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How Fanduel Is Turning Fantasy Sports Into Real Money
Forbes ^ | January 5, 2015 | Steven Bertoni

Posted on 01/12/2015 8:39:16 AM PST by C19fan

Days before Green Bay Packers quarterback Aaron Rodgers even suited up for a recent game against the Tampa Bay Buccaneers, an Irishman named Nigel Eccles had collected millions of dollars from people betting on Rodgers’ All-Pro arm. By noon on game day he was raking in $30,000 per minute. By the time Rodgers took his first snap, Eccles had collected $18 million.

The action was happening far from the Vegas Strip or a Costa Rican website out of reach of U.S. law enforcement. Eccles’ company, FanDuel, is situated above a storefront in New York City’s Union Square, and its business is entirely legal. Eccles exploited an exclusion in the 2006 online gambling laws that outlawed Web poker and continued the ban on sports betting, but left fantasy sports alone. Five years after its inception FanDuel has 1.1 million customers and is open for business in 45 states.

(Excerpt) Read more at forbes.com ...


TOPICS: Business/Economy; Sports
KEYWORDS: fantasy; football; gambling; sports
I bet fantasy sports was exempted from the 2006 law because Las Vegas does not have fantasy sports type bets except for the Super Bowl proposition bets so they didn't care. Luck is just as big an element or even more than in Poker.
1 posted on 01/12/2015 8:39:16 AM PST by C19fan
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To: C19fan
The law, however, exempted fantasy sports because it was considered a game of skill, not luck. All an operator had to do to keep it legal was follow a few simple rules: [...] level the playing field by allowing anyone in a league to draft anyone they wanted

That's 'fantasy sports' for chimps, IMHO.

2 posted on 01/12/2015 8:49:27 AM PST by ConservingFreedom (A goverrnment strong enough to impose your standards is strong enough to ban them.)
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To: C19fan

I think sports betting (like legal grass) is going to spread quickly across the fruited plain. It’s just far too lucrative for state legislatures to pass up.


3 posted on 01/12/2015 8:51:09 AM PST by nascarnation (....)
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To: C19fan; Hunton Peck; Diana in Wisconsin; P from Sheb; Shady; DonkeyBonker; Wisconsinlady; JPG; ...

Other people making money off of Aaron Rodgers’ arm.

FReep mail me if you want on, or off, this Wisconsin interest ping list.


4 posted on 01/12/2015 9:30:09 AM PST by afraidfortherepublic
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To: C19fan

Step right up folks, everybody’s a winner!


5 posted on 01/12/2015 10:04:24 AM PST by Stevenc131
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To: afraidfortherepublic

Were they going to break his arm, had we lost?


6 posted on 01/12/2015 10:08:17 AM PST by Diana in Wisconsin (I don't have 'Hobbies.' I'm developing a robust Post-Apocalyptic skill set...)
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To: Stevenc131

I have heard their commercials (radio) and that is NOT far from the truth in what they advertise.


7 posted on 01/12/2015 10:10:40 AM PST by Ghost of SVR4 (So many are so hopelessly dependent on the government that they will fight to protect it.)
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