Weeks following a court decision that blocks legal sports betting in New Jersey, the state has chosen to offer daily fantasy sports betting in Atlantic City casinos as an alternative.
The state Division of Gaming Enforcement announced that the pilot program will begin April 22, and casinos will be permitted to offer fantasy sports tournaments or contests, either by themselves or in partnership with fantasy sports providers.
“The casinos’ vast customer base and the ability to have contest winners utilize the casino cage to accept entry fees for fantasy sports tournaments and payout winnings provides an exciting opportunity to bring fantasy sports tournaments to Atlantic City,” said Director David Rebuck, according to the New Jersey Record. “We see this as an added amenity, and beneficial to the casinos and their customers.” Many Casinos are ready to get on board, representatives from Yebo Yes Casino have stated that they would “love to host fantasy football as a replacement for sport leagues. Many casinos and fans see this as a good replacement for the beloved sports wagers.”
However, commentators are already concerned about whether daily fantasy sports wagering is a violation of federal sports law, a topic that has garnered a great deal of attention as of late. Daily sports betting may be incongruous with existing laws that only exempt season-long fantasy sports wagering from gambling rules. In addition, the casinos will be permitted to offer fantasy sports betting on the grounds or online, giving players the potential to make wages even if they live outside the state. This may raise further questions about regulations and taxation.
Dissolving Your Business: Essential Legal Steps to Protect Your Interests
If you’re considering closing your business, it’s crucial to understand that simply shutting your doors does not end your legal obligations. Unless you formally dissolve your business, it continues to exist in the eyes of the law—leaving you exposed to ongoing liabilities such as taxes, compliance violations, and potential lawsuits. Dissolving a business can seem […]
The Role of Corporate Restructuring in Mergers & Acquisitions
Contrary to what many people think, corporate restructuring isn’t all doom and gloom. Revamping a company’s organizational structure, corporate hierarchy, or operations procedures can help keep your business competitive. This is particularly true during challenging times. Corporate restructuring plays a critical role in modern business strategy. It helps companies adapt quickly to market changes. Following […]
Crypto Enforcement: A Former Prosecutor’s Warning to Criminals and the Public
Cryptocurrency intimidates most people. The reason is straightforward. People fear what they do not understand. When confusion sets in, the common reaction is either to ignore the subject entirely or to mistrust it. For years, that is exactly how most of the public and even many in law enforcement treated cryptocurrency. However, such apprehension changed […]
Understanding Chattel Paper: A Key Component in Secured Transactions
Using chattel paper to obtain a security interest in personal property is a powerful tool. It can ensure lenders have a legal claim on collateral ranging from inventory to intellectual property. To reduce risk and protect your legal rights, businesses and lenders should understand the legal framework. This framework governs the creation, sale, and enforcement […]
For years, digital assets operated in a legal gray area, a frontier where innovation outpaced the reach of regulators and law enforcement. In this early “Wild West” phase of finance, crypto startups thrived under minimal oversight. That era, however, is coming to an end. The importance of crypto compliance has become paramount as cryptocurrency has […]
Supreme Court and Title VII: Implications for Reverse Discrimination
Earlier this month, the U.S. Supreme Court issued a decision in Ames v. Ohio Department of Youth Services vitiating the so-called “background circumstances” test required by half of federal circuit courts.1 The background circumstances test required majority group plaintiffs pleading discrimination under Title VII of the Civil Rights Act to meet a heightened pleading standard […]
No Aspect of the advertisement has been approved by the Supreme Court. Results may vary depending on your particular facts and legal circumstances.
Sign up to get the latest from our attorneys!
Explore What Matters Most to You.
Consider subscribing to our Firm Insights mailing list by clicking the button below so you can keep up to date with the firm`s latest articles covering various legal topics.
Stay informed and inspired with the latest updates, insights, and events from Scarinci Hollenbeck. Our resource library provides valuable content across a range of categories to keep you connected and ahead of the curve.
Let`s get in touch!
Sign up to get the latest from the Scarinci Hollenbeck, LLC attorneys!
