ABC News – When lawmakers carved out an exemption for fantasy sports in a 2006 law targeting online poker, no person predicted that it could spawn a web based gambling operation that can someday rival the millions wagered daily in Las Vegas sports books.
But huge money changes hands each day in daily fantasy sports games and, unlike a chance to your favorite team to win a game, it’s legal in all but five states. The exploding approval 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 advance 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 have been around for greater than a decade sometimes offered cash prizes to a handful of victors in a big field, kind of like a sweepstakes.
Those types of competitions aren’t attractive for gamblers looking 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's 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 just need to beat most other players.
If online experts have a system or statistical analysis that the majority players don’t, that’s enough of a bonus to guide to consistent wins.
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