College Football Conferences Ask DFS Sites To Stop Contests On GamesPac-12 Commissioner Says Letters Sent To FanDuel, DraftKings |
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During halftime of the USC vs. Stanford game on Saturday, Pac-12 Commissioner Larry Scott told the media that his conference, as well as the SEC, Big Ten, Big 12 and ACC, have sent letters to DraftKings and FanDuel, the two largest DFS sites, asking them to stop their respective contests on college games, according to a report from USA Today.
“The federal government has determined, for the moment, that it’s not gambling,” Scott said. “But the NCAA has taken a position that we can set the rules and we don’t support it. So that’s where we’ve drawn the line."
The Pac-12 Network will not be allowing any DFS advertisements, Scott added.
While football is the most popular sport for DFS sites, college football is dwarfed by the NFL and likely represents little revenue for DFS operators, according to LegalSportsReport. The DFS industry is expected to grow to $2.5 billion over the next four years.
For comparison, traditional gambling on sports is a $3.9 billion market in Nevada.
Last week, U.S. Congressman Frank Pallone Jr. (D-NJ) asked the House Energy and Commerce Committee to hold a hearing on the legality of fantasy sports. A hearing hasn’t been scheduled yet. It’s worth noting that Pallone’s state is trying to get sports books at Atlantic City casinos.
An estimated 57 million people in North America play fantasy sports. The entire fantasy football industry alone is worth around $11 billion, according to the Fantasy Sports Trade Association.
The booming DFS sub-industry has caused more than a dozen states to take a look at the activity and its legality, with the latest being Massachusetts, where DraftKings is based.
Federal anti-online gambling law does provide an exemption for fantasy sports, so that’s why the DFS operators and their investors are confident with the business. The likes of Google, Comcast and Disney have all invested in DFS sites, while Amaya Gaming, the owner of PokerStars, is running its own site. Even some of the major professional sports leagues are backing DFS sites.
It’s unclear if DraftKings or FanDuel will grant the request and stop college football contests.
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