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Analysts Reviewed Successful Winter Meeting in Las Vegas with Fantasy Sports Trade Association as Organizer

Analysts Reviewed Successful Winter Meeting in Las Vegas with Fantasy Sports Trade Association as Organizer
Analysts Reviewed Successful Winter Meeting in Las Vegas with Fantasy Sports Trade Association as Organizer Fantasy sports is a growing trend in the American online casino industry with a record showing 7.8 percent rate increase in an annual basis over five years. The noted growth is a transformation of what was once just a small group of players who dedicated their resources to become a multibillion dollar business. There is the estimated number of 33.6 million players in 2013 participating in football, baseball, basketball and hockey fantasy sports leagues. There is a massive $3.3 billion revenue generation for the business particularly players spending on services, entry fees and products. According to Paul Charchian, President of Fantasy Sports Trade Association, “It is quite obvious that the industry is doing very well.” Charcharian welcomed over 320 participants during the opening of the winter meeting of the industry trade group held at the Bellagio. Charcharian also expressed how amazed he is with the association meeting being held at a luxury hotel and gaming venue on the Strip. He stated that the organization is all grown up as during one of their initial meetings long ago, they were so small that their conference was held at the Stardust before it was demolished. The exec also disclosed information that the association is also venturing out on the debut of its newest online casino website as it also prepares for its meeting for summer in San Francisco. There are several agenda during the two day meeting which will be featured among other events. The activities will include the board meeting of Fantasy Sports Trade Association, panel discussions regarding plans of bringing fantasy sports to Las Vegas Strip, live fantasy baseball draft to be broadcasted on SiriusXM radio and legal updates on emerging technology. The co-founder and President of Rotowire.com, Peter Schoenke and also board member of the association stated that the legal environment is doing great right now. The exec also revealed information that the association is currently lobbying for the changes of legislation in Arizona, Iowa and Washington in order to allow legal fantasy sports games in the mentioned states. According to Schoenke, they are expecting fantasy sports to be a legal online casino feature in Iowa and Arizona in spring 2014. The exec who is the moderator of the legal panel discussion of the recently concluded meeting also added that good news is on its way. ZwillGen PLL law firm founder, Marc Zwillinger gave cautions to delegates emphasizing that fantasy sports should stay away from conventional gambling. Zwillinger also disclosed the news that the bill drafting of Coalition to Stop Internet Gaming is set to expand its federal Wire Act and with this will include fantasy sports in their restriction. He added that these are very dangerous times. On the other hand, Glenn Colton, partner and legal practitioner in Dentons U.S. LLP, is quite hopeful that fantasy sports will be exempted from the Unlawful Internet Gambling Enforcement 2006 Act. Nonetheless, he too emphasized that anything could potentially happen by this time. Colton added that fantasy sport is not at all betting like any other online casino features. He emphasized that it is skill based and not wagering like other legislative bodies consider it. There are various events which took place during the meeting especially when a media company based in New York used it as the venue to launch its television network accessible 24/7. The network dedicated to fantasy sports by Anthem Media Group Inc. is airing on the 4th of March 2014 in North America. According to the Chief Strategy Officer of Fantasy Sports Network, Louis Malone, the fantasy sports industry growth is hard not to notice. It is obviously growing much more rapidly. The industry is likewise arguably larger than any other online casino businesses and those of underlying sports themselves. Anthem Media is hoping to reach more viewers and audiences estimated 33 million people based in North America alone who are into fantasy sports. Malone added this is the time for a multifaceted fantasy sports media property.

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