Tuesday, October 20, 2015

Fantasy Sports Fallout Now Approaching Video Games

For Fantasy Football Fans, you've probably been keeping up with the news with the Nevada Gaming Control Board and their crackdown on betting with fantasy sports. Football being one of the largest, websites such as DraftKings and FanDuel are currently under federal investigation for illegal practices with their employees. The skinny of the whole situation: employees using their knowledge of customer bets have been creating dummy accounts, and counter-betting (essentially) to win money. And they have the programs ready to create thousands of bets in a second on their sites, as well as competitor fantasy sports sites. When FanDuel is advertising that people can win millions off of one game, that's a lot of money we're talking about.

The Nevada Gaming Control Board has been doing their own investigation into these practices and it's put the sites in a bind. They require these sites to maintain a license for running a pay-to-play system. A number of the sites are now removing Nevada customers from their playlist. Basically if you live in Nevada, you can no longer place bets on DraftKings or FanDuel.

To stem the tide of the fallout, video game websites like Vulcan are doing the same. Vulcan let's you bet on local, national, and international video game tournaments with DoA, League of Legends, and the like. With Nevada cracking down, they don't want to be involved in the mess and are leaving Nevada customers to their own devices. Better safe then sorry.

This only applies to Nevada customers. Depending on how the federal investigation goes, it could expand and put a major hit against fantasy betting, real and digital.

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