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Originally Posted by gunner09
Unfortunately mondo are pulling out from maryland for the moment because the state legislation has introduced a bill that might regulate dfs. I thought I was going crazy with all the teams I picked not showing up under my entries. well it was fun while it lasted. hopefully, the bill will be dfs friendly and mondo will come back.
That is unfortunate, Mondo CEO has been consistent in wanting to do business in a regulated market. I think the other sites will keep on fighting but does not look good for them.
I do find it very amazing how they resist regulation and bang on about a game of skill. Instead of accepting transparency and regulation as a way to go for sustainable long term growth.
Very short-term attitudes overall. Even Draft Kings admitted that they launched in the UK as an insurance policy just in case their home market goes fully belly up.
Have a read at this and to me this is what we call spin and double speak. It is betting and it is gambling with one's money. That is why they have to be regulated and operate with a license. Most business do exactly that.
In an interview with WIRED, DraftKings chief international officer Jeffrey Haas said that their product was mostly a game of skill, not chance, and should not be compared to straightforward betting -- even though the service has been granted a license to operate by the UK Gambling Commission.
"You’re not betting on the individual results of a club, what you’re doing is you’re using your statistical skills to understand and analyse the likelihood of individual players’ across multiple teams and multiple games and their likelihood to succeed in those games," he said. "In order to create the best possible lineup in one of our contests. You’re not actually entering a contest entry based on the results of the games, but on the results of individual players during the games, and there are millions of hypothetical combinations of players you could put to create a successful lineup."
Now to the logical summation.
The gambling license applications offer more fodder to attorneys general or lawmakers who are critical of daily fantasy, Wallach said. The Nevada Gaming Control Board said last year that DraftKings' U.K. license created an "appearance of inconsistency."
But DraftKings' and FanDuel's applications for licenses show their willingness to submit to more oversight if it means clearly operating within the law, said Marc Edelman, an associate professor of law at Baruch College who consults on fantasy sports law.
"Operating in England, or in any countries around the world where gambling is legal with a license, is probably safer for revenues," he said.
Go Figure!!!