Mark Cuban Invests in Daily Fantasy Sports Data Business

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Mark Cuban is purchasing a company that caters to your fantasy that is daily market, a good sign for players who regularly be involved in the contests.

Billionaire business owner Mark Cuban is the outspoken owner of the NBA’s Dallas Mavericks and renowned for appearing on ABC’s ‚Shark Tank.‘ The tycoon made his fortune when you’re in front 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 use to increase their DFS performance, announced this week that Cuban has made an investment that is undisclosed the business.

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

Cuban expressed his excitement in joining the ongoing company since well. ‚The explosive growth of fantasy sports, and its participation with new groups of competition like eSports, advances the significance of high-end resources like the platform provided by Fantasy laboratories,‘ Cuban said.

Bullish Maverick

Cuban’s interest in DFS comes at a somewhat surprising time, taking into consideration the coast-to-coast legal battles daily fantasy operators are involved in.

From New York to Ca, 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.

Ny Attorney General Eric Schneiderman recently ordered DraftKings and FanDuel to end accepting wagers from hawaii’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 could likely lead both DFS platforms into bankruptcy.

Fantasy Labs is of interest to investors, because it provides them ways to enter the marketplace without actually offering daily fantasy contests.

Fantasy Labs is a third-party tool that offers users added research and leverage in selecting their rosters on DFS websites.

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

‚It (day-to-day fantasy sports) has made watching our games on TV more enjoyable,‘ the NBA owner said recently. ‚Hopefully, the stupidity and hypocrisy in a few states will be cleared up into 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’ll take a moment for the courts to conquer the grandstanding by a few region attorneys, but once that happens I think we will have a slow but certain availability of gambling throughout the country,‘ Cuban said, jabbing Schneiderman right where it hurts.

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

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

Las Vegas Casino Revenues Up for Fifth Year in a Row

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

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

This week the Nevada Gaming Control Board reported the town’s 5th consecutive year for increases as a whole casino revenue.

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

The figures illustrate the shift away from reliance purely on video gaming, which comprised just 43.2 percent of the total haul, 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 for the 41 million Vegas visitors in 2014 came primarily to gamble, according to the research, although 71 percent put at the least one bet during their stay.

Changing Market

Alternatively, the multitudes are coming for the non-gaming amenities: the restaurants, the nightclubs and pool parties, the shopping, and perhaps even for the daring feats such as for instance the Stratosphere’s bungee jump from 829 foot. Gambling, this indicates, is really century that is last.

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

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

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

Caesars Spoils the Party

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

Caesars‘ predicament aside, the mood 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 finish of 2016, a year that is expected to break visitor records once again.

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

As the big Strip hotels slashed their prices being a reaction to the recession, downtown casinos were forced to go also lower in order to fill rooms at any cost.

But now, in a happier financial weather, the Strip rates are up while the casinos of Fremont Street have actually reasserted themselves due to the fact budget alternative Vegas experience.

Dutch Online Gambling Reforms Get Sudden Tax Migraine

Dutch Parliament in The Hague, where amendments were recommended towards the Remote Gambling Act that may doom the entire process to failure. (Image:

Holland’s gambling reforms, which make an effort to modernize the Dutch on line and land-based gaming markets, have actually been slow-moving, to say the smallest amount of.

Drawn up in 2013 to overhaul the nation’s 50-year-old existing laws, they were at first anticipated to be rubber-stamped in belated 2014, but the Dutch Remote Gambling Act continues to be being debated by committee in the reduced House, with no end in sight.

It’s a shame, because foreign operators are lining around be part of what is actually a huge online gambling revolution, or at least these were.

The fly that is latest in the ointment is the fact that the 2 ruling coalition parties seemed this week to have 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 on the web and land-based operators.

Online Gaming Searching Grim

It had been enough to create leading gaming that is dutch tear their locks down. One such Netherlands video gaming lawyer, 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 I think interest in industry will seriously decrease if and whenever these motions pass parliament,‘ he said.

Because perhaps the one overriding goal regarding the gaming that is remote was to channel Holland’s many enthusiastic online gamblers away from the overseas markets in order to better protect consumers.

Since the nation currently has no licensed online gambling websites whatsoever, it would be fair to express that 100 percent of Dutch online gamblers engage with these markets, which accumulates to an estimated 1.5 million adults.

The goal of the bill ended up being to achieve a ‚channelization rate‘ of 80 % away from the market that is offshore toward the brand new licensed operators.

European Commission Supports Differentiation

A tax rate of 20 percent was deemed to be a realistic means of achieving these aspirations. Overtaxing operators prevents them from competing efficiently with their unlicensed counterparts, which means the players will simply go where the product is more inviting.

It seems that the politicians can be bowing to pressure from litigation launched year that is last 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 takes that differentiation as legal, and is happy to keep it up to specific member states to choose, as was reaffirmed in 2014 by a land-based litigants case against the Danish licensing regime.

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

Research by Holland Casino recently recommended that previous projections may have underestimated the scale associated with Dutch online gambling market and it might be worth over €1b ($1.1 billion) each year.

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