I watched Real Sports with Bryant Gumbel this week. This segment, the HBO award winning series goes in depth on whether fantasy sports betting is gambling or a skill. The way fans play today is not
your father's fantasy sports.
The old version was pick a join a league of friends, select players for your team, pay your league fee and play a schedule of games. If you have the best record at the end of the season, you won the lion share of the money collected. Much different now.
Today millions of dollars is wagered daily by people that don't know each but operate under the original fantasy betting premise. When the day's games end the winner gets the money minus a 10%
handling fee. The players today use data and analytical spreadsheets to determine their selections. That why the question of skill versus risk comes in. The comparison of today's player to a day trader on Wall Street come to mind. Yesterday's player would be an avid fan of the sport or a particular athlete. Past performances, weather and time are all considerations when picking a fantasy team today. As of this writing, over 30 million people play fantasy sports. Football and Baseball are the two most popular games.
This is still gaming but with sophistication. Formal gaming that includes the lottery and slot machines tend to appeal to a clientele that has less funds and limited game awareness. Informal gaming such as sports betting and fantasy wagering requires more money and greater knowledge of the game. Any way you look at it, this is a billion dollar business about to explode. Mobile gaming and the legality of wagering on sports in New Jersey make fantasy a money making reality.
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