Fantasy sports, which are online games in which a players creates a virtual team of real-life players, have grown in popularity over the years, having quickly become a multimillion dollar industry. Reportedly, players online spent around $4 billion in online games this past year alone.Six states, which are Virginia, Indiana, Tennessee, Missouri, Mississippi and Colorado, have already passed laws over such fantasy-sports.

According to Chris Grove, of Narus Advisors, during an appearance at the East Coast Gaming Congress and iGaming Institute at Harrah's Waterfront Conference Center, five more states may join in adding such regulations by the end of the year. The five in question are New York, Illinois, California, Pennsylvania, and South Carolina.Thirty-five states in total have already introduced legislation over these virtualsports games as it is.

Why is there an issue over fantasies?

While the online game starts out with imaginary teams that exist solely for someone’s imagination, the problem is that real money can get involved. These websites allow their users to deposit money daily into accounts and virtually bet against each other, determining the winners over real life statistics, which brings up the issue of gambling laws in various states.

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Proponents against the legal measures feel that since the virtual teams built in fantasy leaguesare meant to be chosen by statistics and player’s real life skills, it would not be fair to label fantasy sports to be games of chance, as are games played in a casino, and should not be held to the same legal standard.As Grove put it, different legal standards can help the fantasy industry establish itself as a “sustainable business.”

Is it Sports Betting?

Ultimately, it often goes hand in hand with specific state regulations over sports betting.

In fact some states appear to be fighting it through sports betting laws directly.The state of New Jersey is also reportedly trying to overturn a law that would limit sports betting to four states, which would be Nevada,Oregon, Delaware, and Montana, as it had needed proper legalization in 1991, known as the Professional and Amateur Sports Protection Act of 1992.

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