Colorado is seriously considering clamping down on fantasy games that are like legal sports betting. From the regulators’ perspective, they seem to resemble legalized sports wagering. The Colorado gaming division convened a discussion on the establishment of regulations for certain aspects of fantasy game regulation in the state. The discussion revolved around the alleged prompt resolution of the issue by certain regulators on October 27, 2023.
According to the latest sports news, Pick’ems, a type of wager in which players choose between two or more outcomes in the hope of receiving a payout from the house, appears to be prohibited by this definition because some businesses offer them. Officials from FanDuel, PrizePicks, and some other companies participated in a gaming wing of the Colorado discussion for suggested regulations with regards to fantasy games. Certain controversial aspects were discussed in the case of the regulators’ suggestions. However, the new amendments have brought about a certain amount of transparency.
According to Andrew Winchell, the Director of Government Affairs at FanDuel, fantasy contests are not in the best interest of the state or the administrators, and they should be discontinued. However, there are certain operators, such as PrizePicks and Underdog, who disagree with the concept.
Attorney Josh Kirschner, who is representing PrizePicks, believes that the Colorado authorities’ recommended regulations are not fully compliant with applicable state laws. He continued, saying that, in all honesty, he believes the proposed regulations around fantasy sports are actually retrogressive and that they should be reevaluated.