More Gaming Operators And States Should Use Fantasy Sports Laws As A Tool To Advance Sports Betting


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fantasy sports tool for sports betting

[toc]No one has fully realized the potential that daily fantasy sports laws have opened up.

Is that starting to change?

DFS vs. sports betting

So far, 12 states have passed laws that in some way legalize and/or regulate paid-entry fantasy sports. And more or are likely on the way.

At the same time, there are several avenues for online sports betting to become legal in the US. Those include:

Those options all are fraught with problems — both on their possible success and drawn-out timeframes.

What we have in front of us immediately is fantasy sports laws. They often contain relatively vague language on what is allowed. Exploiting that language is one of the fastest ways in which states and gaming operators can advance the cause of legal sports betting in the US.

The roadmap for using DFS

The possibility of using DFS to push forward on sports betting has been in play for some time. The problem is that it hasn’t been leveraged to any great degree.

We recently laid out the general roadmap to increased legal US sports betting — which piggybacks on fantasy sports — here. We’ve also put forward more specific methods for using the idea of paid-entry fantasy sports and laws about the industry to create products that are more like sports betting.

I’ve offered how New Jersey should pivot to this method in its attempts to find ways to offer legal sports betting. This is coming to fruition, to some degree, with a product called FastPick being rolled out in Atlantic City.

Quite simply, any casino or gaming operator that registers or gets a license in a state that has passed a fantasy sports law could theoretically use this path. We’ve laid out the the types of bets that fantasy sports laws authorize here and here.

About the only limiting factors under fantasy sports laws? Performances of athletes must be involved in bets/contests offered, and the wager/contest can’t be based on the outcome of a single game.

Beyond that, the only limits are one’s imagination on how to construct bets and contests based on athlete performance.

What’s next in the short term?

The movement of using fantasy sports to get closer to sports betting can happen on several fronts:

The bottom line: Interests who want legal sports betting to happen in the US should start using fantasy sports laws to their benefit.



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