Creating a Daily Fantasy Site

[JohnBarr]

Do you need license(s) to create a daily fantasy site? Since it's not entirely a casino, but it is gambling, does it require the same licenses (in the U.S.)? You also don't exactly need money backed behind it to start one since you can just have paid events you're charging fees on with no guarantees. Obviously there's ways to attract customers, just curious what all goes into creating one.

[dantee1]

As long as it's a gambling, you will need a license to run it legally as a business in any jurisdiction you intend to offer the services. I am not sure if such license is available in most states in the USA. But you will surely need a license.

[JohnBarr]

As long as it's a gambling, you will need a license to run it legally as a business in any jurisdiction you intend to offer the services. I am not sure if such license is available in most states in the USA. But you will surely need a license.

does it follow all the same casino rules/laws, considering the game isn't really based off of luck and considered more of a skill game? I believe it's still state limited, as not all states allow DFS -- however, I do feel that's been a proposed counter-argument to allow DFS in all regions.

Let's say I have a site, I'd like to run my own real-money contests; I know NJ is legal, so what licenses would I need to operate? Does anyone know the list or have information on this?

Can you be in the United States and run an off-shore operation? As in, run my services through Costa Rica or some off-shore location, and still be the owner in the US -- even though "I" couldn't play on my own service?

[Indymoney]

Do you need license(s) to create a daily fantasy site? Since it's not entirely a casino, but it is gambling, does it require the same licenses (in the U.S.)? You also don't exactly need money backed behind it to start one since you can just have paid events you're charging fees on with no guarantees. Obviously there's ways to attract customers, just curious what all goes into creating one.

I have no too much information about this but still can confirm you that you don't need any license for any type fantasy league site because its not gambling its game of skills, so its not covered under anti-betting laws.

[JeromeTash]

I think it depends on the State you are in. Some states require a license while others do not require any. For example as of June 2016, one did not need a license to run a DFS in Colorado while in California, you would need one.

I dunno how updated this article is but you might wanna look at it: https://www.gambling.com/laws/dfs-legislation

[noormcs5]

Do you need license(s) to create a daily fantasy site? Since it's not entirely a casino, but it is gambling, does it require the same licenses (in the U.S.)? You also don't exactly need money backed behind it to start one since you can just have paid events you're charging fees on with no guarantees. Obviously there's ways to attract customers, just curious what all goes into creating one.

Do you mean a fantasy league type of site ? I do not think that you need any type of license for it but it is not a gambling.
If you are creating a gambling site in the US, you definitely have to register it. In many other parts of the world you can get along without informing the authorities but US has strict law enforcing agencies and you can't risk anything illegal.

[Lakai01]

Take a few bucks and ask a lawyer what you need to run your business. Its definitly worth it and may save you from a lot of troubles.
Running your business with missing licenses/registrations/... is definitly not a good idea, especially in the US

[sportbettor]

Here you can find a List of the best Daily Fantasy Sports Sites: http://100bookies.com/best-daily-fantasy-sports-sites-eng/

[el kaka22]

Do you mean fantasy league? Like draftkings and all that? I think they have a separate license, I mean you still have to get a license but I think that wasn't gambling, it wasn't considered gambling because it is closer to poker than dice because people are playing against each other in that game and you make a rake and you still get a license for that but its much more cheaper and easier to get.

After all you have nothing to fear about a poker house scamming people since they will be making money no matter who wins, same with fantasy league, anyone can win and at the end house gets its rake, which is why its easier and a different license. Don't get me wrong its still a gambling license but its an easier one and different than say dice or plinko or blackjack etc etc.

[kryptqnick]

Do you need license(s) to create a daily fantasy site? Since it's not entirely a casino, but it is gambling, does it require the same licenses (in the U.S.)? You also don't exactly need money backed behind it to start one since you can just have paid events you're charging fees on with no guarantees. Obviously there's ways to attract customers, just curious what all goes into creating one.

This seems like a serious thing. Of course, you can ask for opinions on this forum, but you must understand that people here are not professionals, experts in the US legislation system. Well, maybe someone is, but definitely not the majority. So if you want to start your business, you should hire a lawyer to make sure your business will be legal. As far as I know, online gambling is partially illegal in the US (not everything is legal). And then, apart from the license question, there's also the question about taxation, about allowing people to use cryptocurrencies, etc. And hiring a lawyer might seem expensive, but I am sure that you'd have to spend way more in case you accidentally break the law.

[YOSHIE]

Since it's not entirely a casino, but it is gambling, does it require the same licenses (in the U.S.)?

This question must be returned to you.
1. Which country do you live in?
2. How gambling sites in your country are illegal or not illegal.
3. How do hardware / software gambling sites in your country today.

Now answer:

Everyone's license almost knows the real meaning (granting of permission), in this category many meanings arise again, it can be said to be an agreement, essentially giving privileges to the product / goods or online site licensed.

I described again for the region.

Region: Within the boundaries of the region means the restrictions in using the product or site to be used in the region or regional (limited).
for example, one license or regional "(United States and Canada) cannot be used in Sengapure because it's the Southeast Asian regional category), and vice versa.

After the region was born again a mass license.
This you must have it.

For this mass license, you must have software, which means an individual license in the software on your computer.
With the "End User License Agreement (EULA)" agreement in your software. This all depends on the license agreement.

hopefully this can be a guide for you.
Good luck.

[StandardTR]

Hey maybe i can help you with this. As I live in Europe, I have been informed mainly in this region about the legal aspects. But maybe we can talk a little bit about this. If you are interested you can send me a DM.

[Flagship11]

If you are accepting and paying out money then I believe you need a money transfer license

[ashmodeus]

well well,i've seen a lot people try to create a new business , gambling business recently
and all of them have a same question , license and paperwork.
i wonder why ? i am just curious btw.
did it really profitable ?
i just think , at the beginning , its really hard , really.
promoting everywhere , even u need a fake player to make ur games looks crowded.

[Docnaster]

Do you need license(s) to create a daily fantasy site? Since it's not entirely a casino, but it is gambling, does it require the same licenses (in the U.S.)? You also don't exactly need money backed behind it to start one since you can just have paid events you're charging fees on with no guarantees. Obviously there's ways to attract customers, just curious what all goes into creating one.

You can start anything without a license. No one will stop you. Once you start making money, start applying for licences that are deemed necessary for the niche that you belong in. This is a great way to save money by not applying for licenses at the start without any trace of profitability. As getting licenses can be pretty expensive and you might even have to grease someone's hands only to find out that your idea is not generating any money.

[MonsterV]

Do you need license(s) to create a daily fantasy site? Since it's not entirely a casino, but it is gambling, does it require the same licenses (in the U.S.)? You also don't exactly need money backed behind it to start one since you can just have paid events you're charging fees on with no guarantees. Obviously there's ways to attract customers, just curious what all goes into creating one.

You better find a lawyer or consultant who can help you about what you plan to do. Indeed, not all businesses must have a license, but a good business must have a clear license. License indicates that your business is legally legal and can be accounted for, unlike a business that does not have it, if one day there is a problem, it might become complicated.

[ipanks]

The only thing you need is money which will help you to build a new gambling site. You can add many games inside the website and start to introduce the site to people. You can hire someone to build that site, manage it, and secure it from the attacker that might come, so you don't have to confuse to maintain your website. But I don't know if you need a lawyer to take care of your website because I never try to build a gambling site.

[BTCevo]

well well,i've seen a lot people try to create a new business , gambling business recently
and all of them have a same question , license and paperwork.
i wonder why ? i am just curious btw.
did it really profitable ?
i just think , at the beginning , its really hard , really.
promoting everywhere , even u need a fake player to make ur games looks crowded.

Of course this is profitable. Gambling business is always profitable in the end because of the house edge that help them to get profit and players like the adrenaline when it comes to gamble, fast money. Actually if you think that it is hard then how about a real business? Dont you think it will be the same? Marketing is always needed im order to get more players and why do you need some fake players or data? In crypto gambling, you should provide everything transparant because some little mistake will ruin everything that you ever created especially about the license and paperwork

[ashmodeus]

Of course this is profitable. Gambling business is always profitable in the end because of the house edge that help them to get profit and players like the adrenaline when it comes to gamble, fast money. Actually if you think that it is hard then how about a real business? Dont you think it will be the same? Marketing is always needed im order to get more players and why do you need some fake players or data? In crypto gambling, you should provide everything transparant because some little mistake will ruin everything that you ever created especially about the license and paperwork

Of course , i know exactly if u talking about in the end. mostly , yes.
fortunejack going well like we can see now, directbet.eu closed with high reputation, it happened not merely because a simple license/paperwork or all transparent.
but because a high commit and good management,(its just my opinion by the way), but how about something like betking,bitcoinpenguin,bitspoker,
i mean , what i want to talking its about did u know exactly how to create some business like this, we know about big profit also more money come if u got investor, but, can u do that ?

[el kaka22]

Daily fantasy websites do not make money because of house edge, they take rake, so they are not even risking any money. Just to give an example, places like primedice put up their own money against gamblers money and in the end because of the house edge they end up profiting in the long run, they may lose money to you but they usually win it from someone else and that equals to them making money.

However, here there is no way a fantasy website loses money, there is no one they are going against, they literally put up no money at all, they are just raking the money that was put up in the pot, like poker games. Hence this is a safer gambling for everyone involved, not a great deal of attention to fantasy games in the world but if you can market it well enough then you can make money.