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PRESS RELEASE: FSTA statement on Supreme Court’s sports-betting decision

FOR IMMEDIATE RELEASE
May 14, 2018
Contact: Aaron Manogue
(608) 310-7547 – media@fsta.org

FSTA statement on Supreme Court’s sports-betting decision

Today’s Supreme Court decision to overturn PASPA is expected to have a significant impact on the fantasy sports industry and the member companies of the Fantasy Sports Trade Association.

We expect that many fantasy sports companies will elect to offer sports gambling products in addition to their fantasy sports games and the FSTA intends to support those member companies.

We are excited about the variety of gameplay innovations that will be developed in the future. Consumers will benefit from a new era of fantasy games that merge fantasy sports and sports betting.

To date, 19 states have formally legalized fantasy sports and the FSTA expects that trend to continue as states begin legalizing sports betting.

We emphasize that fantasy sports are games of skill and we continue to stress the distinctions between fantasy sports and sports betting.

The biggest potential downside to the legalization of sports betting is the prospect of heightened, costly regulation. If fantasy sports operators are lumped together with sports gambling companies, fantasy sports companies may be required to meet the regulatory standards of gambling companies.  With this in mind, we will continue to work for common sense legislation, fee structures that allow all operators to remain viable and clarification that fantasy sports contests are legal games of skill.

The hybridization of fantasy sports and sports gambling will be covered extensively at the FSTA Summer Conference, June 19-20 in Minneapolis. Attendees will be the first to review brand new Ipsos/FSTA research data detailing the crossover of fantasy players and sports gambling. You can review the conference agenda and register to attend here.

About FSTA

The Fantasy Sports Trade Association represents the fantasy sports industry with over 150 member companies ranging from small startups to large media corporations. As the voice of the industry since 1998, the FSTA has been the leader in providing demographic data, annual conferences and collective action to ensure unfettered growth. For more information, visit https://www.fsta.org.