The chief executives of two of the largest sports betting sites in the U.S. say it is up to states to determine what is a fantasy contest and what is wagering — arguing that when they do, regulators should enforce the definition equally.
in the U.S. say it is up to states to determine what is a fantasy contest and what is wagering — arguing that when they do, regulators should enforce the definition equally., wherein users choose two or more outcomes, such as a player going over a certain point total, to try to win a payout from the operator.
“I think that's part of where we are right now in the states,” Robins said. “There's going to be people, companies that are pushing the limits.” At issue is whether pick ‘ems constitute illegal or unlicensed sports betting. The player prop parlay-like products are offered in states that have not legalized sports betting and that have, meaning those fantasy operators can compete with DraftKings and FanDuel where the two companies are licensed sportsbook operators and where they are not.
“That to me is one of the real issues here,” Howe said. “Where the lines start to blur between games of skill and real money wagering and you don't have the same KYC protections that we have.”
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