“If you look at what the law says today, it is very clearly within that,” DraftKings CEO Jason Robins said during an interview in his office this winter. “So the law would have to change.
He’s like every other CEO out there. If it borders on legal & illegal then I can exploit it. That’s why corporations are people, we have monopolies and our elected officials do nothing but get rich. One day the bill is going to come due though. Just like it did with the housing market. Yes the ad’s are annoying and redundant. But the whole reason this exist in to first place is because professional sports are protested by law and antitrust. There’s big money to be made and the NFL,NBA & MLB are going for it.
It is interesting how much in bed the NFL is with Draft Kings. Pretty soon they will have a logo on every jersey.
It’s not gambling in the same way that your regular fantasy league shouldn’t be considered gambling. It is a game of skill, that requires research and knowledge. And you’re not betting against the house, merely other players who are also entering and know their risks. The websites simply provide a channel for a large amount of people to play and take a cut for doing so.
And for those who win over a couple hundred dollars a year, you have to file a 1099. This NJ rep is just sore that his state can’t legalize sports gambling – which should be legalized and regulated everywhere like it is in the UK.
A ranking member of the Energy and Commerce requested a hearing about the relationship of fantasy sports to gambling, potentially the initial step in what is believed to be the first direct legal challenge to the exploding daily fantasy sports industry.
Rep. Frank Pallone (D-NJ) requested the hearing in the governing body that oversees professional sports and gambling Monday afternoon. He wants to scrutinize the difference in gambling on sports and playing fantasy and to examine the close ties between sports leagues and teams and the fantasy industry, including daily fantasy titans DraftKings and FanDuel.