Mark Cuban Invests in Daily Fantasy Sports Data Business

Mark Cu<span id="more-4214"></span>ban Invests in Daily Fantasy Sports Data Business

Mark Cuban is purchasing a company that caters to your day-to-day fantasy sports market, an excellent sign for players who regularly participate in the contests.

Billionaire business owner Mark Cuban may be the outspoken owner of the NBA’s Dallas Mavericks and renowned for appearing on ABC’s ‘Shark Tank.’ The tycoon made their fortune when you’re ahead of the curve that is tech and now Cuban’s focusing their attention on another burgeoning industry: day-to-day dream sports (DFS).

Fantasy laboratories, a platform of proprietary analytical information and tools that players can used to increase their DFS performance, announced this week that Cuban has made an undisclosed investment in the business.

‘We attracted a significant amount of interest from outside investors,’ Fantasy laboratories said in a statement. ‘We identified Mark as the ‘dream investor’ … Bringing on Mark is a move that is strategic we couldn’t pass up.’

Cuban expressed their excitement in joining the company because well. ‘The explosive growth of fantasy recreations, and new categories to its involvement of competition like eSports, escalates the requirement for high-end resources like the platform provided by Fantasy Labs,’ Cuban said.

Bullish Maverick

Cuban’s interest in DFS comes at a notably astonishing time, taking into consideration the coast-to-coast legal battles daily fantasy operators are currently engaged in.

The conversation to determine whether DFS constitutes skill vs. luck-based games has proponents and antagonists vociferously voicing opinions on both sides of the debate from New York to California.

Nyc Attorney General Eric Schneiderman recently ordered DraftKings and FanDuel to stop accepting wagers from their state’s residents.

The Empire State AG is also attempting to fine the operators up to $5,000 per case for previous entry buy ins, a potential total of $3 billion should all of the 600,000 New York cases receive the full penalty.

That would likely lead both DFS platforms into bankruptcy.

Fantasy laboratories is of interest to investors, them a way to enter the market without actually offering daily fantasy contests as it gives.

Fantasy laboratories is a third-party tool that provides users added research and leverage in choosing their rosters on DFS websites.

Regardless, Cuban thinks Schneiderman and one other handful of states attempting to punish the budding market have to rethink their ways.

‘It (daily fantasy sports) has made viewing our games on TV more pleasurable,’ the NBA owner said recently. ‘Hopefully, the stupidity and hypocrisy in a states that are few be cleared up within the courts shortly.’

Nationwide Gambling

This week with Fortune magazine, Cuban said he believes gambling will become legalized across the country in the coming years and that online gambling might lead the way during an interview.

‘It’s inevitable. It will take some time for the courts to conquer the grandstanding by a district that is few, but as soon as that occurs I do believe we will have a slow but certain availability of gambling across the country,’ Cuban said, jabbing Schneiderman right where it hurts.

Cuban has been snagging up entertainment and gaming organizations recently. He’s a part-owner of Virtuix Omni and Magic Leap, two businesses progress that is making the virtual and mixed reality areas, as well as Unikrn, a platform just like DFS, but geared towards eSports.

Like any smart capitalist, Cuban invests just in companies and markets he believes are placed for growth. Despite the ongoing legal saga surrounding DFS, Cuban’s interest is definitely a positive indication for the industry that is controversial.

Nevada Casino Revenues Up for Fifth in a Row year

The crowds are back in Las vegas, nevada whilst the town records its fifth revenue that is yearly for 2015. (Image:

Las Las Vegas has staged many a celebrity revival and now it is staging certainly one of its own. The city that has been once dubbed ‘ground zero associated with the globe economic crisis,’ due to the fact downturn of 2008 crashed its property market and ravaged its casino industry, continued its bounce back once again throughout 2015.

This week the Nevada Gaming Control Board reported the town’s fifth year that is consecutive increases as a whole casino revenue.

The state’s major casinos reported a 2.9 percent increase in profits over 2014, at $24.6 billion, although this is still 2.6 percent lower compared to 2007 pre-recession all-time record high.

The figures illustrate the shift away from reliance purely on gaming, which comprised just 43.2 percent of the haul that is total the industry’s lowest-ever percentage.

A recent LVCVA study suggested fewer people are coming to Vegas purely to gamble, or even to wager money at all while the Las Vegas Convention and Visitors Authority (LVCVA) recorded an all-time record for visitor numbers last year.

Only 12 percent associated with 41 million Vegas visitors in 2014 came primarily to gamble, in line with the extensive research, although 71 percent put at the least one bet during their stay.

Changing Market

Rather, the multitudes are coming for the amenities that are non-gaming the restaurants, the nightclubs and pool parties, the shopping, and perhaps even for the daring feats such as the Stratosphere’s bungee jump from 829 feet. Gambling, it appears, is so century that is last.

‘It’s a sign of the market that is changing’ David Schwartz, director regarding the University of Nevada, Las Vegas, Center for Gaming Research, told this week. ‘Food is growing and gaming as a percentage is shrinking. What I’m hearing from people is they save money on entertainment and food than gambling. This is exactly what the visitors seem to want.’

And whenever most of the accounting was done, Nevada’s casinos still revealed a loss that is net of $661.8 million for the 12 months, although this figure was down 11 percent compared to the previous 12 months.

It’s very nearly as if the loss leaders are now completely reversed, with gaming being the shill for many the other money-making stuff that now lures visitors to Sin City, as opposed to the other way around.

Caesars Spoils the Party

Much of this loss can be attributed to Caesars and the interest paid on its billions of bucks of debt, and to the writing down of assets as an element of its bankruptcy proceedings.

Caesars’ predicament aside, the feeling is good. The industry’s losses have actually been narrowing every year, and analysts are optimistic that video gaming may well find itself in the black once more by the end of 2016, a year that is expected to break visitor records once again.

Meanwhile, the casinos that are off-Strip going from strength to strength. Downtown was hit especially hard by the downturn that is economic.

As the big Strip hotels slashed their prices as a response to the recession, downtown casinos were forced to go even reduced in order to fill rooms at any cost.

But now, in a happier climate that is financial the Strip rates are up and also the casinos of Fremont Street have reasserted themselves once the budget alternative Las Vegas experience.

Dutch Online Gambling Reforms Get Sudden Tax Migraine

Dutch Parliament in The Hague, where amendments were recommended to the Remote Gambling Act that could doom the process that is whole failure. (Image:

Holland’s gambling reforms, which try to modernize the Dutch on line and land-based video gaming markets, have actually been slow-moving, to state minimal.

Drawn up in 2013 to overhaul the country’s 50-year-old existing laws, they were initially likely to be rubber-stamped in belated 2014, but the Dutch Remote Gambling Act is still being debated by committee in the reduced House, with no end in sight.

It’s a pity, because foreign operators are lining up to be part of what might be a online that is huge gambling, or at least these were.

The fly that is latest in the ointment is the fact that the two ruling coalition parties seemed this week to own suddenly and unexpectedly flip-flopped on the 20 percent tax rate for online gambling companies. Instead, they propose a blanket 29 percent price for both online and operators that are land-based.

Online Gaming Looking Grim

It was enough in order to make leading gaming that is dutch tear their locks out. One Netherlands that is such gaming, Justin Franssen of Kalff Katz & Franssen, told eGaming Review that there was now a ‘real likelihood’ that the Dutch online video gaming market would fail.

‘Operators have learned their lessons in other jurisdictions and we think fascination with industry will decrease if and seriously when these motions pass parliament,’ he said.

Because possibly the one overriding goal associated with the remote gaming bill was to channel Holland’s many enthusiastic online gamblers away from the offshore markets in an effort to higher protect consumers.

Since the country currently has no licensed gambling that is online whatsoever, it will be fair to state that 100 % of Dutch on the web gamblers engage with these areas, which can add up to a predicted 1.5 million adults.

The goal regarding the bill ended up being to achieve a ‘channelization rate’ of 80 percent far from the market that is offshore toward the brand new licensed operators.

European Commission Supports Differentiation

A taxation price of 20 percent was deemed to be a realistic way of achieving these ambitions. Overtaxing operators prevents them from competing effortlessly with their counterparts that are unlicensed which means the players only will go where the item is more desirable.

It seems that the politicians might be bowing to pressure from litigation launched last year by land-based gaming relationship Euromat, which complained to the EC that the tax differentiation for land-based and online gaming organizations in Holland violated EU law.

Except it does not. The EC formally accepts that differentiation as legal, and is happy to leave it as much as specific member states to choose, as was reaffirmed in 2014 by a land-based litigants situation up against the licensing regime that is danish.

At worst, the brand new proposal helps to establish another failed European online gambling market. At most useful, it will be shot down, and certainly will postpone the process yet further.

Research by Holland Casino recently suggested that previous projections may have underestimated the scale of the Dutch online gambling market and so it could possibly be worth over €1b ($1.1 billion) each year.

Leave a Reply

You must be logged in to post a comment.