The Los Angeles Times recently published an interesting article about the rising popularity of daily payout fantasy sports websites.
Unlike traditional fantasy sports, bettors can select players to bet on every day and the payouts are immediate.
From the article:
"One of the things we saw at Yahoo is that in the season-long (fantasy) games, 50% to 60% of the audience is no longer in contention by midseason," says former Yahoo! fantasy sports guru David Geller says. "Traffic starts to dip, and interest starts to wane."
The objective of these daily games is to hook bettors 365 days a year.
Daily fantasy sports emerged as an instant-gratification alternative for many Internet bettors after the federal government cracked down on illegal online poker ventures in 2011.
The Unlawful Internet Gambling and Enforcement Act of 2006 (UIGEA), which establishes the legal framework for online gambling, supports any fantasy or simulation sports game that:
“Has an outcome that reflects the relative knowledge of the participants, or their skill at physical reaction or physical manipulation (but not chance), and, in the case of a fantasy or simulation sports game, has an outcome that is determined predominantly by accumulated statistical results of sporting events.”