Phils Fantasy Sports
(Maximum Sports Channels – Phil Naessens
) It’s been a while since I’ve written in this space. I’ve been busy moving, wrapping up my shows for the season and getting ready for my summer tennis gig in Maine. I still enjoy receiving your emails and look forward to replying to you as time allows. Today I would like to answer a few of your questions publicly rather than privately….
Is regulating Daily Fantasy Sports (DFS) a good thing? If not than why not?
Thanks for the question.
In my opinion the answer is yes. Absolutely yes regulating DFS is a good thing. There are a couple of reasons why I say this;
1) Over the past several months some DFS sites went belly up and left gamblers wondering where their money went. Player funds should be segregated and the Fantasy Sports Trade Association (FSTA) was supposed to be the ones to make sure of this. Obviously someone dropped the ball somewhere and regulation by either a state by state or even Federal government audit should prevent this from hopefully ever happening again.
2) For regulation to actually work each state or the Federal Government will be requiring DFS owners to apply for a license to operate their gambling enterprise legally. That means a substantial yearly licensing fee will be in order. While some within the Fantasy industry are trying to fight paying these fees I personally believe this is a good thing. A company able to pay these fees offers instant credibility and let’s face it the DFS industry is sorely lacking in the credibility department these days. Of course that will eliminate many of the smaller DFS sites but protecting the consumer should be the main priority here.
3) In some instances season long Fantasy Sports leagues offering prize money have also been affected. There was a time when I would have railed against this but the more I thought about it regulating these providers makes sense. At the end of the day as a Daily Fantasy Sports/Season Long League player I want to know that my money is safe and that I am playing in a fair game and I believe the only way to achieve this is for regulation and third party oversight.
If the DFS industry is forced into some type of government regulation should DFS tout services and writers offering paid advice also be licensed?
Thanks for the question.
While the DFS experts and writers are technically playing against us I really don’t see the need to regulate them. It’s pretty simple; either their advice is good or it isn’t. If you are paying for one of the premium services and they aren’t helping their customers then they will be out of business pronto. If you are consuming free articles and they aren’t very helpful then stop reading them.
I suppose there have been cases where writers offer picks in their columns or on radio shows and then for whatever reason don’t wind up playing that particular player in their lineups. I get how that can sometimes look shady. What people might not understand is writers are submitting their work in the morning; a LOT of things can happen during the course of the day to influence our picks and perhaps even force us to change our opinion about a certain player we recommended in the morning.
The best thing to do with these morning published columns is to use them as a sort of idea generator. Add the players you like to your list, scratch the ones you don’t like and begin working from there. That’s what the pros do and that’s what you should be doing also but regulating them or forcing them to undergo some type of oversight would be silly in my opinion.
Good luck Fantasy Owner!