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Fantasy Sports

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Fantasy Sports
You 1

Daniel You

Professor Brewington

MEDIA 01 (Section 3602)

February 1, 2015

Fantasy Sports v. Odds

In 2001, Daniel Okrent, a former New York Times newspaper editor went on record how he no longer plays the popular game that he created: Fantasy Baseball. Mr. Okrent told USA Today writer Chris Colston that he no longer miss the game, a cultural movement and today a multi-billion dollar industry that has evolved into something far greater than what he ever anticipated it to be back in 1980s. The basic rule of the game is similar to that of fantasy games that are being offered today; create a mock or a virtual team based on sports, fill in your team with professional players that you’ll probably never meet in your life that can get …show more content…
Initially, the Unlawful Internet Gambling Enforcement Act of 2006 was a federal legislative change that deemed fantasy sports illegal activity in United States. This particular law bans online gambling, not gaming, such as online poker or online casino. Fantasy sports, unlike online gambling sites, had to be thoroughly inspected and lawmakers were not sure if fantasy sports fit the scope of online gambling. Upon further review, it was determined that fantasy sports were a game of ‘skill’ and not a game of ‘chance.’ The reason why we are able to legally play the fantasy games is because of the following distinctions made under the Unlawful Internet Gambling Enforcement Act. They …show more content…
The figure that these two companies alone spent on enormous advertising and marking so far this year is astonishing $235 million dollars. This figure was just until August 1st of this year, exactly a month before the start of the NFL season. The real scrutiny for daily fantasy gaming especially for DraftKings.com happened when one of their employees allegedly, Ethan Haskell, used inside information to play in a rival FanDuel.com and won $350,000 in weekly prize money. Although Haskell did not improperly use the data for his benefit but its investigation triggered employees from both companies from playing on either site. The real discussion in this case would also be if Haskell’s action indeed is a violation of insider information and what exactly was the information that Haskell exactly used to wager out his weekly lineup. Under DraftKings.com’s updated policy on employee participation, the company has hired Greenberg Taurig law firm led by former United States Attorney John Pappalardo to do a thorough review of their existing policies and controls to ensure a level-playing
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