Polls Show DFS Challenging Casino and Lottery Play
03 November 2015
The Leger research group did a poll of over 1,000 daily fantasy sports players in the United States. This poll showed a number of interesting things, but the most important finding was that their money spent on these games definitely lowers the amount of money they spend on lotteries and in casinos. A total of more than 60 percent of those players said that this is the case, and this could make casinos and lottery companies rethink how they approach DFS.
The Combination of Skill and Luck
It's already been established that daily fantasy sports is a form of online gambling, and it's not really worth it to pretend like it's not at this point. However, what does make it stand out is the unique combination of skill and luck that players need to do well. This is a lot like a game like online poker where skill will win out over the long run, but luck can still turn you into a winner even if you have no clue what you're doing.
This is one of the reasons why it's so interesting to think about why casino games and lottery games would lose money to DFS players. In short, it's the recreational players in DFS that aren't trying to get the advantage through skill that matter the most in this equation, and these are the types of players who would be really into lotto games or casino titles like online slots that focus primarily on the luck factor.
Numbers of People Playing
While daily fantasy sports have come under a lot of fire recently, it's important to point out that a total of about 15 percent of people in the United States who were polled by Leger answered that they have participated in DFS. This is a huge percentage of the overall eligible population, but that's not stopping states like Nevada from protecting their gambling operations by banning the games.
This research by Leger shows a lot of why this could be the case, and it also shows that DFS is direct competition for other forms of gambling in terms of where the dollars are going. The casinos and lottery companies could either adjust by getting in on the DFS action themselves, or they can try to ban the games and get nothing out of it. So far, they've been banning it for the most part.
06 February 2016Vantiv to Suspend Daily Fantasy Sports Payments
For the past six months or so, daily fantasy sports have been dealt setback after setback in what seems to be a series of dominoes that are taking their sweet time in falling over. For about 18 months, the top DFS providers got a ton of attention through aggressive marketing tactics and sponsorships and deals with everything from ESPN to major league sports teams. After a scandal broke last fall, they've seen a lot of negative attention as well. The Most Recent Developments Vantiv Inc.Read full article
21 January 2016Daily Fantasy Sports Not Allowed Says Maryland AG
Over the past few months, there have been a lot of questions about the legality of daily fantasy sports in multiple states. The Attorney General for New York sent a cease and desist letter to major companies like FanDuel and DraftKings, and they also hit some resistance from the AG in Illinois. Now the Attorney General of Maryland Brian Frosh has stated that it's not allowed under existing laws in the state. Where to Go From Here From here, Frosh has suggested one of two things.Read full article
19 January 2016Daily Fantasy Sports May or May Not Be Illegal in Texas
Daily fantasy sports have come under fire in New York from their Attorney General, and the biggest names in the business were forced to make a deal with the AG from Illinois after she determined that the events were illegal in that state as well. The Attorney General in Texas, however, is taking his sweet time with coming out with an opinion on the matter. Why the Delay?Read full article