2006, that line was clearly defined for the first time, or so Congress thought.
Pallone is also the ranking Democrat on a congressional committee that will likely soon hold hearings on the legality of the daily fantasy sports industry.
– The State Senate president is considering a ban on fantasy sports websites, like Fan Duel and Draft Kings, saying they may constitute illegal gambling under state law.
Dan Cypra at Pocketfives unearthed the news that DraftKings advertising has been removed from WSOP.com’s Twitch channel in favour of PlayWSOP.com advertising, although the DFS site continues to run qualifiers for the upcoming World Poker Tour (WPT) Montreal festival.
Burnett says his friends told him about DraftKings. This is allowed, because both websites are considered “games of skill” instead of “games of chance”, and are exempt from the 1992 Professional and Amateur Sports Protection Act, which made sports betting illegal outside of Las Vegas. My Dad is great at fantasy football. He pays attention to the so-called “experts” and implements strategies into the way he plays.
“I have asked staff to kind of start the process of researching as much as we possibly can”, Gardiner, R-Orlando, told The News Service of Florida on Wednesday.
I had never considered putting money into fantasy sports until the “no season-long commitment” pitch I saw on one of the commercials persuaded me. I really support DraftKings. It takes an extreme amount of commitment to be good at fantasy baseball. Commitment I did not intend to have over the course of my summer.
FanDuel and DraftKings have spent millions on advertising on television, social media, billboards, and other places. “The casino industry has struggled to grow in recent years, but that doesn’t give them the right to stymie the innovation that is coming out of successful young companies like FanDuel”. Mr. Haskell won $350,000 playing in a top contest on FanDuel that same week.
According to the Wall Street Journal, both DraftKings and FanDuel were investigated internally. But this got me thinking. If growing fears of a similar impending action cause players to pull their money from the sites – and investors to do the same – the fantasy sports bubble may be quick to burst.
By the way, how ironic is that Gardiner, the defender of all things family-friendly, is now doing the handiwork of the Nevada gambling interests who view the daily sports fantasy companies as a direct threat to their business?. A few at the time dismissed this as nothing serious, simply sour grapes for not being able to secure legalized sports gambling in the Garden State as exists in Nevada.
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But gambling regulators in Nevada last week ordered companies like FanDuel and DraftKings to stop operating in the state after determining that online players’ activity “involves wagering on the collective performance of individuals participating in sporting events”.
