The launch of a new form of betting on football games has evoked interest of lawmakers in Pennsylvania and could possibly be introduced within the state’s casinos if approved.
A Las Vegas-based company called USFantasy Sports has launched a novel model for betting on NFL players in the state, moving away from the currently prevalent daily fantasy football offering. This format is based on the pari-mutuel betting model that has been in use for dog and horse racing.
Under pari-mutuel betting, bettors place bets and win based on individual players’ performance rather than building fantasy teams with players where winnings are based on the overall scores achieved by these teams.
USFantasy Sports
The Nevada Gaming Control Board approved the pari-mutuel model earlier this year paving the way for the introduction of this form of betting for the first time. Nevada gaming authorities have declared daily fantasy sports to be gambling and also raised concerns over reports that 99 percent of winnings are taken by top 2 percent of the players.
Pennsylvanian lawmaker George Dunbar who serves on the state’s House Gaming Oversight Committee has expressed interest in introducing the new model to the state and will be monitoring its progress in Nevada. If it proves to be successful, the legislator has said that i could possibly be introduced for discussions later this year.
Under the new model, USFantasy Sports will release opening odds for various events tied to the performance of individual NFL players just like it’s done for horse races. Events are based on results such as which of the quarterbacks or running backs would garner the most yards passing or rushing. Bettors bet on individual players’ performance – whether they would come in first, second or third.
The amount of the winnings depends on the pool created by the bettors and the performance of the player. Other advanced betting options such as exactas or trifectas will also be available where bettors predict the outcome of two or more events. USFantasy Sports has indicated that it intends to expand into other games such as basketball, baseball, golf and hockey.
The company representatives had met with Dunbar earlier this year to discuss their offering and possibilities of its introduction to Pennsylvania. Dunbar had introduced a proposal last year to bring in daily fantasy sports under regulation by routing it through the 12 brick-and-mortar casinos operational in the state. The bill for this is currently pending approval and Dunbar does not want to add this new model to the proposal stating that it will confuse matters.
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