DraftKings and FanDuel, daily fantasy sports competitors, are lobbying legislators in Florida together to clarify state law regarding DFS.
A Florida-based attorney familiar with the situation noted, “All it takes is one aggressive prosecutor or attorney general to jeopardize Florida’s lucrative and established fantasy sports market.” Lawmakers could make a minor change to gaming laws to eliminate that risk, he said. Of the estimated 57 million fantasy sports players, about 3 million live in Florida.
Aside from a DFS bill, Florida legislators also are considering online lottery sales and Las Vegas-style casinos in South Florida. However, the mega-influential Disney Company, which invested $250 million in DraftKings this year, has opposed those changes.
Kansas enacted a pro-fantasy sports bill earlier this year and more than a dozen U.S. jurisdictions recently have considered authorizing DFS games. California recently announced it is reviewing regulating DFS, and Michigan officials may change existing law to provide “legal protection for citizens participating in fantasy sports.”
According to a recent report by Eilers Research, the DFS market could total $2.5 billion by 2020. The report noted the entire U.S. online casino market could reach the same total by then.
