ABC News – When lawmakers carved out an exemption for fantasy sports in a 2006 law targeting online poker, nobody predicted that it might spawn a web-based gambling operation that can someday rival the millions wagered daily in Las Vegas sports books.
But huge money changes hands on a daily basis in daily fantasy sports games and, unlike a big gamble for your favorite team to win a game, it’s legal in all but five states. The exploding acclaim for the games has attracted investments from traditional media heavyweights Sports Illustrated and USA Today, either one of which recently started their very own pay-to-play sites.
The key have been the improvement of weekly and daily fantasy games with paid entry fees and cash payouts. Traditional fantasy sports competitions — those who the 2006 exemption was looking to protect — involve season-long competitions. The web competitions which were around for greater than a decade sometimes offered cash prizes to a handful of victors in a big field, similar to a sweepstakes.
Those varieties of competitions aren’t attractive for gamblers seeking to make fast money. But, for some gamblers, the daily and weekly games are much more attractive than betting on who will win the game.
The gamblers can play from anywhere — unlike sports gambling, that is legal only in Nevada and Delaware. The legal age to play online fantasy games is 18, unlike 21 for gambling. And, most important, the winners in fantasy games don’t need to beat the casino. They only must beat most other players.
If online experts have a system or statistical analysis that almost all players don’t, that’s enough of a bonus to guide to consistent wins.
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