The daily fantasy saga is a complete joke. Really, it is. It’s history repeating itself, and I love history lessons. Let’s go back to the Revolutionary War. Why did we fight to become the United States of America? No taxation without representation. We hated being taxed for goods from the British on our newfound North American continent. After we became a country, of course, money and greed prevailed—like every country this world has seen. So fast-forward to this behemoth of a crises our local and federal governments have in 2015: daily fantasy.
The only reason the New York Attorney General, state legislators, and our federal government are looking to ostracize daily fantasy is because they want a piece of the pie. State governments and the federal government want money. This is 100% about regulation. Like lotteries, casinos, horse racing and every other barter they can get their paws on.
New York Attorney General Eric Schneiderman lost the insider trading battle a few weeks ago against daily fantasy. Who likes losing? To combat, Schneiderman goes to the extreme and classifies daily fantasy as gambling. However, in New York horse racing is legal. Playing the lottery is legal. How do you classify between a game of luck and a game of skill? Your lottery number is already predetermined. It’s 100% luck. There is no bonus cash for the person with the better scratch off. Sorry my long fingernail friends.
Go up to any daily fantasy player at your local sports bar, and question their sports knowledge. I guarantee you they would claim they know more about a certain sport than your grandmother would. For that matter, they’d say they know more than their buddy sitting next to them. That’s not luck. They watch the games and they consider their knowledge a skill.
It all comes back to the Unlawful Internet Gambling Enforcement Act of 2006. This protected fantasy sports as a skill. Now a few years later, some select smart guys discover a few chinks in the system and condense a season game into a daily game. It’s genius, just like Uber, Lyft and Airbnb. They’ve changed the game. Get over it government. Pick a battle you have the right to win—like legalizing marijuana if you are so desperate for tax dollars.