Daily Fantasy Sports
The concept of the daily fantasy sports game is relatively new. It takes the traditional fantasy sports model and compresses it into a daily, and sometimes weekly, game.
History
Daily fantasy sports is a new niche in the fantasy sports industry. Like traditional fantasy sports, players draft a team of real world athletes who then score fantasy points according to set scoring rules. However instead of being stuck with the same team through a whole season, daily fantasy sports contests last just one day (or in the case of NFL or NASCAR, one weekend). Daily fantasy sports is quicker and more numbers-driven. Daily fantasy sports websites do not compete for the same players as traditional sports games, but instead market themselves as complimenting traditional fantasy sports.[1]
Legality
The legality of daily fantasy sports games is the same as that of season long fantasy sports. In most US states fantasy sports (including daily fantasy sports) is generally considered a game of skill and therefore not considered gambling. However, some states, such as Arizona, Maryland, Montana, Louisiana, Iowa and Vermont, either use a more restrictive test of whether a game is one of skill or have specific laws outlawing paid fantasy sports.
At a Federal level fantasy sports is defined and exempted by the Unlawful Internet Gambling Enforcement Act of 2006 (UIGEA). The bill specifically exempts fantasy sports games, educational games, or any online contest that "has an outcome that reflects the relative knowledge of the participants, or their skill at physical reaction or physical manipulation (but not chance), and, in the case of a fantasy or simulation sports game, has an outcome that is determined predominantly by accumulated statistical results of sporting events, including any non-participant's individual performances in such sporting events..."[2]
However, all prizing must be determined in advance of the competition and can not be influenced by the fees or number of participants. To be compliant fantasy sports must follow the rule that: "prizes and awards offered to winning participants are established and made known to the participants in advance of the game or contest and their value is not determined by the number of participants or the amount of any fees paid by those participants." [3]
The formal definition of fantasy sports within UIGEA stipulates that the outcome of a fantasy game must be dependent on multiple sports events but explicitly does not define the period over which the game must be played. The enactment of UIGEA gave the first legal definition of fantasy sports with which operators could then develop games around. This resulted in the emergence of daily fantasy games which first appeared in late 2007.
References
- ^ DiFino, Nando (2010-03-05). "Everyday Fantasies". Wall Street Journal. Retrieved 2010-11-22.
- ^ Longley, Robert (2006-08-22). "Fantasy Sports Not Gambling, Bill Declares". About.com. Retrieved 2007-11-01.
- ^ "H.R. 4954: Security and Accountability For Every Port Act of 2006’’". Retrieved 2010-06-03.
This article is licensed under the GNU Free Documentation License. It uses material from the Wikipedia.
Legality of sports betting
In the USA, the Professional and Amateur Sports Protection Act of 1992 makes it illegal to operate a scheme except for in a few states. In many European nations bookmaking (the profession of accepting sports wagers) is regulated but not criminalized. The NCAA has threatened to ban all playoff games in Delaware if the state allows betting on college sports.[1] New Jersey, which is also interested, has been similarly threatened. [2] Proponents of legalized sports betting generally regard it as a hobby for sports fans that increases their interest in particular sporting events, thus benefiting the leagues, teams and players they bet on through higher attendances and television audiences. Opponents fear that, over and above the general ramifications of gambling, it threatens the integrity of amateur and professional sport, the history of which includes numerous attempts by sports gamblers to fix matches, although proponents counter that legitimate bookmakers will invariably fight corruption just as fiercely as governing bodies and law enforcement do. Most sports bettors are overall losers as the bookmakers odds are fairly efficient. However, there are professional sports bettors that make a good income betting sports, many of which utilize sports information services.
In areas where sports betting is illegal, bettors usually make their sports wagers with illicit bookmakers (known colloquially as "bookies") and on the Internet, where thousands of online bookmakers accept wagers on sporting events around the world.
Notes
This article is licensed under the GNU Free Documentation License. It uses material from the Wikipedia.
Legality of the bookmakers
Bookmaking may be legal or illegal, and may be regulated; in the United Kingdom it was at times both regulated and illegal, in that licences were required but no debts arising from gambling could be enforced through the courts. Now, since the inception of the National Lottery, not only is it completely legal in the UK, it is a small contributor to the British economy, with a recent explosion of interest with regard to the international gaming sector industry. However, gambling debts still remain unenforceable under English law.
Bookmaking is generally illegal in the United States, with Nevada being a notable exception.
In some countries, such as Singapore, Sweden, Canada and Hong Kong, the only legal bookmaker is state-owned and operated. In Canada, this is part of the lottery program and is known as Sport Select.
In the United Kingdom, trusted legal bookmakers are members of IBAS, which is an industry standard organization which resolves to settle
This article is licensed under the GNU Free Documentation License. It uses material from the Wikipedia.
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