Fantasy vs. Betting: The Battle Over Pick’em-Style Games Heats Up In a recent development that highlights the ongoing tensions between fantasy sports operators and sports betting giants, a dispute has emerged over the classification of pick’em-style games. The dispute centers around whether these games, popularized by fantasy operators like Underdog Fantasy and PrizePicks, fall under the umbrella of traditional fantasy sports or veer into the realm of sports betting. Underdog’s founder has accused industry leaders FanDuel and DraftKings of orchestrating efforts to reshape legislation, allegedly in an attempt to eliminate competition and secure their dominance. The heart of the matter lies in the resemblance between pick’em-style games and prop and parlay betting. As these games involve predicting player performances and outcomes, the distinction between skill-based […]

Kentucky has become the latest state to legalize sports betting, which is expected to draw business away from neighboring states and provide opportunities for major operators with a national presence, including Nevada-based companies. JMP Securities gaming analyst Jordan Bender estimates that Kentucky’s sports betting market will generate $250 million to $300 million in gross gaming revenue at maturity. FanDuel and DraftKings, which have long operated daily fantasy sports in Kentucky, are expected to benefit significantly from the legislation, and could control as much as 75 percent of the state’s sports betting market. Kentucky’s new sports betting law allows nine racetracks and historical horse racing casinos to operate a retail sportsbook, and each location can partner with up to three online operators. The law calls for […]

The Georgia state Senate has recently announced the beginning of their debate to launch a new bill that in turn would legalize betting on sports and horse racing, with new legislation not requiring a constitutional amendment. Senate Bill 57 would allow both online and in-person sports betting, letting a range of businesses and sports venues to acquire kiosks used to place bets. A quote from the bills chief supporter Sen. Billy Hickman states, “By running this through the lottery, there’s not a constitutional amendment required… Sports betting is deemed a lottery game.” Constitutional amendments must receive a two-thirds majority to be passed into law giving this a new bill a free pass on a tricky process. The bill shows 20% of adjusted gross income for […]