Fantasy Sports – It’s All A Fantasy
Fantasy Sports – It’s All A Fantasy
Fantasy Sports continue to gain popularity
California recently introduced a bill to allow online sports betting. The motivation of this bill is believed to be the increasing popularity of fantasy sports. Although, the bill has yet to be voted in, many operators and payment service providers have become excited at the introduction of the bill and see it as a sign that California the largest of the US states may be opening up to online gambling. This would make the US an attractive market to invest in again. However when you look closer it is clear that the bill means no such thing.
Firstly the bill is widely seen to be the backup to the more controversial legislation to allow online poker and Casino which went no where in 2015.
Sports betting is illegal in the US at a federal level and New Jersey’s attempt to legalize sports betting was thwarted recently using the backing of the same Federal law.
The California sports betting bill is likely to have a similar fate unless the Federal law is changed and there are no signs of that happening any time soon.
Currently only three US states allow non sport online gambling, New Jersey, Nevada and Delaware. From a population perspective these states comprise less than 4% of the US population so it’s not a large chunk of the market by any means.
What is interesting about the attempts by both New Jersey and California to introduce a sports betting bill is the rise of the popularity of fantasy sports. Through a loophole in the legislation, betting on fantasy sports is legal in the US and the industry has been growing rapidly. Of course traditional gambling operators want a piece of the action.
What do you think, as an operator or (payment) service provider is it the right time to begin looking at the US market again?
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