March Madness is here. The NCAA Men’s Basketball Tournament, referred to as the “Big Dance,” is unlike any other tournament, with 68 teams narrowing down to one champion in a matter of three weekends. This year’s tournament promises to bring excitement and passion similar to years past, with the additional excitement of more legal gambling.1…
Tag: Gambling
The Impact of Murphy v. NCAA
For over two decades, the Professional and Amateur Sports Protection Act (PAPSA) stood as the federal roadblock preventing states from legalizing sports gambling. In May of this past summer, the Supreme Court removed this barrier by a vote of six to three in Murphy v. NCAA.1 Justice Alito wrote the opinion for the Court and…
Financial Impact of Daily Fantasy Sports: Part Two
The first part of this two-part blog series discussed the legal distinction currently in place that allows daily fantasy sports sites such as DraftKings and FanDuel to operate. Although sports’ gambling is illegal in most states, the Unlawful Internet Gambling Enforcement Act legalizes fantasy sports gambling when the winnings “reflect the relative knowledge and skill…
Are Fantasy Sports Really “Games of Skill”? Part One
Participation in and betting on fantasy sports has exploded over the past few years. Fantasy sports are defined as any sports competition with imaginary teams where the “participants own, manage, and coach” their teams, with the games “based on statistics generated by actual players or teams of a professional sport.”1 Websites such as Yahoo and…