You may have heard about the possible legal trouble that daily fantasy sports sites like DraftKings and FanDuel have recently gotten themselves into. However, with all the legal matters pushed aside, something noticeable is occurring within the soaring popularity of daily fantasy sports—the public is becoming much more interested in online gaming, an industry that’s already on the rise.
Why Definition Matters
Measuring the recent growth as a step forward for fantasy sports
or a step forward for online gaming all depends on how you define the services offered by DraftKings and FanDuel. With pending legal action aside, it’s clear to see just how much of an impact the two services have had on the online gaming and gambling industries.
The massive ad campaigns launched by DraftKings and FanDuel may be excessive and annoying for many people on Sundays, but they’ve managed to spark huge interest in a product that, up until a year or two ago, was barely heard of. With millions of active users and billions of dollars in value, DraftKings are FanDuel are either two of the biggest names in fantasy sports, or two of the biggest names in online gaming. Which raises the question, which industry do these companies belong to?
DraftKings and FanDuel are Online Gaming Sites
Many news outlets and experts are labeling the two companies as gambling and betting sites—and for the most part, they’re right. The activity experienced by users on the two platforms involves making a bet and submitting cash in return for a chance at a large payout. This kind of online gaming and gambling is currently legal in only a few states, making the news about DraftKings and FanDuel a bit dismaying. However, fans of the sites’ services are ignoring the stigma and backlash, and enjoying the playing in daily fantasy leagues while they can.
What cannot be ignored is the interest that these sites have garnered. Online gaming
has been a controversial topic, and remains illegal at the federal level. But the massive interest and revenue that daily fantasy sports has attracted means that the world of e-commerce has something to gain through embracing them, rather than fighting them.
For more on the online gambling industry, or how to find credit card processing accounts for your gaming business, contact a representative at Instabill today.