DraftKings has long argued that its business, a daily fantasy sports game where users can win cash prizes in exchange for cash entry fees, is a game of skill (legal), not a game of chance (illegal). Now, DraftKings is preparing to cross over to the other side. The company is building a sports betting product, says CEO Jason Robins, who hopes that his startup will be ready if and when sports gambling is legalized in the United States. https://www.recode.net/2018/2/2/16964742/draftkings-sports-gambling-product-jason-robins  

“DraftKings and FanDuel have an early lead in identifying and serving a population of likely bettors. Both say they would welcome the change. DraftKings CEO Jason Robins told Bloomberg in November that it would consider all its options, including becoming a sports book, if the legal restrictions were lifted.” https://www.bloomberg.com/news/articles/2018-01-17/spread-of-legal-sports-betting-could-upend-daily-fantasy-sports

This is exactly why WI lawmakers need to oppose the legalization of Daily Fantasy Sports. “A new daily fantasy sports game that lets users hone in on a single NFL playoff game has some gambling experts wondering if the contest inches the industry closer to the territory of sports betting that remains illegal in most of the United States.” “Many of the new fantasy sports laws don’t even require states to approve new contests.” “None of these states really thought...

“Problem gamblers – no one knows how many exist or cost to the state. Labour deputy leader Tom Watson derides admission and says his party will ‘ask the questions the government is failing to ask’” https://www.theguardian.com/society/2017/dec/05/problem-gamblers-no-one-knows-how-many-exist-or-cost-to-the-state  

Here is an excellent insight into how the commercial sports gambling operation works by a gambling insider and why the illegal market grows under a system of legalization: https://www.cdcgamingreports.com/commentaries/its-too-soon-to-start-high-fiving-over-legal-sports-betting/

Billionaire investor George Soros holds stake in DraftKings Yogonet, May 13, 2020 The 89-year-old philanthropist is one of several big-name investors to receive shares in the sports-betting company since it went public through a reverse merger on April 23. According to a filing last week with the U.S. Securities and Exchange Commission, Quantum Partners, an investment vehicle run by Soros Fund Management, holds 2.7 million DraftKings Class A shares. Soros Fund Management oversees investments on behalf of the 89-year-old philanthropist...

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