July 2nd, 2013
Via VegasChatter, a look at the potential of fantasy sports gambling:
Fantasy football is a multi-billion dollar business. Gambling is a multi-billion dollar business. What do you get when you put the two together? Something that will become a multi-multi-billion dollar business, perhaps. We tipped you off to expect more gambling on football last year after G2E.
Fantasy sports betting was made popular by fanduel.com where players pick a fantasy sports team (it’s available for most sports) and risk money in a pool against other players. The website keeps a small percentage of the money paid for each league while the winners of the pool keep the the rest. Games are as little as $1 to enter, but the prize pool for those games is pretty small. This has become a huge business for Fan Duel where they are earning millions on millions on millions of dollars. Gambling on fantasy sports is a pretty cool concept and casinos are beginning to latch on to the idea.
Last year, Cantor Gaming introduced a similar, but different, gambling on fantasy sports concept with Cantor Fantasy Sports. Cantor Gaming offers fantasy sports gambling from NFL, MLB and NBA with traditional fantasy match-ups as well, all offering point spreads on NFL teams they create. For example, for the NFL, they will create two fantasy teams and assign a point spread based on fantasy points earned by each team. Like a normal football game, you can pick team A minus the spread or team B plus the spread.
Gambling on fantasy sports continues to grow. Atlantic City approved fantasy sports gambling earlier this year and, last week, we received a survey from Station Casinos asking if we’d like them to offer fantasy sports gambling.
Regardless of whether we would ever gamble on fantasy sports (we probably will), we said yes. If heck yeah or strongly agree were options we would have said that. The more options for sports betting there are, the more we like it. Nothing has been confirmed but we fully expect to see Station Casinos get in the fantasy sports betting game in time for the football season.
This entry was posted on Tuesday, July 2nd, 2013 at 10:03 am and is filed under Blog. You can follow any responses to this entry through the RSS 2.0 feed. Both comments and pings are currently closed.
