Opinion: Why the NGC ruling on Daily Fantasy Sports is a good thing
As we await the arrival of final rules and regulations from the Nevada Gaming Commission regarding Sports Betting Investment Groups from SB443, the NGC sent out an announcement regarding a position that it believes DFS to be considered gambling.
Now, why is this decision a good thing?
Nevada has now set a tone that other states can decide to follow. If other states’ Gaming Boards determine the same, this will slowly creep into other questions regarding this part of the statement:
"...licensees should exercise discretion in participating in business associations with DFS operators that have not obtained Nevada gaming approvals."
What does that mean?
Other states’ Gaming Departments can now determine if they want their legislative bodies to draft up laws so that DFS operators can operate in their states. States LOVE revenue and this is what this is all about...Tax Revenue!
If states start to require DFS operators to obtain state licenses to operate, that is going to push PASPA to the forefront for judicial and/or Congressional review again.
Don't freak out about what NGC has stated about DFS groups, this is going to help get the ball rolling so more of you can freely choose to gamble or invest.
Nevada just recently passed SB443 which allows for Americans to take part in Sports Betting Investment Pools regardless of their state of residence. Once those rules and regulations are set (hopefully within days), you too can participate in the continuing evolution of sports betting!
— Matt Stuart is Founder/Managing Member of Bettor Investments, LLC based in Reno.