Posts Tagged "fantasy betting"

Fantasy sport regulation called in by a Mexican group

Fantasy sport regulation called in by a Mexican group

Calls from the New Mexico Council on Problem Gambling have requested for the closure of fantasy sports sites like FanDuel and DraftKings. The group claimed that there are online operational licenses that the two firms have to acquire for the group to end the protest. The executive director of the group Kandice Blanchard was the first to commend the eradication of fantasy sports in Nevada while group’s therapist Dr. John Rinaldi claimed that the two sites have to get a betting license since they resembles any other betting sport such as horse racing.

Rinaldi claimed that the outcome of a horse race depends heavily on the bettor’s research and knowledge on his horse. It also relies on the previous performance in past events. The two are fundamental in winning or losing. The same case applies to fantasy betting where skill is used and this brings no difference with horse racing. Hence, fantasy sports can be classified as any other form of betting.

He continued to claim that despite it being new in the market, fantasy sport like any other betting is also very addictive. Clients may not be attracted to it that much at this period but with time, the addictive outcome will be evident.

A number of States with New Mexico included have yet to classify fantasy sports as betting since there was a law which was passed by the Congress in 2006. This Unlawful Internet Gambling Enforcement Act has provided a shadow to hide in to FanDuel and DraftKings as they argue the game is based on personal skills unlike kismet.

JD Oltman in Las Cruces told KFOX14 that fantasy sports can incorporate both luck and skills. One has to have analyzed information on a player intended to select as well as the historical background of the team they are playing against.

This was the exact point that was brought forward by Kyng Diego who said that a win is only guaranteed to the person who undertakes a thorough research on the players playing on a particular day.

Rinaldi has faith in the review of the matter by lawmakers who are to converge in winter. On the other hand, the New Mexico Problem Gambling will accord assistance to betting addicts.

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Investigation on fantasy sports betting conducted in Delaware

Investigation on fantasy sports betting conducted in Delaware

Reports from the Finance Department in Delaware have claimed that the state officials are to undertake a thorough investigation on the eligibility and legality of fantasy sports betting DraftKings and FanDuel. This comes days after Nevada classified daily fantasy sports operations under gambling with an immediate banning following until the sites acquire a gambling license. The sites have been advertised frequently on TVs and a client only pays an entrance fee with a possible win of more than $1 million in cash.

Delaware Finance Secretary Tom Cook claimed that they have been on toes with events that are unfolding onfantasy sport betting and with the ban imposed on them by Nevada, Delaware had to go deeper in verifying the reason behind the existence of fantasy betting in the state.

The ban on the sports in Nevada follows the entrance of employees to these sites and this indicated a higher possibility of match fixing and other irregularities of the sport. Nonetheless, fantasy sport industry have claimed to have introduced the sport based on skill not chance and this is allowed according to the 2006 Unlawful Internet Gambling Enforcement Act.

According to Daniel Wallach, a sports law expert based in Florida, the step initiated by gaming control board of Nevada will not get rid of fantasy sports betting in the State for good, but at least it has shown its capability and played its role in regulation of illegal sports betting in the state. He claimed that it has been evident that fantasy is typical to gambling and this would call for operational license just like all other sports betting and gambling sites have.

This coming week, the House of Representatives will undertake a voting process on whether to minimize daily fantasy sports websites in Pennsylvania which are played in the 12 casinos based in the state. It was claimed that FanDuel and DraftKings had recruited ananteroom firm in Pennsylvania. Nonetheless, the two firms have claimed that this is not real betting unlike many state heads sees it. The State Public Integrity Commission has claimed that the two firms who have retained their lobbying business in Delaware since 2002, have not spent not even a coin in lobbying businesses.

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Final Contenders of the LaunchPad Announced by EiG 2015

Final Contenders of the LaunchPad Announced by EiG 2015

The 8th EiG Start-up LaunchPad competition is set for the 22nd day o November at the Arena Berlin and will incorporate subjugated tendencies in sports trading technology, anti-fraud, casual gaming as well as eSports.

This event is held two times every year in the Clarion flagship events; EiG in Berlin and the GiGse in San Francisco attracts the participation of prominent firms such as the Imperus Technologies (buyer of Diwip and Akamon), NumberFire (acquired recently by FanDuel), BlueBat Games (acquired by Novomatic) and Element Wave (now an established mobile solutions provider).

The event is organized by an association with the GamCrowd and since its initiation it has included a panel of judges from the iGaming segment. Among them includes; Evan Hoff from Velo Partners, Ian Hogg from GamCrowd and Mark Blandford from Burlywood Capital. Moreover, of late it has included investors from various global firms such as Revenue Engineers, Found Fair Ventures and Partech Ventures who together forms the questioning group to the attendees of the competition.

The final list of the participant to the event who would be in search of a glorious award winning are; Dupzadder a company that specializes in perceiving fraud among clients who may have several identities or accounts, Stratagem Technologies a company that eyes pro traders as well as investors in opening up sport trading value, eSportsPolls.com (ESP) the creator of tedbets.com which gives clients a resourceful analysis of fantasy league games, Casino VR a multi casino stage that encompasses several games and knowledge and Skillzzgaming a new platform in real money betting that gives clients time to play in their passionate games.

The selection criteria involves through examination on various global firms that submitted their applications between April and August. The selecting team comprising of chair Melissa Blau from iGaming Capital, Clarion’s Ewa Bakun, and Chris North from GamCrowd claimed that the selection criteria has been so stressing provided that all the applicants had qualified with flying colors and this formed a hard decision in choosing and leaving others. Nonetheless, the three selecting panelist were able to come up with five main contenders for the main prize. They claimed that it was their hope that the winner of this year’s event would have a greater future ahead.

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Fantasy sports betting in Hawaii to be inspected

Fantasy sports betting in Hawaii to be inspected

According to the speaker of the house Joe Souki, Fantasy leagues are form of gambling in that a player has to put in some cash and has a possible risk of losing the cash. He adds that the clarification of fantasy betting should be clarified by the lawmakers who have up to January when they convene to do so. Souki adds that with clear explanation on fantasy league, the participants have the freedom of doing their routine without any fear of being accused by others. When the house resumes, he would try to have a chat with the House leadership on the matter.

The initiation of the one day fantasy sports betting has been evident lately and many clients have signed in websites such as FanDuel.com and DraftKings.com for a taste of it. Moreover, these two firms have spent more than $31 million in advertising their services on TV.

Executive director of StopPredatoryGambling.org, Les Bernal claims that daily fantasy betting forms a base for everyday excitement whereas the seasonal fantasy sport betting is mainly played between workmates or friends.

The 2006 Unlawful Internet Gambling Enforcement Act claims that online poker games are unlawful but fantasy leagues were exempted. It was argued that in fantasy leagues, it is the player’s skill that that wins cash rather than basic luck. Nonetheless, opponents of this have called for mass action by the lawmakers on the subject.

Hawaii Attorney General Doug Chin has not made any comment on the matter and according to spokesperson Josh Wisch claiming that nothing has taken part in the AG’s office and hence it is not clear if the topic will be discussed in a near future.

There are several states among them Montana, Washington, Louisiana, Iowa as well as Arizona which have given fantasy leagues a go ahead. These states argue that fantasy league is based on opportunities but not skills.

However, Souki was adamant and claimed that he is not going to issue a notice to stop the fantasy league advertisements in TV as he claims that there are worse things such as cigarettes being advertised on the TV which are more dangerous than fantasy leagues.

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New Jersey’s Appeal rejected by court on sports betting

New Jersey’s Appeal rejected by court on sports betting

The appeal tabled at the Federal appeal court by the US pro sports betting advocates have hit a hard rock as the jury decided not to the uplifting of the sports betting to be held in New Jersey. Us pro advocates rushed to the Third Court of Appeals in Philadelphia with the aim of having a ruling in their favour but were shocked as the court ruling was backed by 2-1 and in turn giving no chance to the State in trying to circumvent the 1992 Professional & Amateur Sports Protection Act (PASPA).

This appeal by the New Jersey State has been in progress for nearly a year now. And down the line, the state has faced yet another hit in attempt to give a comprehensive continuity of sport betting in USA. It was the decision of Third Court Judges Marjorie Rendell and Maryanne Trump Barry who made their verdict in favour of US Pro League members and hence giving legalization of sports betting in New Jersey a huge blow.

According to the US Pro League representatives from various leagues such as NFL, MLB and NHL, the verdict undertaken by the Third Court was crucial inthe upholding of the honesty portrayed by various sporting games in the USA.

However, all was not done as the Democratic Senator of New Jersey Ray Lesniak claimed that the representatives of this state will not give up and will continue waging the fight for what they think is their right of eradicating the PASPA verdicts.

Commenting on the issue to US news sources, the senator claimed that there will be three games for the NFL to be staged in Wembley Stadium in London where their fans will bet and watch the games. He claimed that their main agenda would be controlling as well as running betting via fantasy sports.

The president of the American Gaming association Geoff Freeman claimed that he would support Lesniak by claiming that they deserve to take full control of betting as the law is not keen with regulation of illegal betting with current statistics indicating that there are over $140 billion indulged in illegal betting.

From here, New Jersey will head for another appeal at the full court.

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