California Plans to Legalize Sports Betting [...]
Nevada Approves US Fantasy Sports Application
- June 9, 2016 By Nemanja L. -
The state of Nevada appears to be on the verge of allowing daily fantasy websites to offer their services to the country residents, according to reports.
US Fantasy Sports (USF) saw their application unanimously approved by the Nevada Gaming Control Board (GCB), meaning the company’s plans to launch the site by August seem to be on track.
The USF is a start-up company that has set out to combine daily fantasy sports with pari-mutuel pool betting, and they have received a major boost as the Nevada legislators approved their application.
This means that as soon as the Nevada Gaming Commission approves their license, the gaming operator can put things into motion and launch their ambitions fantasy platform.
USF Led by Industry Professionals
USF may be a new player on the market, but they are led by a team of seasoned industry professionals, with their chief Vic Salerno a member of the American Gaming Association Hall of Fame and chairman of US branch of famous UK bookmaker William Hill.
The US Fantasy Sports has employed Nevada sportsbook veteran Mika Knapp to develop the system for the competition platform and the main idea is to give casual gamers a chance to secure top prizes without risking too much of their own cash.
The USF system plans to quote odds on athletes based on the chances they have of finishing top of a certain category, with bettors given the opportunity to stake win, place or show wagers.
They also plan to make it even easier for their customers to find the preferred contests by allowing them to select a single athlete and view all corresponding contests.
Unlike the leading DFS websites, USF will cap the number of athletes per contest to 20, which should further speed up the gameplay and the process of placing wagers.
At the same time, the company will allow standard racetrack wagers such as trifectas, exactas, daily doubles and pick sixes, while staging a Super Seven Progressive jackpot where the player will be required to pick a top player in seven NFL positions.
While the gaming operator will keep around 10% of the prize pool for themselves, while 80-90% of players are expected to get at least a portion of their stake back after the contest is finished.