Report: Fantasy sports employees used insider info to bet

games. DraftKings spokeswoman Sabrina Macias said later that the number is based on internal research.

An employee with one of the companies, DraftKings, admitted last week to inadvertently releasing data before the start of the third week of N.F.L. The CEO of the ubiquitous DraftKings website made no effort to get cozy as he sat in front of a crowd of casino executives at a trade show last week in Las Vegas.

On the question of money laundering, DraftKings referred questions to a statement from the Fantasy Sports Trade Association that said the sites have “instituted monitoring systems to identify and prevent fraudulent or suspicious transactions.”

Robins cites an exemption in a 2006 federal law for fantasy sports that he believes allow his site and others including FanDuel to offer contests that normally spanned an entire season down to a single day. Daily fantasy sports allows online players to pick a roster of point-earning players from various teams for a single day of competition and win money, in some cases $1 million.

The daily fantasy sports industry has gone to great lengths to distance itself from traditional sports wagering. “It isn’t that different from the stock market.”

Robins, though, implied there should be no confusing his operation for a casino’s. He said the casino industry sees fantasy sports as a potential partner “to grow both of our businesses.”

“This screams and cries out for regulation,” said sports betting law expert Dan Wallach during a different panel at the gambling conference, who suggested it could be a haven for money laundering.

Observers, though, believe that after spending hundreds of millions of dollars on advertising during football games, the spotlight on the daily fantasy sports industry may ultimately lead lawmakers and regulators to keep a closer watch.

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A screen grab from the Draft Kings fantasy sports web site.

The debate was a hot topic of conversation at the Global Gaming Expo in Las Vegas.

Many in the highly regulated casino industry insist daily fantasy sports leagues are gambling sites, shouldn’t be treated any differently than traditional sports betting and, as a result, should be regulated. The midlevel content manager later won $350,000 at rival site FanDuel that same week, the Times reported.. The debate comes as the websites have flooded the airwaves with commercials in recent months touting how average fans became overnight millionaires by playing daily fantasy leagues.

Two major fantasy sports companies are under fire over allegations that amount to insider trading, the New York Times reported Monday night.

Robins said fewer than 15 percent of the people using his site bet on sports the traditional way, either legally or illegally.

Signing up for a DraftKings account involves choosing a username, providing an email address, clicking a box that says the person is older than 18 or 19, depending on the state, and providing credit card information. No other identification is sought.

The legal stance by Jason Robins of DraftKings that daily fantasy sports leagues are not a chance-based gamble has done nothing to tamp down what has become an intensifying national debate around the country.

“If it’s gray, our job is to make it black and white,” said Geoff Freeman, the association’s president and CEO. He said his industry is much more likely to attract customers who play chess and the stock market than people who make bets at sports books.

He didn’t say where that number came from and didn’t take questions after the moderated panel discussion to clarify, walking quickly out a side door as reporters asked questions. Others suggest the sites could be a potential haven for money-laundering.

“Fantasy is real gambling,” said Dennis Drazin, chairman of New Jersey’s Monmouth Park Racetrack, during a panel discussion. The NFL agrees with their legal stance.

Macias said the company takes a multilayered approach to check age and identity. “A rose is a rose.”

“It’s really the same type of person who, on the game side, likes chess,” Robins said.

Meanwhile, a New Jersey congressman has asked for a hearing on the legal status of daily fantasy sports, the commissioner of the NCAA’s Southeastern Conference has barred daily fantasy site ads on the SEC Network, and the casino industry’s American Gaming Association is looking into the industry as part of a broader look at legalizing sports betting beyond a few states.

The allegations, which amount to profiting from insider trading, have brought into question the practices of the fantasy sports industry

‘Online’ Gambling Underway in Sikkim Betting Shops

. Its this latter group the government hopes will be most drawn to the new gaming options, as Chief Minister Pawan Chamling has suggested he might introduce new legislation banning locals from accessing the betting shops entirely if their impact on local society is deemed too detrimental.

In July, Sikkims state government passed the Sikkim Online Gaming (Regulations) Amendment Bill 2015, which authorized licensed operators to offer sports betting, casino and poker games via intranet gaming terminals in betting shops located across the state. Golden Gaming director Manoj Sethi told Gambling Laws in India that his group had launched terminals in about 40 or 50 locations last month. The company hopes to expand its product line to poker, blackjack, roulette and (especially) cricket betting in the coming months.

The Sikkim governments original draft of the legislation would have allowed operators like Golden Gaming to offer gambling services to bettors in other states, but this plan was shot down by Indias central government, which passed legislation aimed at preventing Sikkim from undermining the anti-gambling stance adopted by less adventurous states.

As such, the terminals are currently only accessible by Sikkims 600k residents or visiting tourists. Once those options are in place, Golden Gaming plans to scale up its operations.

Two licensed operators Golden Gaming International (formerly Maarm International) and Essel Group (under the Playwin brand) have since begun offering keno and virtual horseracing at their Sikkim points of sale and other licensees are reportedly gearing up to join them.

December 8, 2015

golden-gaming-sikkim-online-gamblingIndias online gambling market took a symbolic step forward after two operators licensed in the Himalayan state of Sikkim began offering services to state residents

NBA Rumors 2014: LeBron James, Melo to Suns? Vegas pulls odds for 2015 NBA title

The Suns finished 48-34 last season and the addition of these two all-stars would make them a lot better!

While some online sports books like Bovada have odds posted on who will win next year’s title, many Las Vegas casinos have pulled them off the board and are waiting to see where stars like James, Carmelo Anthony, Dwayne Wade and others end up this fall. AZcentral sports reported on June 29 that if James declared for free agency the Suns would pursue him full force come July 1. The Suns landing James and Anthony this summer may seem unrealistic, but they do have the flexibility and the cash to do so.

The Suns don’t have the PR flash of a New York, Chicago or LA at first glance, but if they somehow, someway pulled off acquiring both James and Anthony, they would become an instant contender out in the desert. They also mentioned that James’ good friend Suns guard Eric Bledsoe may be able to convince him to jump from South Beach to Phoenix.

Many fans think James will end up back in Miami, but you never know! One thing NBA fans do know is that LBJ has a lot of clout in the NBA – enough to keep Las Vegas experts from posting odds on who will win the 2014-15 NBA championship! . As of June 15, Vegas Insider had the Heat listed as the favorite to win next season’s championship at 16/5 followed by the Spurs at 6/1. However with James, Wade and several others choosing free-agency this summer, putting money down on the Heat right now would be a sucker bet.

How could you wager on a team that has the possibility of losing all of its key players? It looks like even Vegas odds makers are waiting for the “Decision II” from LeBron James.

The Suns may have a secret weapon on landing James – point guard Eric Bledsoe.

LeBron James and Carmelo Anthony are by far the two biggest names available in this summer’s NBA free agency pool, but is it possible that they could really end up on the same team? According to a CBS Sports report, the Phoenix Suns have interest in both players