Massachusetts gambling regulator reviewing daily fantasy sports activities
November 4, 2015
Massachusetts gambling regulator seems to be interested on daily fantasy sports activities. The regulator wants to know if the daily fantasy sports providers are operating within the law. The reason why Massachusetts thinks that this could become an issue is because the state is interested in regulating daily fantasy sports operators. The state wants to make sure of the legality of these online operators. Massachusetts gambling regulator wants to bring daily fantasy sports regulation to the table but the main concerns, such as gambling addiction, money laundering and trading, are still an issue.
During the latest Massachusetts Gaming Commission, regulating daily fantasy sports can become a reality but only under strict supervision. Commissioner Enrique Zuniga stated: "There are enough similarities to other forms of gambling that it warrants regulation". Commissioner James McHugh added: "You need to have somebody watching carefully when big sums of money are being transferred". Commission Chairman Stephen Crosby stated: "The industry needs to know what the rules of the road are, and it's incumbent upon us to move pretty quickly". Stephen Martino, one of Fan Duel’s lawyers, as well as former Maryland and Kansas gambling regulator, said: "This industry is not brick-and-mortar casinos. It's conducted in a completely different manner. To the extent that there is any risk, it's not as anywhere near as profound as in a casino or a traditional lottery”. CEO of one of the main daily fantasy sports operators, Draft Kings, Jason Robins, stated: "We are hopeful that this examination will give real consideration to the interests of the millions of individuals across the country who loves to play our games". Massachusetts Attorney General Maura Healey, seems to see on Nevada's situation one of the best examples: "reasonable suggestion and approach." Her spokeswoman, Cyndi Roy Gonzalez, commented: “There is little question that this industry will need to be regulated in order to protect consumers, and we intend to make our findings and recommendations public at the end of this review.”