Fantasy Sport or Online Gambling?
Following the government crackdown on online gambling in the states more players turned to fantasy websites as a legal way of playing the odds.
Fantasy websites allow users to bet on the performance of professional sportsmen on a daily basis, furthermore, they have been protected by federal law from restrictions on online gambling.
However, the distinction between fantasy sports and gambling is currently being challenged in federal courtrooms in Illinois and New Jersey. The chief Executive of Major League Baseball Advanced Media, Robert Bowman, said that “it becomes akin to a flip of the coin, which is the definition of gambling.”
The internet transformed fantasy sports from something that was season long to taking in just one or two games.
For instance, in “pick five” games, players are shown pairs of players and they then need to bet on who will play better. It is these fast games which are seeing the largest amount of bets placed.
Sites where players can play for real money have proved to be extremely popular. The daily fantasy segment is now in charge of $492 million in annual spending, the whole fantasy industry is now worth $1.6 billion.