Fantasy sports and fantasy sports betting have primarily been unregulated leaving both critics and fans in turmoil any time someone mentions the term regulation. Critics want fantasy sports regulated so they can have better control over the industry and its profits and those in Congress have a list of rules and conditions they would like instilled. While players are also pushing for regulation to ensure the safety and security of their bets, but they have their own list of wants as well.
Fantasy Sports in the US
In fact, there really isn’t a good reason for the lack of progress toward legalization of fantasy sports. The US landscape is complicated, with constitutional language and tribal compacts adding layers to the debate. And although efforts to legalize fantasy sports in the US date back to 2015, every attempt has stalled without much progress. In 2018, however, lawmakers are trying again to push forward their legislation. Many US states are pushing for legislation and some have already approved bills for Congress which could legalise fantasy sports betting very soon.
Fantasy Sports in the UK
The organisers of fantasy sports leagues in the UK received a warning in 2017 from the UK Gaming Commission requiring that all fantasy sports league organisers ensure that their operations comply with all gambling laws. Specifically, the definition of “betting” under the terms of the Gambling Act 2005 (the Act) (thus constituting a regulated activity, requiring of a licence); or, fall outside of the scope of the Act.
What the UKGC Said
In a press release issued last year, the UKGC stated, “The risk for those organising fantasy football leagues is that it could require a pool betting licence from the Gambling Commission, as prize values are determined by the number of paying entrants.The exception to this is where it is not run in the course of a business, or where it is run privately, for example with residents of the same premises or between work colleagues.”
The warning doesn’t cover the wide range of social fantasy contests run between friends and co-workers.The UKGC also warned companies that just by promoting a fantasy sports contest, they could requirea license.
The UKGC went on to say, “Advertising, when it comes to gambling, includes doing anything that encourages someone gamble, or provides information about gambling facilities so that it will increase use. This includes Twitter or Facebook posts, whether public, or private or within groups.Promoting a fantasy football league in this way could mean it is being operated in the course of a business and will need an operating licence.”
If you play fantasy sports in the US or the UK and want to stay updated on all of the regulations for 2018, visit Offersville today and learn about fantasy league regulation and new legislation and how it could affect you.
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