Yahoo Inc. is looking to supplement its stagnant advertising business with a new foray into legal online gambling.
The Internet company on Wednesday unveiled a retooled version of its fantasy-sports mobile app that lets users wager real money daily and weekly against their friends and in bigger online tournaments. Yahoo will keep about 10% of the entry fees paid by players, Ken Fuchs, vice president of publisher products at Yahoo, said during an event announcing the app.
The new game marks Yahoo’s attempt to make money from a booming industry that has taken advantage of loosening regulations around online wagering. Unlike poker and sports betting, fantasy sports are exempt from the Unlawful Internet Gambling Enforcement Act of 2006 because they involve skill and not just chance, though some states still restrict these services.
Yahoo said playing its Daily Fantasy game is legal in 45 states—all but Iowa, Arizona, Washington, Montana and Louisiana.
Fantasy Sports Now Legal in Kansas Kansas State Governor Sam Brownback has signed a bill that will legalise fantasy sports gaming activities in the US state.
Having received heavy support from the public and government figures, Bill HB 2155 was passed in the state senate by a vote of 37-1.
Signed by Governor […]
New York Lawsuit to Stop Fantasy Sports The constitutionality of a new law legalizing and regulating daily fantasy sports in New York is being challenged in court, according to the group Stop Predatory Gambling.
According to SPG, a group of New York citizens filed a lawsuit with the New York State Supreme Court on Wednesday. […]
ESPN Inks Deal with DraftKings DraftKings has agreed a deal to become the official daily fantasy sports offering across all platforms operated by US sports broadcaster and Disney subsidiary ESPN.
Under the agreement, the terms of which were not disclosed, both companies will benefit from branding and promotional […]