Fan Duel Sports Gambling Analysis

665 Words3 Pages
One of the most recent economic developments that has surfaced is the contraversy of Fan Duel Sports Betting and Illegal Gambling. FanDuel started in 2009 and it is a way for Sports and Non Sports fans all over the world to assemble and wager money on professional sports teams. The winner of these betting pools receives some sort of cash reward. People put money in and most of the time take the loss because it is very difficult to win. It started off small in 2009 and then it began to rise quickly. In 2013 Fanduel had to shut down an 11 million dollar cost pool because it was to high. Now that number is so small compared to the amount of money out into some of these cash pools. The company hosts an average of as many as 600,000 line-ups per…show more content…
This is a very important topic because gambling can affect job opportunites and has spawned significant private and public sector investment. About three weeks ago the state of New York declared Fanduel as an illegal gambling site and has shut down the offices in the state. This is relevant to us because I know numerous people who are signed up to this site and participate on a weekly basis. Since the NFL is one of if not the biggest coorperation, Fan Duel and other gambling sites wlll continue to be around. As technology continues to grow, more people online can continue to engage in this gambling site. It is estimated that 57 million people in the united states are participating in this site. Studies have shown that FanDuel expects to give out 2 billion dollars in prize money this year. Which is money that the government thinks could be used for different purposes. So what does this mean? Studies have shown that organized gambling states like Nevada create many jobs for people and attracts thousands of tourists. All this activity helps to stimulate the economy. The rise of these types of sites elimates jobs for people and affects the existing businesses in the state. It is only a matter of time before California steps in and follows the other states that have shut down this
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