Sports Betting Tips: How Professional Bettors Handle Winning and Losing Streaks
NBA Commissioner Adam Silver center watches the game between the Charlotte Hornets and the Phoenix Suns at Time Warner Cable Arena.
The product they sell is not sports betting, they say.
In exchange for an entry fee, FanDuel allows sports fans the chance to win cash prizes every day based on the performance of players in professional or college sports.
And that's why the topic was up for debate Sunday at a meeting of legislators and gambling industry officials pro gambling debate the Paris Las Vegas hotel and casino.
Led by FanDuel, the daily fantasy sports industry has soared in popularity recently, with promises of payouts ranging from hundreds to millions of dollars.
The question on Sunday was whether it crossed the line into sports gambling and should be regulated as such.
It doesn't mean that it's subject necessarily to the same laws.
You're risking money on something of an uncertain outcome, and to me that sounds like gambling.
Though American pro sports leagues historically have opposed the spread of sports betting, they all have embraced daily fantasy games in the last two years, largely because it leads to more television viewership and source />If fans have money at stake in daily fantasy sports, they are more likely to watch more games than they otherwise would.
A day after that announcement, NBA Commissioner Adam Silver declared in the New York Times that sports betting should be legalized and regulated.
Daily fantasy sports is "a bridge to legalized sports gambling because that's where the big money is," said Les Bernal, national director of Stop Predatory Gambling, a nonprofit pro gambling debate Washington, D.
Another federal law cracks down on online gambling while specifically stating that paid fantasy sports games are games are legal, provided they meet certain conditions, including having winning outcomes that reflect the skill of participants, as opposed to mere chance.
But that law was passed in 2006, before the rise of FanDuel and other daily fantasy sports companies.
New technology has led to new and faster ways to make money for fans who play fantasy sports, raising questions about whether it has entered an area that should be regulated.
With sports betting, "the question is do you regulate it or ignore the fact that it is happening?
I think most people would say yes, right?
You want pro gambling debate make sure the advertising is legitimate.
You want to have age restrictions on people who are playing.
The rise of the internet changed all that, allowing fantasy fans the chance to win money every day and not just once a year.
To play, they generally just need to set up an online account, pay an entry fee and select a team of real-life players.
If their players put up the best statistics that day, they win cash prizes.
Bernal called it a "complex pro gambling debate wager" and said daily fantasy sports share similar this web page with online poker because the entry fees of many low- or middle-income "fish" are pooled to feed the sharks who use data-driven strategies to win big money.
King disputed this and said novice players can compete against each other in rookie leagues.
He also said one of the biggest distinctions between sports betting and fantasy sports is that "you can't fix the outcome" in fantasy.
American pro sports leagues historically opposed traditional sports gambling because they worried it would https://indonesiaairsoft.com/gambling/gambling-boat-in-brunswick-ga.html to point-shaving scandals and bribery to fix outcomes for bettors.
With fantasy sports, this risk doesn't appear to exist because fixing an outcome likely would require too large of conspiracy involving multiple players on multiple real-life teams.
FanDuel doesn't offer paid entry games in Arizona, Iowa, Louisiana, Montana or Washington because the laws there are against or unclear about paid fantasy sports.
Nelson Rose, a gambling law expert.
If fantasy sports is gambling, calling it fantasy sports makes it more acceptable than sports betting.
How to Become a Professional Gambler [Q & A]
Legislators looking into legal sports betting have not yet settled on big. adults to legally wager on the outcome of professional sporting events.
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