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The Legislative Impact To The Online Sports Gambling Industry

1214 Words5 Pages

Michael Wiseman May 13, 2017
MBAMGT 660: Business and its Environment
The Legislative Impact to the Online Sports Gambling Industry
What had started out to be a discussion of how a Boston based tech company navigated the pitfalls of being associated with online sports gambling, has evolved into the understanding of an industry that has battled decades of legislative actions as a result of non-market environment issues led by NGOs and Interest group opposition. This body of work will focus on the evolution of the Fantasy Sports Industry, current legislation surrounding sports gambling, the future impact and direction of legislative measures on sports gambling, and how companies such as DraftKings will position themselves to take advantage of these non-market environment issues.
HISTORY OF FANTASY SPORTS
The concept of selecting professional athletes and organizing contests based on actual performance has been around since the early 1950’s. Wilfred Winkenbach (8-FTSA) formulated a version of today’s “fantasy golf”, in which team captains or coaches were to select a team of professional golfers and the person with the lowest combined total of strokes at the end …show more content…

A study was conducted by the FSTA in 2016 which reported approximately 57.4 million people in the U.S. participated in some form of fantasy sport entertainment. In 2015, DraftKings, a Boston based technology company, introduced the concept of Daily Fantasy Sports (DFS). Historically, fantasy sports take place over the course of several months during the season, requiring significant time and commitment. The DFS platform disrupted the industry by allowing participants to enter sporting contests lasting only one day. Since the introduction of DFS, as depicted by the 2016 FSTA study, sports gambling has become a widely-accepted practice by capitalizing short term commitments with mobile web application

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