Regulations For Fantasy Sports Betting Coming

Published Sunday, November 08, 2015 -
Regulations For Fantasy Sports Betting Coming

Daily fantasy sports betting in the USA has once again gained media attention as the operators of the activity revealed that entry fees had fallen for the third consecutive week as two more states announced efforts to create regulations for fantasy sports betting.  FanDuel, one of the top DFS operators, CEO Nigel Eccles says that the 13% decline in participation since the site’s peak date on October 11th was related to a seasonal phenomenon. . Across all their NFL guaranteed prize pools, FanDuel took in $18.3 million, down from $19.1 million in Week 7 and from $20.6 million in Week 5. DraftKings on the other hand took in just over $21.5 million in entry fees, down from $22.7 million in Week 7 and from $25m in Week 5.

FanDuel has recentlyannounced another drop in the guarantee for its marquee NFL contest. The Week 9 Sunday Million will now feature a $3m guarantee and for now the DraftKings’ Millionaire Maker will continue to offer $1million to the winner and $6m overall.

Yahoo another DFS operator saw entry fees decline from $1.16m to $1m as the number of entries hit 147k, an all-time low, even though the site had experienced some technical problems prior to Sunday’s 1pm kickoff.

Meanwhile on the regulatory front New York state assemblyman Felix Ortiz has called for action which would put DFS under the oversight of the New York state gaming commission. The proposal which has been referred to the Committee on Racing and Wagering, would add the phrase “fantasy sports gaming” to the state’s legal gambling activities list.  Ortiz has revealed that the DraftKings’ data leak has raised  questions about “the transparency, fairness and security of the fantasy sports companies’ data about their rosters.” Ortiz commented that it would be, “appropriate to put added consumer protections in place” by bringing DFS under the gaming commission’s jurisdiction.




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