Ice started: Virginia became the first state in which fantasy sports is legalized
Virginia Governor Terry McAulifferee today signed a bill to legalize fantasy sports leagues. Now players in the fantasy sports market in the state will not feel outlawed.
Virginia was the first state in the United States to review its attitude to this business.
Fantasy sport is an online game in which participants make up a team of real players of a particular championship. True, fans of fantasy sports not only receive points at the end of the games, but also win the corresponding amount of money. This game is very popular in the USA and Canada, where billions of dollars are spinning in the industry.
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According to the bill , the organizers of fantasy leagues and the owners and the relevant sites must pay the state registration fee of $ 50 thousand. In addition, they are required to impose age limits (at least 18 years old) for their users.
Restrictions are also introduced for employees of companies working in this field - they have no right to bet in competing fantasy leagues, writes TechCrunch with reference to the bill.
The new bill is the first major victory of the companies DraftKings and FanDuel in the struggle for their legalization.
In 2006, a law was passed to ban online gambling. For fantasy sports made an exception - then it had a very harmless scale. Therefore, until now, this industry was not regulated by the authorities. In most US states, there is no clear position on this issue.
On November 25, 2015, a trial was held in the New York Supreme Court regarding the activities of DraftKings and FanDuel. The prosecution recognized their business in the field of fantasy sports as illegal.
In December, TechCrunch reported that Illinois Attorney General Lisa Madigan was in agreement with her colleague from New York and also recognized the fantasy league as illegal.
Thus, this business has been prosecuted by law enforcement agencies already in two states. Previously reported that California regulators are also preparing for an attack on FanDuel.
Madigan cites article 28-1 (a) (12) of the Illinois Penal Code: a legal entity or an individual violates the law if it launches, supports and manages an Internet site that involves people in a game for money or other material values.
DraftKings and FanDuel do not agree with the findings of the prosecutors. They are trying in every way to convince the states to reconsider their attitude towards the regulation of fantasy sports and solve this problem at the legislative level.
DraftKings and FanDuel insist that in fantasy sports, users do not just bet "for luck" - they analyze the game in the championships, the performance of athletes, game statistics. All this requires certain skills. And the development of these skills will determine the cash gain - even in a weekly or daily tournament.
However, not all participants in the fantasy sports market are satisfied with the bill passed in Virginia. Firstly, it does not take into account the difference between short and long tournaments. Secondly, (and most importantly) the registration fee of $ 50 thousand is too large for small market players. This will force them to leave the state, leaving the user audience to large companies like FanDuel and DraftKings.
Virginia was the first state in the United States to review its attitude to this business.
Fantasy sport is an online game in which participants make up a team of real players of a particular championship. True, fans of fantasy sports not only receive points at the end of the games, but also win the corresponding amount of money. This game is very popular in the USA and Canada, where billions of dollars are spinning in the industry.
')
According to the bill , the organizers of fantasy leagues and the owners and the relevant sites must pay the state registration fee of $ 50 thousand. In addition, they are required to impose age limits (at least 18 years old) for their users.
Restrictions are also introduced for employees of companies working in this field - they have no right to bet in competing fantasy leagues, writes TechCrunch with reference to the bill.
The new bill is the first major victory of the companies DraftKings and FanDuel in the struggle for their legalization.
In 2006, a law was passed to ban online gambling. For fantasy sports made an exception - then it had a very harmless scale. Therefore, until now, this industry was not regulated by the authorities. In most US states, there is no clear position on this issue.
On November 25, 2015, a trial was held in the New York Supreme Court regarding the activities of DraftKings and FanDuel. The prosecution recognized their business in the field of fantasy sports as illegal.
In December, TechCrunch reported that Illinois Attorney General Lisa Madigan was in agreement with her colleague from New York and also recognized the fantasy league as illegal.
Thus, this business has been prosecuted by law enforcement agencies already in two states. Previously reported that California regulators are also preparing for an attack on FanDuel.
Madigan cites article 28-1 (a) (12) of the Illinois Penal Code: a legal entity or an individual violates the law if it launches, supports and manages an Internet site that involves people in a game for money or other material values.
DraftKings and FanDuel do not agree with the findings of the prosecutors. They are trying in every way to convince the states to reconsider their attitude towards the regulation of fantasy sports and solve this problem at the legislative level.
DraftKings and FanDuel insist that in fantasy sports, users do not just bet "for luck" - they analyze the game in the championships, the performance of athletes, game statistics. All this requires certain skills. And the development of these skills will determine the cash gain - even in a weekly or daily tournament.
However, not all participants in the fantasy sports market are satisfied with the bill passed in Virginia. Firstly, it does not take into account the difference between short and long tournaments. Secondly, (and most importantly) the registration fee of $ 50 thousand is too large for small market players. This will force them to leave the state, leaving the user audience to large companies like FanDuel and DraftKings.
Source: https://habr.com/ru/post/299130/
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