Top DFS Operators Lobbying In FloridaIndustry Playing It Safe In Case State One Day Scrutinizes DFS |
|
.jpg)
According to a report from the Associated Press, daily fantasy sports rivals DraftKings and FanDuel have teamed up to lobby Florida lawmakers in Tallahassee. The industry reportedly sees the Sunshine State has a potential concern, if and when the state decides to scrutinize the fast-growing DFS market.
It’s not totally clear whether DFS falls within what is permissible under Florida’s complex gambling laws. “All it takes is one aggressive prosecutor or attorney general to jeopardize Florida’s lucrative and established fantasy sports market,” said one Florida-based attorney that the report cited. A small change to the law could eliminate this risk.
The industry would prefer legislative clarity.
If Florida does look at explicitly authorizing the games, it would join more than a dozen U.S. jurisdictions to recently do so. California unveiled last week that it is considering DFS regulation, while Michigan is looking at changing existing law in order to give “legal protection for citizens participating in fantasy sports.” Kansas enacted a pro-fantasy sports bill this year.
According to recent analysis by Eilers Research, the DFS market could reach $2.5 billion by 2020, which could be about as much as the entire online casino gambling market in the U.S. by that time.
Around 57 million people in the U.S. play fantasy sports. According to research cited by the AP report, Florida is home to as many as three million of those players.
If Florida does consider a DFS bill, it would add to the state’s growing list of gambling industry considerations. Some in Florida want the state to beef up its gambling offerings, which could include online lottery sales. Multi-billion-dollar casinos in South Florida have also been discussed, but those have drawn the opposition of Disney, which actually invested $250 million into DraftKings this year.
Copyright © 2001-2024
CardPlayer.com. All rights reserved.
