DraftKings has recently come under fire for their betting platform, DraftKings Roulette. This platform allows users to bet on the outcomes of individual NFL games.
This has raised concerns about whether or not DraftKings is breaking gambling lAWS.
DraftKings has released a statement saying that their Roulette platform is not meant to be a gambling site, but rather an entertainment site. They argue that users are not actually betting on the results of individual games, but instead are betting on the potential outcomes of those games.
They contend that this is not a form of gambling because there is no expectation of profit or loss.
However, the fact that users can bet on the outcomes of individual games raises legal questions. If a user bets $10 on the Green Bay Packers to win, and the Packers lose, does that user have any legal recourse? If so, what redress does he or she have? These are difficult questions to answer and could lead to legal challenges for DraftKings.
The fact that DraftKings Roulette is available at all raises further legal questions. DraftKings is a paid online service and as such is subject to gambling lAWS in most jurisdictions.
If Roulette is classified as gambling, then DraftKings would be in violation of those lAWS and could face fines or even closure.
It remains to be seen whether or not DraftKings Roulette will lead to any legal challenges, but given the concerns raised by this platform it is something that investors should keep an eye on.
