Casino Watch Focus has reported on the new trend of real money betting on fantasy sports. Not what some might view as a few harmless dollars among friends over an entire season, but large scale, daily fantasy games. A recent lawsuit seeks an answer to whether or not short term, daily rosters is gambling instead of a game of skill that spans over a full season. This type of betting is clear establishing itself as a gambling avenue that might now have the major sports leagues going against their long time position of no gambling on their respective sport. An online source outlines the longstanding sentiments of the leagues:
Bud Selig once tried to warn the world about what would happen if legalized sports gambling spread to more states.
Instead of cheering for their favorite teams, the baseball commissioner predicted, fans would be more inclined to cheer for themselves to win money — a factor he said would harm his sport’s character.
“Players would not be viewed by fans as exceptionally skilled and talented competitors but as mere assets to be exploited for ‘fast money,'” Selig wrote in a statement submitted in federal court in 2012.
Now it appears that Major League Baseball and other sports leagues are taking a new hypocritical stance and partnering with these new gambling fantasy leagues. The New Star online continues:
Two years [after MLB Commissioner Selig’s initial statement], Major League Baseball is singing a drastically different tune — and so are the NFL, NBA and NHL.
After all four leagues issued similar warnings in 2012, each sport is partnered up with two start-up companies whose business model relies on fans trying to make fast money every day based on player performance in games.
It’s called daily fantasy sports. It’s legal in almost every state. And its popularity is starting to soar, especially among young adult males.
Casino Watch Focus recently reported that new NBA Commissioner Adam Silver came out in favor of expanded sports betting and even worked against New Jersey’s expansion so the focus could be on wide spread federal adaption. The New Star online points out that the Commissioner has signed a similar deal with FanDuel and there are serious repercussions:
In November, the NBA announced it had become an equity investor in FanDuel, a daily sports fantasy site that says it pays out $10 million in weekly cash prizes. A day after the NBA’s FanDuel announcement,
NBA Commissioner Adam Silver advocated for legalized sports betting in an editorial in The New York Times. Critics say daily fantasy could drain bank accounts from poor or middle-class “fish” to fund the jackpot that goes to the winning “sharks.” Bernal, the gambling critic, notes many of the most successful sharks are experts with backgrounds in data-driven fields such as online poker. Some make six-figure livings off these games, while the companies keep about 10 percent of the pot.
“Better names for these fleecing operations are Rip-off Kings and ScamDuel,” Bernal said. “The only way the daily fantasy sports model works is by attracting poor players, the fish, to feed the good ones, the sharks.”
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