Are Fantasy Sports Doomed?

Fantasy Sports are as popular as ever and fans of the many different leagues are curious what will come of the pass-time now that legislature which could ban online gambling could be passed in the US. Though the legislature is said to only affect online slots, poker, blackjack, etc. The fantasy sports industry has hired lobbyists to ensure this is in fact the case.

Future of Fantasy Sports

The well-known law firm Dentons has been hired by the Fantasy Sports Trade Association to offer insight on issues that may affect the fantasy sports industry and legislation related to gaming." The new bill was proposed by Rep. Jason Chaffetz (R-Utah) and Sen. Lindsey Graham (R-S.C.) which seeks to ultimately ban online gaming but with NJ and NV already approving web-based gambling, it looks as though more states will follow suit soon.

Fantasy sports would be unaffected due to the nature of the game as it does not officially reward money for winning. The Trade Association related, “Fantasy sports leagues are games of skill. Managers must take into account a myriad of statistics, facts and game theory in order to be competitive,” the organization said on its website. Fantasy sports players are motivated to enter the hobby for reasons that have nothing to do with money or prizes.

Effect on Online Sports Betting Markets

Online punters (sports bettors) would also be affected by the bill as online sportsbooks are also in the cross-hairs. Online sports gambling is a huge industry with online sportsbooks and other online gambling platforms offer wagering markets for literally every professional sport being played. They even offer Reality TV, politics and even wild markets on the daily weather.

Many land-based casino owners and managers have been quick to support the new bill including casino magnate and philanthropist Sheldon Adelson who has already hired a number of firms to support the bill as he thinks it would damage land-based profits.