Since they were first introduced to the mass public watching sports, daily fantasy sports betting companies like FanDuel and DraftKings have been capturing the minds of consumers and the attention of lawmakers. Betting has had a tenuous relationship with all forms of government (local, state, federal) and legislators for a long time and the laws regarding it are confusing and change depending on where you are. Daily fantasy sports leagues just add another layer of confusion to the mess simply because of how popular they are. Millions of people across the country watch sports, play in fantasy sports leagues, and engage in some sort of betting or another, whether from company pools to the websites and apps in question.
Unlike many states that are considering outlawing companies like DraftKings and FanDuel do to gambling restrictions, two Florida legislators is looking to do something a little bit different. Instead of outright banning the practice and the companies that facilitate these practices, they want to introduce laws that will regulate the practice and introduce consumer protections laws so that people don’t get taken advantage of and harmed financially. Republican state Senator Joe Negron and Representative Matt Gaetz are pushing for the law because they believe that people engaging in daily fantasy sports betting don’t deserve to be criminalized and penalized by the law.
That being said, they are also fully aware of just how these sorts of fantasy apps work. Most of the money is won by a very small percentage who do nothing but study statistics and turn fantasy sports betting into a full-time job of sorts. Seeing as almost everyone using these apps are simply doing so casually and for fun, they run the very real risk of being swindled out of their money. Companies like DraftKings and FanDuel have been hiring lawyers and lobbyists in states across the country once they got wind that legislation (both for them and against them) in an attempt to sway people to their sides and if what’s happening is an example, it seems as though this strategy might be working.
If you’d like to read more, the link is here.
from Derek Byrd’s Law Blog Derek Byrd’s Latest Law Blog Post http://ift.tt/1lm5WT2