CEO DATELINE - Fantasy sports group embraces gambling, rebrands
CEO DATELINE - Fantasy sports group embraces gambling, rebrands
- January 24, 2019 |
- CEO Update
The Fantasy Sports Trade Association is riding the wave in legal sports betting by expanding its focus to companies and players in the gambling arena. The group will change its name to the Fantasy Sports & Gaming Association in April.
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The move follows the May 2018 U.S. Supreme Court decision to strike down a federal law that prohibited states from authorizing sports betting. Since then, several states have OK'd such gambling, and many more are considering it.
"We see a need for an association of companies that not only offer fantasy sports, but also emerging gaming opportunities," Paul Charchian, FSTA board president, said in a statement announcing the changes. "Non-sports fantasy games, eSports and sports betting have gameplay similarities, shared vendors, shared customers and shared legal goals. We will build on our 21-year track record of helping to grow the businesses within these industries."
Gambling.com reported that Charchian gave a presentation during FSTA's winter conference in Tampa, Fla., this week. He said polling revealed that 48 percent of fantasy players were already sports bettors and that 78 percent expected to do so at some point. Polling of FSTA's members showed 83 percent in favor of including sports betting interests in the group. https://bit.ly/2Dx4Hwg
FSTA, which estimates 60 million people play fantasy sports in the United States and Canada, currently has about 150 member companies.
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