ATLANTIC CITY, N.J. (AP) — An analyst says as many as 11 states may adopt regulations permitting and regulating daily fantasy sports by the end of this year.
Chris Grove of Narus Advisors says six states have passed bills to regulate daily fantasy sports so far, and five more may do so soon.
The contests allow people to deposit money into accounts, create fantasy rosters of sports teams by selecting real players and compete against other contestants based on the statistical performances of those players to win money. Proponents say it's a game of skill, not chance, and shouldn't be regulated the way casinos are, but many states consider them to be forms of gambling.
About 35 states have introduced legislation addressing daily fantasy sports.