There is a new trend in the fantasy football market, instead of season long fantasy football, you can wager (yes legally), on daily fantasy sports.
In fact, good ol’ Billy First, actually put an exemption for wagering on Fantasy Sports right into the Unlawful Internet Gambling Enforcement Act (UIGEA)
§ 5362. Definitions
In this subchapter:
(1 ) BET OR WAGER.
The term ‘bet or wager’—
(A) means the staking or risking by any person of something of value upon the outcome of a contest of others, a sporting event, or a game subject to chance, upon an agreement or understanding that the person or another person will receive something of value in the event of a certain outcome;
(B) includes the purchase of a chance or opportunity to win a lottery or other prize (which opportunity to win is predominantly subject to chance);
(C) includes any scheme of a type described in section 3702 of title 28;
(D) includes any instructions or information pertaining to the establishment or movement of funds by the bettor or customer in, to, or from an account with the business of betting or wagering; and
(E) does not include-
(ix) participation in any fantasy or simulation sports game or educational game or contest in which (if the game or contest involves a team or teams) no fantasy or simulation sports team is based on the current membership of an actual team that is a member of an amateur or professional sports organization (as those terms are defined in section 3701 of title 28) and that meets the following conditions:
(I) All prizes and awards offered to winning participants are established and made known to the participants in advance of the game or contest and their value is not determined by the number of participants or the amount of any fees paid by those participants.
(II) All winning outcomes reflect the relative knowledge and skill of the participants and are determined predominantly by accumulated statistical results of the performance of individuals (athletes in the case of sports events) in multiple real-world sporting or other events.
(III) No winning outcome is based
(aa) on the score, pointspread, or any performance or performances of any single real world team or any combination of such teams; or
(bb) solely on any single performance of an individual athlete in any single real-world sporting or other event.
You can read the entire UIGEA bioler plate here.
So I have spent the last few weeks playing daily fantasy baseball on FanDuel. The system is fairly easy, you pick options using a salary cap system. There are HU, 5-man, 10-man and multiplayer tournaments. I deposited $100, and have already withdrawn $150 (which I received near instantly) using my PayPal account.
Probably best to show by example, so here are my lineups for this weekend in to different salary caps:
Hopefully my skills will shine this weekend, good luck everyone!