Fantasy Gambling?

[Wesley]

http://www.businessweek.com/article...d-of-risk-free-gamblers-daily-fantasy#r=lr-sr

FanDuel doesn’t even bother monitoring for unusual activity, because there is nothing to look for. “With fantasy sports you are only looking for players to do better than expected,â€￾ writes Eccles. “That isn’t really something that can be rigged.â€￾
The genius of daily fantasy is that it functions like gambling for its players, but not for potential match fixers. For leagues, this means they can reap the benefits that come from sports gambling—nothing makes a dull game interesting like money on the line—without the associated risks.

 

[cyclonebillski]

I've never really been sure how those one week fantasy football leagues for money are actually legal. I would assume their days are numbered

 

[johnstoncy]

I've never really been sure how those one week fantasy football leagues for money are actually legal. I would assume their days are numbered

From the story:

"When the federal government carved out an exception for fantasy sports in the Unlawful Internet Gambling Enforcement Act, the 2006 law that banned electronically processing payments for sports bets, it defined fantasy as contests determined by the accumulated statistics of multiple real world players in multiple real world games. Fantasy games can’t be based on team wins or losses or final scores, and they can’t be based on a single athlete’s performance."

Right now they are legal (except in a handful of states including Iowa) but you can bet at some point some state AG's or the Feds will get involved and want their cut or threaten to remove the exception.

 

[cyclonebillski]

Yup there are millions and millions at stake. Govt will want a cut eventually.

 

[Tedcyclone]

Yup there are millions and millions at stake. Govt will want a cut eventually.

Govt can suck it. Govt can't make it illegal from my knowledge which I admit is very limited. Wouldn't it need voted on? If so then the biggest $$$ wins. And that is not the Govt. Otherwise why would they still make it legal in Vegas? Because Vegas was in before it was illegal and pays MILLIONS to keep it that way. So much so that Wynn is trying to stop Jersey from getting the rights to sports gambling so he can keep the market.