Fantasy Sports in the Crosshairs of Washington LawmakersPublished October 17, 2015 by Florin P
The State of Washington contemplates the possibility of regulating real-money daily fantasy sports
Online gambling is prohibited in the United States, but a couple of states have made significant steps to legalize this activity. The fantasy sports industry is growing at an accelerated pace, with many fans already placing lucrative bets on real money. The trend has gained momentum and a couple of states have already adhered to this innovative type of wagering, while others are yet to decide what to do next.
Olympia to Hold a Hearing in December
The senators are preparing for a hearing that could decide whether virtual sports will be legalized in the state of Washington. Fantasy sports are immensely popular from coast to coast and have plenty of fans on the other side of the Atlantic. Major bookmakers offer virtual sports that bear many similarities and even industry leaders such as bet365 Sports have jumped on the bandwagon.
The odds are competitive and players who have a real money account enjoy the same potential return on investment as if they were betting on actual fixtures. Americans might need to wait a bit longer until online gambling will be legalized nationwide, but the hearing in Olympia could bring them one step closer. Lawmakers will discuss this matter a few weeks from now and Sen. Pam Roach is optimistic about the chances for a fantasy sports bill to pass.
Season-Long Leagues Could Become legal
Even the most optimistic promoters of the bill are aware of the fact that the odds of making daily fantasy sports sites legal will require time and patience. That’s why the immediate goal is to make the leagues legal and then built on this milestone and pass more ambitious legislation.
At least in theory, poker players and those who gamble over the Internet are breaking the law and risk arrest, but the law is not enforced. There are states such as Massachusetts, California, Nevada, Michigan and Florida were daily fantasy sports are immensely popular and the industry could generate hundreds of millions of dollars.