State Representative Tony Albright\u2019s bill would develop a framework of regulation in a state that reportedly has more fantasy players per capita than any other state. Estimates for DFS participants are 170,000 and about 1 million across all fantasy sports contests, in a state of 5.4 million people.<\/p>\n
Despite this, it remains unclear whether fantasy sports are legal or not under state law.<\/p>\n
Minnesota essentially prohibits wagering money on games of chance and sports betting. But a judgement on whether DFS is either of these has never been made.<\/p>\n
\n“We all know people who play fantasy sports,” said Paul Charchian, president of daily fantasy sports finance management company LeagueSafe, who also hosts a fantasy sports radio show. “We play because it is fun and we can be a virtual (sports team) general manager.”<\/strong><\/p>\n<\/blockquote>\nTime and Skill<\/b><\/h2>\n He said a failing to pass the Albright bill would allow fantasy sports to continue as is, without regulation and the additional player protections.<\/p>\n
Scott Ward, a Washington DC based attorney who represents fantasy FanDuel and DraftKings added that regulation \u201cputs a guardrail around the industry.\u201d He also noted that contests based on the performance of athletes are far more predictable than casino games.<\/p>\n
“Most often when somebody tells me they don\u2019t play fantasy sports the reason they give me is because they simply don\u2019t have the time to do it,” he said. “And that\u2019s because there\u2019s an inherent understanding that it take time, it takes research, and it takes skill to play fantasy sports.”<\/p>\n","protected":false},"excerpt":{"rendered":"
DraftKings has raised $100 million in a new round of funding, led by Eldridge Industries, the company owned by Los Angeles Dodgers part-owner Todd Boehly. DraftKings Chief Executive Officer, Jason Robins, confirmed rumors of the funding to Bloomberg via email this week. He said his company had looked for a funding partner that could bring […]<\/p>\n","protected":false},"author":42,"featured_media":46583,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[62,61,16,1074],"tags":[],"acf":[],"yoast_head":"\n
DraftKings Raises $100 Million in Funding, while Minnesota Tackles DFS Regulation<\/title>\n \n \n \n \n \n \n \n \n \n \n \n \n \n\t \n\t \n\t \n \n \n \n \n \n\t \n\t \n\t \n