Many people across the U.S. enjoy spending Sundays watching football. Over the past few months, commercials for daily fantasy sports gaming sites like FanDuel have become more and more common.
These sites have increased in popularity over the years due to a growing number of people participating in fantasy sports leagues with their friends and colleagues. Since the early 2000s, businesses like FanDuel and Draft Kings have been expanding at a rapid pace as a result of their advertisements and large cash prizes. According to a Forbes magazine article, the CEO of FanDuel said the company has more than 1 million paid, active users and will be paying out $2 billion in prizes this year. Not only has FanDuel’s business grown exponentially, but their money spent on TV advertisements has launched them into the top 10 of spenders nationwide.
The company grew from the original five co-founders to a business of 79 employees and pays out more than $10 million every week.
Though FanDuel is headquartered in New York, Attorney General Eric Schneiderman has tried to ban FanDuel from operating. However, a New York state appeals court temporarily allowed the company to continue operating.
With the backlash they have received in their home state, we propose FanDuel move their headquarters to Indiana.
Over the last decade, Indiana has shown time and time again that we are a business-friendly state with a strong workforce. Our unemployment rate is at the lowest it has been for the last 14 years. In fact, Indiana is a top-10 state in the nation for business, according to Forbes.
In order to be prepared for daily fantasy sports sites in our state, we will each be introducing legislation calling for basic consumer protections and transparency, so consumers who use fantasy sports sites in Indiana are protected. By adding some industry-accepted consumer protections, we hope to give all participants the assurance of a fair game while participating in these sites. We believe that sports drafting is a game of skill and not of chance.
Daily fantasy sports sites have become a part of the fan experience, and they add a new and exciting twist to the sports industry. We want to ensure that Hoosiers throughout the state who enjoy this popular activity can continue to do so. These sites give Hoosiers the ability to compete in one-day events and not worry about keeping up with a season-long league. It is our goal this session to let the daily fantasy sports world know that it is welcome in Indiana.
By adding some industry-accepted consumer protections, we hope to give all participants the assurance of a fair game while participating in these sites.
If you have any questions or concerns, please do not hesitate to contact us by phone or email. Rep. Morrison can be contacted at 800-382-9841 or firstname.lastname@example.org, and Sen. Ford can be contacted at 800-382-9467 or Senator.Ford@iga.in.gov.