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Business

Vegas casinos want a piece of growing daily fantasy sports business

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draught kings and fan duel
The two big players in daily fantasy sports, Draught Kings and Fan Duel

Nevada-based casinos, which have long held a monopoly of sports betting in the United States, want a slice of the fast growing daily fantasy sports business that has exploded in the last year.

According to the Washington Post, The American Gaming Association (AGA) has asked state attorneys general if it would be legal for its members to offer the same daily games as websites like FanDuel and DraftKings. The AGA represents casino groups such as MGM Resorts International and Caesars Entertainment, who so far have not seen anything from the daily fantasy sports industry, which is expected to generate $2.6 billion (€2.3bn or £1.7bn) in entry fees this year.

“It’s still sort of a gray, ambiguous market,” said Sara Rayme, the AGA’s senior vice president for public affairs told Washington Post.

“Right now, we’re at a competitive disadvantage because of the ambiguity.”

Daily Fantasy Sports allows customers to select players for professional sports matches and the win money based on the performance of their picks. Sports betting is currently illegal in the US, apart from in casinos in Las Vegas, Nevada.

The DoJ are currently investigating Daily Fantasy sports to see if it could be classed as a form of gambling. The big casino operators have held off until now, as they don’t want to jepordize their operating licences, but they risk seeing the opportunity pass them by if they don’t get involved soon.

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