Illinois lawmakers are considering a bill that would legalize and tax online Fantasy Sports betting.
An Illinois House Committee has approved a bill which would allow websites like FanDuel and DraftKings to legally operate despite objections of the Illinois Gaming board, the gambling industry, and some state lawmakers.
The measure would ban company employees as well as those under the age of 21 from playing Daily Fantasy Sports games for real cash.
Not everybody was on board with the legislation.
It is a well known fact that since the explosion of the internet in the early years of the twenty first century, online casinos have become ever more popular pastimes for millions of people around the world.
ATLANTA - April 13, 2016 - PRLog -- DFSgold Announces DFSgold Player of the Year Presented by Jaybird
Atlanta, Ga. - DFSgold today announced a partnership with premium active lifestyle brand Jaybird as sponsor of the newly launched DFSgold Player of the Year. The DFSgold Player of the Year presented by Jaybird will recognize the year's top daily fantasy sports player.
LAS VEGAS (Courthouse News) - Tech companies claim DraftKings' and FanDuel's fantasy sports betting sites violate seven patents, and sued the companies in separate federal complaints.
JEFFERSON CITY, Mo. (Associated Press) - Fantasy sports could continue in Missouri without facing gambling regulations under a bill advancing in the state Legislature.
House members voted 104-38 Thursday to pass the measure and send it to the Senate.
Daily fantasy sports sites would need to pay an annual $5,000 registration fee and would face some additional restrictions, including prohibiting employees from playing. Only those 18 and older could participate.
The sites wouldn’t be subject to the state’s gambling laws.
The fantasy sports betting market has exploded. As we have seen from the massive expansion and rise of Fanduel and Draftkings. We have also started to see a contraction as more and more states are clamping down and questioning their legality as some try to frame it as “Daily Wagering” and others are trying to frame it as a “Game of skill”.
NASHVILLE, Tenn. (Associated Press) – Tennessee’s attorney general has called fantasy sports contests illegal gambling.
Attorney General Herbert Slatery wrote a formal opinion that said fantasy sports betting violates state laws against gambling because participants pay an entry fee to win a prize and a portion of that fee goes to a pot where wins are paid out.
Over the last decade, fantasy sport games have been on the rise. In fact, there are now fantasy games available for most sports, including football, soccer and basketball. Some of these games are daily, some are weekly and some are yearly but they all have one thing in common - competitive play. Everybody wants to win fantasy sports games. And this is one of the key similarities between fantasy sport games and general slots that you find in a casino - everybody wants to win.
Indiana Pacers center Ian Mahinmi is in an excellent position Thursday going up against a Magic team that ranks at the bottom versus opposing centers.
Mahinmi, priced at just $4.9K, turned out a fantastic performance Monday versus the Bulls.
18 blocks, 7 rebounds, 2 blocks and an assist translated into just over 30 fantasy points. He only needed around 25 to make value.
Now if he can perform this well against the Bulls, just imagine what Mahinmi can do versus the struggling Magic.
- Brian Stern, DFS911.com
NEW YORK —(Associated Press) - Smaller companies in the exploding fantasy sports industry say they could be shut out of doing business in some states by legislation that is actually intended to recognize the games’ legality.
Dallas point guard Deron Williams and power forward Dirk Nowitzki are expected to be out both Sunday and Monday, leading to a boost in value for a number of players whose salaries will likely stay relatively stable.
J.J. Barea is the obvious player to target first in these games, having just scored 21 points with five triples the other night against Golden State. More importantly Barea is priced at $4.3K. He was going up against a fantasy-friendly Kings team Sunday.
Dallas point guard Deron Williams has been ruled out for Sunday’s game against the fantasy-friendly Kings. Williams is expected to miss both Sunday and Monday's game.
J.J. Barea should start in his place with a price tag of $4.3K. Raymond Felton and Devin Harris should also see an increase in their value as a result.
Barea scored 21 points with five triples the other night against Golden State.
David Lee ($5000 at DraftKings) will start for Dirk Nowitzki Sunday.
- Brian Stern, DFS911.com
The Oklahoma Thunder’s Russell Westbrook needs only three more triple-doubles in order to break the record of Magic Johnson.
He had his 15th triple-double of the season in the Thunder’s Tuesday night win over Houston: 11-11-13. This ties Michael Jordan's 15 in 1988-89, two off of Magic Johnson's record.
The Daily Fantasy NBA juggernaut Westbrook is averaging 23.7 and 10.5 every game. Rebounds are the bigger issue, and he's grabbing 7.7 per game.
Westbrook’s current salary as of March 23, 2016 at both DraftKings and FanDuel was coming in at $10600.
Fans of fantasy sports betting can hardly have missed the biggest news to rock the industry in a long time: the legislations proposed by at least 30 US states to regulate -or in some cases place an outright ban on- the activity.
DFS911.com has your NBA Daily Fantasy Hot Players breakdown. Who are the current top DFS players in the NBA? Prices used are from DraftKings.
Paul George – Indiana Pacers - $8600 - Over his last ten games, George is averaging an impressive 43 fantasy points in 36 minutes per game. Play him versus teams that rank poor against small forwards. This included Monday night’s game versus the 76ers where he didn’t quite reach that 43 fantasy points average.
NEW YORK (Associated Press) — The nation’s top two daily fantasy sports websites have agreed to stop operating in New York through the end of baseball season.
New York Attorney General Eric Schneiderman announced the deal with DraftKings and FanDuel on Monday. In a statement, he said:
Have you ever noticed how the same DFS players consistently win? Anyone who plays daily fantasy can certainly attest to the fact that it is indeed a game of skill.
As Gambling911.com noted last week, the Fantasy Sports sector has expressed deep concern over a $50,000 licensing fee that few of the companies in the sector can afford.
While the Fantasy Sports Trade Association promises to try and get this fee reduced, some have speculated that the FSTA is working against their best interests, especially the season long sites.
HOUSTON — (Reuters) - Texas reached a deal with fantasy sports firm FanDuel by which it will halt paid operations on May 2, the state’s top prosecutor said on Friday, two months after saying such online operations are illegal gambling.
FanDuel will continue to operate its free games in Texas, but will stop accepting paid contest entries on May 2. In return, the prosecutor agreed not to take any legal action against FanDuel over its contests.
BOSTON — (Associated Press) - The daily fantasy sports debate has spilled into state capitols nationwide, with nearly 30 legislatures considering proposals to regulate, ban or affirm the games played by millions of Americans.
The flurry of recent legislative activity represents a sea change for the industry, which for years was content to operate largely unregulated.
Illinois State Rep. Michael Zalewski is sponsoring legislation in the state that would exempt fantasy sports from state gambling laws according to Northern Public Radio. It would also characterize Daily Fantasy Sports as a game of skill.
He said it would help small businesses like SideLeague, a fantasy sports company based in Illinois that current doesn't offer games in the state right now.
A Boston Globe report on Saturday suggests that Daily Fantasy Sports juggernaut DraftKings has only raised $70 million in recent months, describing this as “a sharp drop from the company’s previous investment rounds as it fights regulatory battles across the country”.
In an effort to capitalize on the explosive Daily Fantasy Sports industry, California Tribes are seeking answers to legal questions surrounding the activity.
“The Internet looms large in the future of gaming, therefore our future,” CNIGA Chairman Steve Stallings told delegates to the association’s annual meeting at Harrah’s Resort Southern California near Valley Center.
FanDuel CFO Matt King told PBS’ “Frontlines” that his company and Daily Fantasy Sports is not gambling but rather entertainment. He also upset some in the poker community by claiming that poker is not a game of skill but is indeed a form of gambling.