Las Vegas could set a DFS model
The latest plan for daily fantasy sports was introduced by Vic Salerno, Las Vegas gaming veteran.
US.- Nevada most well-known gaming innovator and president of USFantasy, Vic Salerno, presented yesterday to the Nevada Gaming Commission a plan to adapt daily fantasy sports –DFS– operations to currently legal game contests, such as horse racings. Salerno backed the project of licensing USFantasy to provide daily and weekly fantasy sports contests, including the NFL, MLB, NBA, NHL, NASCAR, PGA Tour and other sports.
Salerno insisted on the implementation of the latest technological tools to boost the gaming spirit of the most famous casino hub of the world. Although the Nevada Gaming Control Board has been showing signs of approval of both daily fantasy sports and eSports, the gaming authority is still evaluating the licencing process.
Salerno proposed the new legislation before August in order to provide that month wagering services for the Major League Baseball and transitioning into the NFL in September. USFantasy plans to launch the concept to Nevada casinos’ race and sports books and ultimately expand it to states across the country through racetracks and even lotteries to create larger nationwide pools.
“I have talked to several of the casinos and I have not heard one negative thing about it. They all seem to want the product added to their menus,” stated USFantasy president. He explained how the concept works in comparison with horse racings: “Instead of calling them races, we would call them events. The first race instead of having horses, we list the top 20 quarterbacks in the NFL and you can bet on them. The public decides who the favorite is going to be. If everybody keeps betting on (New England quarterback) Tom Brady, he becomes even money or 6-5 or something like that. The difference between us and FanDuel and DraftKings are that in ours there will be 80 percent of the people getting the money back and not 2 to 5 percent of people getting the money back.”
The daily fantasy sports brand proposes a new operation based on pari-mutual betting implemented by horse racing. With this method, the takeout or hold is as high as 25 percent on the wagers. In USFantasy case, the takeout or hold will range from 10 percent to 14 percent, depending on the event and entries. Players can bet only US$1 and chose the winning athlete, place and show, whether the athlete would win the first, second or third place and set a combined wager.
