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SportsTranscript
00:00 (upbeat music)
00:02 - Again, like you said, right?
00:03 Sports betting is held up in the courts
00:05 and it looks like potentially daily fantasy sports betting
00:08 could be held up in the courts.
00:09 The Florida Gaming Commission
00:11 sending letters to underdog prize picks and better,
00:15 telling them to cease and desist operations in the state.
00:17 You know, these are companies that are offering
00:19 that daily sports betting, those, you know,
00:21 those player props where maybe they're calling it
00:23 higher or lower instead of over under, you know,
00:25 companies like Giraffe Kings and FanDuel
00:27 have been outspoken in the fact
00:29 that they're not happy with that.
00:30 They don't want these companies coming into states
00:32 they're in, you know, Giraffe Kings and FanDuel
00:34 are paying millions of dollars in tax money
00:37 to a lot of these states they're operating legally in.
00:39 But yeah, I mean, we'll see if,
00:40 if Giraffe Kings and FanDuel
00:41 end up getting letters in Florida as well.
00:43 Obviously there is a gaming compact
00:45 that Hard Rock did come to terms with
00:47 with Governor Ron DeSantis,
00:49 which is currently in court for sports betting, right?
00:51 In that DC Circuit Court of Appeals
00:53 between West Flagler, the Seminole Tribe
00:55 and the US Department of the Interior.
00:56 So that's a case we'll talk about in a bit,
00:58 but yeah, just this DFS thing is gonna be interesting.
01:01 I mean, the Florida Gaming Commission
01:02 called it a game of skill.
01:04 That's kind of been the debate, right?
01:06 Is it gambling?
01:07 Is it a game of skill?
01:08 Or is it a game of chance?
01:09 There's been other states,
01:10 New York has had similar actions as Florida.
01:14 Wyoming also sent a cease and desist letter
01:16 to these DFS operators.
01:18 So yeah, we'll see what happens here.
01:19 But again, you know, in 2015,
01:21 Giraffe Kings and FanDuel had a similar situation
01:23 with Daily Fantasy Sports Betting,
01:25 went through the court system, they won.
01:26 Obviously are the behemoths they are today
01:28 because they kind of got a headstart.
01:30 Obviously they have great tech,
01:31 they offer great betting markets,
01:33 but they really had that headstart that was key for them.
01:36 And then having the tech and all the talent
01:38 behind their apps.
01:39 And so we'll see what happens with Giraffe,
01:41 you know, prize picks.
01:42 Underdog, Underdogs obviously made a significant aim
01:45 for itself, has a pretty significant
01:47 Daily Fantasy Sports customer base.
01:49 We've seen their massive numbers in Massachusetts
01:51 that are live right there with FanDuel and Giraffe Kings.
01:53 I mean, really battling them for DFS.
01:55 We'll see if they, you know, if they do end up going
01:57 the route of trying to secure sports betting licenses,
01:59 if they can make as big a jump as Giraffe Kings
02:01 and FanDuel have in terms of that crossover customers
02:04 where they were DFS then went to sports betting.
02:06 Obviously could be one and the same
02:08 depending what argument you have.
02:09 But yeah, this looks like it's gonna head to the courts.
02:11 I wouldn't be shocked, right?
02:12 It doesn't look like these companies are gonna shut down.
02:13 And so, you know, maybe the Florida Gaming Commission
02:16 and the state takes that next step.
02:18 You know, let's go through the courts to decide this.
02:20 But this situation isn't over, right?
02:22 There's plenty of states that are dealing
02:23 with kind of those similar gray areas with these companies.
02:26 They say, you know, why don't you go
02:28 after the bigger operators?
02:29 You know, but I think maybe as Dustin Galkor,
02:32 my colleague put it, what they should do is just say,
02:34 okay, we're willing to work with you.
02:35 We wanna, you know, do this legally.
02:37 Let's figure out how to do it.
02:38 You know, potentially it does go through the court systems,
02:39 decided there, but you know, some animosity clearly here
02:43 brewing between the Gaming Commissions and these states
02:45 and, you know, these DFS operators.
02:47 So we'll see where this goes,
02:48 but we'll be following that legal sports report.
02:50 (upbeat music)
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