Fantasy Sports Betting in the USA
Fantasy Sports are relatively recent compared to other forms of betting. They involve putting together virtual teams, where points are earned by real-life performances. Unlike sports and eSports betting found on GG.Bet, players earn by betting against each other.
This activity involves the creation of Fantasy Sports leagues where players play against each other for the grand prize. In recent times, Fantasy Sports has become a multi-million dollar industry making over $15 million in yearly revenue as of 2019.
Why Are Fantasy Sports So Popular?
Between 2015 and 2022, reports show that the number of Fantasy Sports players increased from about 40 million to over 50 million people in the U.S.A alone. The reason for this is not far-fetched.
First, Fantasy Sports betting is significantly different from other forms of betting. The players are in control as it allows them to choose individual players from different teams to form the teams they manage. Players rely more on their ability and knowledge than on mere luck, making them feel more connected to the game.
As a testament to its success, Fantasy Baseball, Fantasy Premier League (FPL), Fantasy Basketball, Fantasy Cricket, and Fantasy American Football have become very popular all over the world.
Is Fantasy Sports Betting Legal in The U.S.A.?
Gambling in the U.S.A. is regulated by the States and Federal Governments. States in the United States have bodies that are assigned the duty of regulating all land and online gambling activities within the state. It is for this reason that laws regulating gambling could differ from state to state.
For instance, sports betting is illegal in states like California, Alaska, and Alabama. Whereas in states like Michigan and Nevada, it is legal.
The main determinant for a game to be deemed as gambling is whether or not it requires skill or luck. Considering that all games involve an element of both luck and skill, the issue for debate is usually the extent to which a game requires either of them.
On October 13, 2006, the Federal Government passed the Unlawful Internet Gambling Enforcement Act. This legislation defined Fantasy Sports as a game of skill rather than luck. Consequently, Fantasy Sports, under Federal Law, is not regarded as gambling. However, not all States in the U.S.A. have domesticated this legislation.
Essentially, the debate on whether or not a game is considered to be gambling is determined by the government of each State. Presently, 23 States in the U.S.A. have enacted laws that make Fantasy Sports betting legal. Of the remaining 27 States, none has enacted any law to expressly define Fantasy Sports betting as illegal.
Below is a list of States where Fantasy Sports betting has been made legal as well as States that have not enacted any laws that make the activity illegal:
|STATES||Legal Status of Fantasy Sports|
Getting Started with Fantasy Sports Betting
The choice of what Fantasy Sports to play is largely affected by what sport is most popular in the area. For example, soccer is the most popular Fantasy Sport in Europe, while American Football is more popular in Northern America.
Choosing the sport to play Fantasy Betting on is the first step to getting started with Fantasy Sports betting. Afterward, follow this step-by-step guide to enjoy the best of Fantasy Sports:
- After choosing your preferred sport, sign up and register on a credible Fantasy Sports betting site.
- Create a well-balanced team with the amount provided by the site to sign players. (There are usually restrictions on the number of players for a particular position).
- Join any of the available public leagues and play against other players.
- There is also the option of creating private leagues where you can compete against family and friends.
- Manage the players on your team and earn points from the real-life performances of your players.