fantasy leagues and nfl betting is big business
finance
A couple of decades ago, NFL fantasy leagues and NFL betting were obscure, secretive enterprises thriving in the underbelly of society, satiating the perverse competitive cravings of the zaniest of football disciples.
Somewhere along the way, fantasy leagues erupted into a ubiquitous international phenomenon. Only the office pool rackets during spring’s March Madness/NCAA basketball postseason can rival NFL fantasy leagues. But whereas March Madness lasts for just the month of March, fantasy leagues comprise the entire season, and along with NFL gambling, rake in billions. To the NFL’s and NCAA’s hollow and hypocritical protestations, fantasy leagues have amplified the popularity of their respective sports, and they know this.
According to the American Gaming Association, NFL betting and fantasy leagues contribute considerably to the $12 billion online gambling industry. The problem is that gambling is illegal in the United States, sans Nevada, but the laws are under-enforced and have proven to be relatively unenforceable thus far. The United States House of Representatives overwhelmingly voted for a bill to crack down on Internet gambling, providing federal agents the firepower to decimate the ranks of off-shore and overseas-operated gambling sites on the Internet. It is part of the federal government’s declared war on a mostly foreign-operated enterprise that believes it is beyond the arms of U.S. law enforcement, although the bulk of its revenue comes from ravenous American gamblers. An estimated 23 million Americans play casino games such as poker and blackjack online, according to the Poker Players Alliance.
The U.S. Department of Justice declares that online gambling is illicit under the Federal Wire Act of 1961, a law that was enacted by Attorney General Robert F. Kennedy to curtail the scurrilous activities of organized crime families. The Unlawful Internet Gambling Act, passed by the House this past July, would ostensibly sharpen the teeth on the 1961 law by barring banks and credit card companies from collecting for Internet casinos.
Gambling advocates charge the government with selective enforcement at best, and blatant hypocrisy at its worst. They say the current bill provides exceptions for state-regulated lotteries such as Powerball and horse racing while cracking down on casino games.
Michael Bolcerek, president of the Poker Players Alliance, tells reporters: “Prohibitions don’t work. Poker players will find a way to play. This won’t stop anything. It will just drive people underground.”
“This bill’s advocates proclaim the immorality of online gaming and shout it will destroy our society — unless you’re betting on horse races,” declared U.S. Rep. Shelley Berkley [D-Nev.] on the floor of the House during the bill debate. – terry shropshire
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