You know those ads that seemed to come out of nowhere this year, but are on every channel every single commercial break? Yes FanDuel and DraftKings. They’re so annoying, and yet they’re working extreamly well.
Those two site will end up paying out over 2 billion dollars worth of winnings this year alone. Traditional sports gambling is taking a hit too. During the first week of NFL games the digital gambling sites pulled in over $60 million in entry fees. Las Vegas sports books only garnered half of that.
This growth is almost exponential. By 2020 digital sports gambling sites or ‘fantasy’ sports could be pulling in upwards of $77 billion a year.
How is all this legal? Well in 2006 the American government decided to ban all online gambling, except sports gambling. Why is that? The government believe the outcome of a sports game isn’t included under the umbrella of ‘a game of chance’. I’ll let you decide for yourself if these fantasy leagues are gambling or not.8.9k