This question has raised much debate in the past few weeks. So much so, that the New York Attorney General has asked Draftkings and Fanduel, two sports gambling websites, to stop accepting bets from residents of New York. Supporters of sports gambling are convinced that the act of drafting certain players is skill, not luck. However, to the contrary, sports gambling to others is comparable to the lottery. An activity that is purely luck and requires no previous knowledge to have success. By law, online betting is currently illegal in the United States due to the Professional and Amateur Sports Protection Act. However, owners of these daily fantasy corporations explain to the public that it is a game of skill, which excludes it from the law
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“Prior to PASPA, the [Interstate] Wire Act was enacted in 1961. It was intended exclusively for prohibiting the placement of bets by telephone to bookmakers for sporting events, and was largely put in place by then U.S. attorney general Robert F. Kennedy in order to discourage organized crime and bookmarking”(Grassi par.9). Major changes have been made in our technology driven world since, causing the government to propose and enforce new acts. The most recent act was the Unlawful Internet Gambling Enforcement Act of 2006, making offshore gambling a violation of federal law. This was due to the uncontrollable regulation that never seemed to exist. As the government continues to pursue regulation of sports gambling, new companies are continuously bending the rules to make enormous profits. History has shown, that the government enforcing the illegalization of sports gambling has been highly unsuccessful and if they continue to ignore the astounding profits, companies such as Draftkings and Fanduel will steal all their potential …show more content…
Currently, owners of teams in sports organizations such as the NFL, NBA, and the MLB are opposed to these changes. However, reports from ESPN have claimed that these organizations as a whole, own stocks in these expanding companies. Politicians are bought into the fact that the companies can efficiently run on their own, and as long as they receive a benefit from these transactions, they are perfectly fine with whatever unpredictable outcome may arise. In reality, just like sports, betting is strictly a business where money triumphs all else. Owners of these organizations see fantasy sports as a negative attraction that will lure fans away from the stadium and into their local bars. If sports lovers get hooked, they will rather watch multiple games at a time to check on all their fantasy players, rather than pay more money to watch only one game. In the organizations opinions, they see these fantasy games as a way to attract to a new fan base, one that is solely interested in creating a profit through their product on display. This new market creates a tremendous source of revenue for all parties involved and creates a great circular movement of cash flow. Everybody knows an economy does best when cash continues to transfer hands. What better way to do this then through a fun interactive gaming
“Prior to PASPA, the [Interstate] Wire Act was enacted in 1961. It was intended exclusively for prohibiting the placement of bets by telephone to bookmakers for sporting events, and was largely put in place by then U.S. attorney general Robert F. Kennedy in order to discourage organized crime and bookmarking”(Grassi par.9). Major changes have been made in our technology driven world since, causing the government to propose and enforce new acts. The most recent act was the Unlawful Internet Gambling Enforcement Act of 2006, making offshore gambling a violation of federal law. This was due to the uncontrollable regulation that never seemed to exist. As the government continues to pursue regulation of sports gambling, new companies are continuously bending the rules to make enormous profits. History has shown, that the government enforcing the illegalization of sports gambling has been highly unsuccessful and if they continue to ignore the astounding profits, companies such as Draftkings and Fanduel will steal all their potential …show more content…
Currently, owners of teams in sports organizations such as the NFL, NBA, and the MLB are opposed to these changes. However, reports from ESPN have claimed that these organizations as a whole, own stocks in these expanding companies. Politicians are bought into the fact that the companies can efficiently run on their own, and as long as they receive a benefit from these transactions, they are perfectly fine with whatever unpredictable outcome may arise. In reality, just like sports, betting is strictly a business where money triumphs all else. Owners of these organizations see fantasy sports as a negative attraction that will lure fans away from the stadium and into their local bars. If sports lovers get hooked, they will rather watch multiple games at a time to check on all their fantasy players, rather than pay more money to watch only one game. In the organizations opinions, they see these fantasy games as a way to attract to a new fan base, one that is solely interested in creating a profit through their product on display. This new market creates a tremendous source of revenue for all parties involved and creates a great circular movement of cash flow. Everybody knows an economy does best when cash continues to transfer hands. What better way to do this then through a fun interactive gaming