12/11/2023 0 Comments Draftking nevadaAnd while data isn’t available for more recent expenditures, anyone who has watched even a snippet of a football game this season has probably noticed that the ad campaigns haven’t been hurt. The two companies have spent a combined $101 million on advertising between August and mid-September, according to The Wall Street Journal. The number of entries at DraftKings spiked from 3.75 million to 4.14 million in one week FanDuel’s number grew from 3.18 million to 3.38 million, as ESPN reported. Both companies enjoyed spectacular weeks during the heat of this mêlée. The recent backlash, however, seems to be a Pyrrhic victory. Ten days later, the Times published a long piece about the dangers of fantasy betting. The Nevada decision came weeks after The New York Times reported on an episode that “amounted to allegations of insider trading,” in which employees at the two companies were making bets aided by proprietary information. Last week, regulators in Nevada ruled that playing daily fantasy sports for cash, a right protected by a loophole in the Unlawful Internet Gambling Enforcement Act of 2006, should be considered “gambling” rather than the less-sinister sounding “game of skill.” DraftKings and FanDuel, the industry’s titans, were forced to cease operations in the state until they received their gambling licenses. From a pure optics perspective, it’s been a rough month for the burgeoning fantasy-sports gambling business.
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |