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BETA   •   THURSDAY, OCTOBER 22ND, 2020

What is Fantasy Sports?

August 12 LuckyLady

Fantasy sports remains the domain of any male in the entire world. Ask anyone who loves sports chances are they’re in an office fantasy sports pool or league. Whether it’s for hockey, football, basketball, soccer, baseball, rugby, or even cricket, you name it and there’s a fantasy sports league dedicated to that particular sport. This is the poor man version of sports monopoly because in fantasy sports there is the ability to trade, cut, and sign players, like a real sports owner. Except you don’t really own them. 
So each participant builds their own team that compete against other fantasy owners based on statistics generated by the real individual players or teams of a professional sport. Then the points are compiled and total tallied by a select manager or over seer. Whether it’s being manually calculated or done by computer there’s always a commissioner of sorts who tallies the total.
There’s an estimated 32 million in North America alone who participate in this form of “gambling” including 12 year olds and up. Its growing by 50% the last several years and is a staggering $3-$4 billion industry in the sporting world.

Before the internet fantasy sports were mainly composed of young adolescence or office workers playing against each other to break the monotony of working in the office cubicle. Then the internet came in the late 90’s which created a huge boom in the market. The reason being was that statistics could be compiled much quicker online and news + information was accessible. Imagine the old timers having to read the papers the following day then contact each other by phone to compare results…haha! What goes up must come down though. In 2001 the bubble burst for the high flying internet companies with fantasy sports companies like Fanball.com and Rotonews.com going bankrupt.

With the growth of the industry, fantasy has branched out to include non-sports related games focused on politics, celebrity gossip, movies, and reality TV.

It’s important to note that while all poker sites were banned in the United States with the Unlawful Internet Gambling Enforcement Act Of 2006 which was signed into law on October 13, 2006 by President George W. Bush. Fantasy sports remained relatively unscathed. The act makes transactions from banks or similar institutions to online gambling sites illegal, with the notable exceptions of fantasy sports, online lotteries and horse/harness racing. The main sticking point is that all prizing must be determined in advance of the competition and can not be influenced by the fees or number of participants otherwise it would be deemed gambling and thus illegal.

Even with a few minor or major setbacks depending on how you look at it presently fantasy sports have exploded into a very popular past-time as millions of male and female join different leagues every single day.

Here’s a list of fantasy sports:

• Fantasy baseball
• Fantasy cricket
• Fantasy football (American)
• Fantasy football (Australian rules football)
• Fantasy football (Association)
• Fantasy basketball
• Fantasy golf
• Fantasy hockey
• Fantasy Auto Racing
• Fantasy Sports stock simulations
• Fantasy professional wrestling
• Fantasy Congress
• Fantasy Surfing
• Daily Fantasy Sports
• Fantasy F1
• Fantasy MMA

Before you get involved with it please read an interesting article on a famous poker player’s staggering losses on fantasy sports. Read up on Eric Lindgren: http://www.bluff.com/magazine/broken-the-erick-lindgren-story-6094/

 

 
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