Mark Cuban is buying a company that caters to your fantasy that is daily market, a good indication for players who regularly participate in the contests.
Billionaire entrepreneur Mark Cuban may be the owner that is outspoken of NBA’s Dallas Mavericks and renowned for appearing on ABC’s ‘Shark Tank.’ The tycoon made their fortune when you are ahead of the curve that is tech now Cuban’s focusing their attention on another burgeoning industry: day-to-day dream sports (DFS).
Fantasy Labs, a platform of proprietary analytical data and tools that players can use to increase their DFS performance, announced this week that Cuban has made an undisclosed investment in the business.
‘We attracted a significant quantity of interest from outside investors,’ Fantasy Labs said in a statement. ‘We identified Mark as the ‘dream investor’ … Bringing on Mark is a move that is strategic we couldn’t avoid.’
Cuban expressed his excitement in joining the ongoing company as well. ‘The explosive growth of fantasy recreations, and new categories to its involvement of competition like eSports, escalates the need for high-end resources like the platform offered by Fantasy Labs,’ Cuban said.
Cuban’s interest in DFS comes at a significantly surprising time, taking into consideration the coast-to-coast legal battles daily dream operators are currently engaged in.
The conversation to determine whether DFS constitutes skill vs. luck-based games has proponents and antagonists vociferously voicing opinions on both sides of the debate from New York to California.
New York Attorney General Eric Schneiderman recently ordered DraftKings and FanDuel to avoid accepting wagers from the state’s residents.
The Empire State AG is also attempting to fine the operators up to $5,000 per situation for previous entry buy ins, a potential total of $3 billion should all of the 600,000 nyc cases receive the penalty that is full.
That could likely lead both DFS platforms into bankruptcy.
Fantasy Labs wil attract to investors, them a way to enter the market without actually offering daily fantasy contests as it gives.
Fantasy Labs is a tool that is third-party provides users added research and leverage in choosing their rosters on DFS websites.
Regardless, Cuban thinks Schneiderman and one other handful of states trying to punish the budding market need to rethink their ways.
‘It (day-to-day fantasy sports) has made viewing our games on TV more pleasurable,’ the NBA owner said recently. ‘Hopefully, the stupidity and hypocrisy in a few states will be cleared up within the courts shortly.’
During an interview this week with Fortune magazine, Cuban said he believes gambling will become legalized in the united states in the coming years and that online gambling might lead the way.
‘It’s inevitable. It will take a moment for the courts to overcome the grandstanding by a district that is few, but when that happens I think we will have a slow but sure availability of gambling over the nation,’ Cuban said, jabbing Schneiderman right where it hurts.
Cuban has been snagging up entertainment and gaming organizations recently. He’s a part-owner of Virtuix Omni and Magic Leap, two organizations progress that is making the virtual and blended reality areas, because well as Unikrn, a platform much like DFS, but geared towards eSports.
Like most capitalist that is smart Cuban invests just in companies and markets he believes are positioned for growth. Despite the ongoing legal saga surrounding DFS, Cuban’s interest is certainly a good indicator for the industry that is controversial.
Vegas Casino Revenues Up for Fifth Year in a Row
The crowds are back in vegas while the city records its fifth yearly revenue enhance for 2015. (Image: travelblog.viator.com)
Las Las Vegas has staged many a celebrity revival and now it’s staging certainly one of its very own. The city which was once dubbed ‘ground zero associated with globe crisis that is economic’ due to the fact downturn of 2008 crashed its property market and ravaged its casino industry, continued its bounce back throughout 2015.
This week the Nevada Gaming Control Board reported the town’s 5th consecutive year for increases as a whole casino revenue.
The state’s major casinos reported a 2.9 % boost in profits over 2014, at $24.6 billion, even though this continues to be 2.6 percent lower than the 2007 pre-recession all-time record high.
The figures illustrate the shift away from reliance purely on gaming, which composed just 43.2 percent of the total haul, the industry’s lowest-ever percentage.
While the Las Vegas Convention and Visitors Authority (LVCVA) recorded an all-time record for visitor numbers a year ago, a recent LVCVA study advised fewer individuals are coming to Vegas solely to gamble, or even to wager cash at all.
Just 12 percent associated with 41 million Vegas visitors in 2014 came primarily to gamble, in line with the extensive research, although 71 percent put at least one bet during their stay.
Instead, the multitudes are coming for the amenities that are non-gaming the restaurants, the nightclubs and pool parties, the shopping, and possibly even for the daring feats such as the Stratosphere’s bungee jump from 829 feet. Gambling, this indicates, is really so century that is last.
‘It’s a sign of the changing market,’ David Schwartz, director of the University of Nevada, Las Vegas, Center for Gaming Research, told NevadaAppeal.com this week. ‘Food is growing and gaming as a percentage is shrinking. The things I’m hearing from people is they spend more on food and activity than gambling. This is what the visitors seem to want.’
And when most of the accounting had been done, Nevada’s casinos still showed a loss that is net of $661.8 million for the year, even though this figure was down 11 percent compared to the previous 12 months.
It’s very nearly as if the loss leaders are now completely reversed, with gaming being the shill for several the other stuff that is money-making now lures site visitors to Sin City, instead of the other way around.
Caesars Spoils the Party
A lot of this loss can be attributed to Caesars and the interest paid on its billions of bucks of debt, and to the writing out of assets included in its bankruptcy proceedings.
Caesars’ predicament aside, the mood is positive. The industry’s losses have actually been narrowing every year, and analysts are optimistic that gaming may well find itself in the black again by the conclusion of 2016, a 12 months that is anticipated to break visitor records once again.
Meanwhile, the casinos that are off-Strip going from strength to strength. Downtown was hit specially difficult by the downturn that is economic.
As the big Strip hotels slashed their prices as a response to the recession, downtown casinos were forced to go also lower in order to fill rooms at any cost.
But now, in a happier financial environment, the Strip rates are up and also the gambling enterprises of Fremont Street have reasserted themselves as the budget alternative Las Vegas experience.
Dutch Online Gambling Reforms Get Sudden Tax Migraine
Dutch Parliament within The Hague, where amendments are suggested towards the Remote Gambling Act that may doom the entire procedure to failure. (Image: euro-islam.info)
Holland’s gambling reforms, which aim to modernize the Dutch on the web and land-based video gaming markets, have been slow-moving, to state the least.
Drawn up in 2013 to overhaul the nation’s 50-year-old laws that are existing they were initially anticipated to be rubber-stamped in belated 2014, nevertheless the Dutch Remote Gambling Act is still being debated by committee in the low House, with no end in sight.
It’s a shame, because foreign operators are lining up to be element of what is actually a online that is huge gambling, or at least these were.
The latest fly in the ointment is the fact that the 2 ruling coalition parties seemed this week to own suddenly and unexpectedly flip-flopped on the 20 percent tax rate for online gambling companies. Instead, they propose a blanket 29 percent price for both on line and land-based operators.
Online Gaming Looking Grim
It had been enough to create leading Dutch gaming lawyers tear their locks down. One Netherlands that is such gaming, Justin Franssen of Kalff Katz & Franssen, told eGaming Review that there was now a ‘real likelihood’ that the Dutch online video gaming market would fail.
‘Operators have discovered their lessons in other jurisdictions and I think desire for the market will decrease if and seriously when these motions pass parliament,’ he said.
Because possibly the one overriding goal associated with remote gaming bill would be to channel Holland’s many enthusiastic online gamblers away from the overseas markets in order to better protect consumers.
Since the nation currently doesn’t have licensed online gambling websites whatsoever, it might be fair to express that 100 percent of Dutch on the web casino club player gamblers engage with these areas, which can add up to an approximated 1.5 million adults.
The goal for the bill ended up being to achieve a ‘channelization rate’ of 80 % far from the market that is offshore toward the new licensed operators.
European Commission Supports Differentiation
A taxation price of 20 percent was deemed become a realistic method of achieving these ambitions. Overtaxing operators prevents them from competing effectively with their unlicensed counterparts, which means the players only will go where the item is more desirable.
It appears that the politicians might be bowing to pressure from litigation launched year that is last land-based video gaming relationship Euromat, which complained to the EC that the tax differentiation for land-based and online gaming organizations in Holland violated EU law.
Except it does not. The EC officially accepts that differentiation as legal, and is happy to leave it up to individual user states to choose, as was reaffirmed in 2014 by a land-based litigants instance up against the Danish licensing regime.
At worst, the brand new proposal may help to ascertain another failed European online gambling market. At best, it will be shot down, and certainly will wait the process yet further.
Research by Holland Casino recently recommended that previous projections may have underestimated the scale of the Dutch online gambling market and that it might be worth over €1b ($1.1 billion) per year.