With the recent emergence of daily fantasy sports websites such as DraftKings and FanDuel, the nerdy pursuit of statistical supremacy of one imaginary team owner over others during the course of an entire season has been replaced by down-and-dirty bids to collect cash on the basis of a single weekend's sports action.
Daily fantasy is played much like regular fantasy, with players choosing lineups and scoring points based on individual player statistical achievements. Player fees fund the payout for winners at the end of the season. The difference between daily fantasy and traditional fantasy is that there is a new game, and a new chance to win, every day or week.
Investors appear enthusiastic. Bloomberg Sports reported in July that the two leading daily fantasy companies – DraftKings and FanDuel – had completed $300 million and $275 million financing rounds respectively.
The U.S. Department of Justice hasn't put its bet down yet.
Season-long fantasy sports leagues operate under the federal anti-Internet gambling law's carve-out for bona fide fantasy sports games that reflect the “knowledge and skill of the participants” and are determined based on the statistical performance of athletes in real sporting events.
Over a full season, knowledgeable football fans should be able to manage their teams to victory in traditional fantasy leagues. But on “any given Sunday,” as NFL observers like to say, anything can happen. Hunches, stray data points of questionable provenance, and plain old luck -- the standard tools of gamblers everywhere -- may trump knowledge and skill, allowing casual fans to triumph over the nerdiest of stat junkies, which can make the game resemble gambling.
If this difference is significant to federal law enforcement officials, it could be "game over" for daily fantasy websites.
Note: Daily fantasy sites currently block users in Arizona, Iowa, Louisiana, Montana and Washington, each of which has declared all forms of fantasy sports for money illegal.
All Bloomberg BNA treatises are available on standing order, which ensures you will always receive the most current edition of the book or supplement of the title you have ordered from Bloomberg BNA’s book division. As soon as a new supplement or edition is published (usually annually) for a title you’ve previously purchased and requested to be placed on standing order, we’ll ship it to you to review for 30 days without any obligation. During this period, you can either (a) honor the invoice and receive a 5% discount (in addition to any other discounts you may qualify for) off the then-current price of the update, plus shipping and handling or (b) return the book(s), in which case, your invoice will be cancelled upon receipt of the book(s). Call us for a prepaid UPS label for your return. It’s as simple and easy as that. Most importantly, standing orders mean you will never have to worry about the timeliness of the information you’re relying on. And, you may discontinue standing orders at any time by contacting us at 1.800.960.1220 or by sending an email to firstname.lastname@example.org.
Put me on standing order at a 5% discount off list price of all future updates, in addition to any other discounts I may quality for. (Returnable within 30 days.)
Notify me when updates are available (No standing order will be created).
This Bloomberg BNA report is available on standing order, which ensures you will all receive the latest edition. This report is updated annually and we will send you the latest edition once it has been published. By signing up for standing order you will never have to worry about the timeliness of the information you need. And, you may discontinue standing orders at any time by contacting us at 1.800.372.1033, option 5, or by sending us an email to email@example.com.
Put me on standing order
Notify me when new releases are available (no standing order will be created)