Fantasy sports business in Nevada has somehow gone down in the recent years. The gaming industry is avoiding being involved in this kind of sports activity.
It is to be noted that the fantasy sports fans have to pay a considerable fee in order to enter a contest, whether it is season-long or single-day. This in turn, pays out giant cash as cash prizes.
Remarks of Joe Asher
The CEO of a sports book operator, Asher mentions the classic definition of the word ‘gambling’.
He says it is all about putting something of value to get something of huge cash.
Since years, fantasy sports leagues have captivated eyes of many sports book and casino operators.
The major portion of fantasy sports market is controlled by FanDuel and DraftKings. These two websites roughly controls 90% of the market and have a very influencing position.
It is inevitable to consider the marketing efforts of these two companies and the way they have managed everything until date.
According to the reports, it has become clear that Nevada gaming regulators have warned the entire industry to maintain distance.
In the Words of A.G. Burnett
Burnett, Gaming Control Board Chairman mentions that he is not against fantasy sports and has not issued any directive to restrict such games.
The only thing he wants is to request industry to do its homework properly. He adds that all the legal licenses are required to carry out an analysis of the legal consequences of the current disturbances.
These licensees must make an effort to comprehend the legal aspect if they wish to continue in the same field of gambling.
The Chairman expresses that fantasy sports league continue to operate despite different federal laws including the Illegal Gambling Business Act, Unlawful Internet Gambling Enforcement Act, Professional and Amateur Sports Protection Act and the Wire Act.
It is true that sports wagering has been legalised in four states, but it is only Nevada that is equipped with sports books and full-scale races.
A variety of sports books operators provide the facility of wagering from anywhere in the state. Just by sitting in the comforts and luxuries of your home, you can browse through the site and place bets without any hassles.
In addition to this, the system is such that the applications automatically are closed down the moment the mobile device leaves the premises of Nevada.
The leader of fantasy sports says that the federal government does not define this type of sports activity as gambling.
While the Gaming Control Board has still not looked into the legal consequences of fantasy sports. It must be considered legal according to Nevada gaming law.
Further, FanDuel and DraftKings have made it clear that they are considered to be skill-based websites not gambling ones.
All their gaming contests are 100% legal and are based on skills. Due to state specific regulations, Montana, Arizona, Iowa, Washington and Louisiana are not allowed to participate on the website.
The discussions are still going on and the final verdict is yet to be seen!