Arizona has legalized fantasy sports betting!

[OgNasty]

I’m just now finding out that last week Arizona changed their stance on sites like DraftKings for online sports betting. It seems like states are legalizing things that bring them revenue at a pretty good clip. I’m particularly happy about this one though, as I’ve had money stuck on my DraftKings account for a long time now. I might have to get into fantasy sports.

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[Botnake]

Hi OgNasty, can you give an example of popular fantasy sports betting? I gotta be honest, I heard of this but I have not played this type of game and I don't know what kind of betting sites in the crypto space that are offering this kind of game.

Also, can I request the link to the full story or news, I'd love to read the full details regarding this.

[hello_good_sir]

Yeah, really good news.

Really a shame that DK had to deal with this regulatory garbage for such a long time and it's a deserved break I think.

It doesn't matter what state, people need to be able to choose for themselves and weigh up the options against each other with their free will. Makes no sense to keep that choice away from them imho.

[madnessteat]

This is great news. In my opinion, betting in fantasy sports is more attractive for players because it minimizes the possibility of various kinds of manipulation in the sport of fake matches, etc. I believe that over time, this area of gambling will become more widespread.

[alegotardo]

Hi OgNasty, can you give an example of popular fantasy sports betting? I gotta be honest, I heard of this but I have not played this type of game and I don't know what kind of betting sites in the crypto space that are offering this kind of game.

Also, can I request the link to the full story or news, I'd love to read the full details regarding this.

Even if the question was not directed to me, I will take the liberty of answering you...

In a fantasy tournament, managers form virtual teams of real players who participate in a sporting event or championship. They receive points depending on the results athletes demonstrate in real matches. Points can be awarded for the athlete's successful actions, for example, for an assist, a reflected penalty, or a goal scored. In this case, the points can be negative for unsatisfactory game results, eg a missed penalty, a missed goal, receiving a red card.
All points are added up and, in the end, the managers, whose virtual teams were able to place them at the top of the tournament table, win.

In my country there's CartolaFC, which is a fantasy game based on the main football championship we have, it's a lot of fun play with friends.

[OgNasty]

Hi OgNasty, can you give an example of popular fantasy sports betting?

The only fantasy sports betting I've ever done has been betting on games during the NBA season using DraftKings.com.  Basically, you receive a certain amount of points to build a team.  You spend those points on different players and they earn point depending on how good they play (what stats they rack up).  Then at the end of the day your final score is compared to everyone else who built a fantasy team that day, and if you are in the top x% of teams, you receive a cash prize.  It's extremely competitive, but a lot of fun and you get to know all the players pretty well.  It also gives you something to cheer for during a game you probably would have otherwise not paid any attention to.

[Inagame]

There are other website offering fantasy sport betting and you dont have to use just DraftKings.
I see you have Stake signature and avatar, dont tell me that is legal in Arizona 

[chaser15]

I’m just now finding out that last week Arizona changed their stance on sites like DraftKings for online sports betting. It seems like states are legalizing things that bring them revenue at a pretty good clip. I’m particularly happy about this one though, as I’ve had money stuck on my DraftKings account for a long time now. I might have to get into fantasy sports.

Just confused here. Why are fantasy sports banned in that state? Everyone knows that almost all US States are gambling-friendly states and we can't compare Fantasy Sports to the usual gambling where the former is all about virtual and not actually harmless although quite stressful.

Fantasy sports is good and I have a little experience participating in it especially Fantasy basketball and Fantasy football. I was just lured by my friends who are addicted to Fantasy Sports and Trading Cards, physically and virtually.

[avikz]

News reference: https://www.azcentral.com/story/money/business/consumers/2021/09/08/sports-betting-legal-arizona-what-to-know/5772236001/

It seems, not just fantasy sports, but they have legalized the sports betting segment altogether. But unfortunately I don't see any crypto sportsbooks there, only fiat! So the news might no be enticing to a majority of us! It's just some fiat punks getting rich.

[Vaskiy]

More number of fantasy sports betting platforms are available for cash prize. It is very rare to see with cryptocurrency acceptance. In my country we've got dedicated platforms for fantasy sports betting for football, kabbadi and cricket. It is fun filled than common form of sports betting, because we choose our team picking players from both the teams playing the match. The fun part, at times the player we choose don't even get on the playing eleven.

Legalizing these services are good, but wrong way of promotion shouldn't be done. The truth about the game and how it need to be played and all should be briefed.

[Kong Hey Pakboy]

This is great news. In my opinion, betting in fantasy sports is more attractive for players because it minimizes the possibility of various kinds of manipulation in the sport of fake matches, etc. I believe that over time, this area of gambling will become more widespread.

That's for you though, I don't think not a lot of people knows about fantasy sports right now and from what I can see in some of them, I feel like it's not really fun to have bet on this sports since it can be easily rigged by a code.

[Jackl87]

Hi OgNasty, can you give an example of popular fantasy sports betting? I gotta be honest, I heard of this but I have not played this type of game and I don't know what kind of betting sites in the crypto space that are offering this kind of game.

Also, can I request the link to the full story or news, I'd love to read the full details regarding this.

Even if the question was not directed to me, I will take the liberty of answering you...

So this means that you can basically bet on the outcome of for example matchdays on sorare or other NFT based blockchain games? While i think this is an interesting idea for people that are interesting in doing that i also think this is kind of dangerous for the platforms that are offering this bets. I mean the outcome of those matches is pretty easy to manipulate in my opinion. Some bettor with a lot of money could just contact one of those sorare player and offer him 5k$ if he loses the next match where he is the big favorite and then of course bet on the loss of this player. In real sports this is pretty hard to do especially in big sports, but in fantasy sports i think this is pretty easy to do and therefore dangerous.

[timerland]

I’m just now finding out that last week Arizona changed their stance on sites like DraftKings for online sports betting. It seems like states are legalizing things that bring them revenue at a pretty good clip. I’m particularly happy about this one though, as I’ve had money stuck on my DraftKings account for a long time now. I might have to get into fantasy sports.

Yeah, it makes a lot of sense to legalize these things.

Tax revenue is obviously a huge concern that is in favour of legalising these things. Another thing is enforcement costs - there are a ton of fantasy sports sites and services that pop up each year and it's simply unfeasible to try to shut them all down if you are banning them.

Definitely the right move, and great for the players too. Gives them a lot more freedom as to what they want to play on.

[Wakate]

You are very lucky and you should try and move it out. I think each state in the United States have there own laws and cam determine what they want and what they dislike. At least gamblers will be able to continue there usual activities without having any restrictions. Since the government are in for the money, they might give more ears to firms that are ready to dance well to the tune of the music.

[Ryker1]

Well, I found it here ^{[ https://www.usbets.com/arizona-sports-betting/ ]}.
I dont know that place but I think that is a good start for them in order to boost their economy, we know that there are too many gambling operators by now who legally operate their casino and I think they belongs in this business sector that was very successful as of now. We know how widely those who are operate gambling casinos and for sure the collected tax should be also increased because of the tax. Therefore --as I can say it is really helpful if we are talking about tax.

[Johnyz]

Is there any supporting links about this one?
Though legalizing Gambling is always a good news for the gamblers especially on that area. I’m not familiar with the game but in general, this is what the gamblers wants and its good that they are slowly making things legal. This might be a reason to increase their collections in taxes, they need more funds for sure.

[samcrypto]

News reference: https://www.azcentral.com/story/money/business/consumers/2021/09/08/sports-betting-legal-arizona-what-to-know/5772236001/

It seems, not just fantasy sports, but they have legalized the sports betting segment altogether. But unfortunately I don't see any crypto sportsbooks there, only fiat! So the news might no be enticing to a majority of us! It's just some fiat punks getting rich.

This is a good news, and they might starting to study on legalizing crypto sportsbook as well as they grow and adopt the gambling activities as legal. Fantasy sports is a great place to bet, I do have some bets on this before and I really enjoy watching it as well. They might be a reason why they make such decisions to make gambling fully legal, whatever it is this is a good news to every gamblers in Arizona.

[DoublerHunter]

News reference: https://www.azcentral.com/story/money/business/consumers/2021/09/08/sports-betting-legal-arizona-what-to-know/5772236001/

It seems, not just fantasy sports, but they have legalized the sports betting segment altogether. But unfortunately I don't see any crypto sportsbooks there, only fiat! So the news might no be enticing to a majority of us! It's just some fiat punks getting rich.

This is a good news, and they might starting to study on legalizing crypto sportsbook as well as they grow and adopt the gambling activities as legal. Fantasy sports is a great place to bet, I do have some bets on this before and I really enjoy watching it as well. They might be a reason why they make such decisions to make gambling fully legal, whatever it is this is a good news to every gamblers in Arizona.

^ It is a good step for them and hopefully, other countries will probably see the potential benefits of legalizing gambling casinos so that operators will run them legally. Definitely right, there is a large revenue that the country will benefit from it and that is how it will help them to become a more progressive country because of the revenue that comes from the tax. However, they should have strictly monitor their people not to becomes addicted to gambling, it is the worst part when someone make a crime because they cant able to survive their activity in gambling.

[wxa7115]

I’m just now finding out that last week Arizona changed their stance on sites like DraftKings for online sports betting. It seems like states are legalizing things that bring them revenue at a pretty good clip. I’m particularly happy about this one though, as I’ve had money stuck on my DraftKings account for a long time now. I might have to get into fantasy sports.

Yeah, it makes a lot of sense to legalize these things.

Tax revenue is obviously a huge concern that is in favour of legalising these things. Another thing is enforcement costs - there are a ton of fantasy sports sites and services that pop up each year and it's simply unfeasible to try to shut them all down if you are banning them.

Definitely the right move, and great for the players too. Gives them a lot more freedom as to what they want to play on.

It's not really surprising that something like this is happening, almost all governments around the world are very heavily indebted and one of the ways countries tried to reduce the percentage that this represented against them was to increase the size of the economy, that way even if the level of debt was the same if the economy was growing it was easier to pay whatever loans they took.

But the pandemic increased the levels of debt and at the same time reduced the economy activity so governments all around the world are trying to find ways to increase their revenue and one easy way to do this is to legalize gambling.

[goinmerry]

I’m just now finding out that last week Arizona changed their stance on sites like DraftKings for online sports betting. It seems like states are legalizing things that bring them revenue at a pretty good clip. I’m particularly happy about this one though, as I’ve had money stuck on my DraftKings account for a long time now. I might have to get into fantasy sports.

OG, you are from Arizona? Since if you are not from that State, you can still access your DraftKings account. But if you are located there, is Draftkings allowed before since you able to open an account.

There are lots of sites offering a Fantasy Sports but not familiar for platforms that accept crypto-payments. Just weird, why online sports betting is restricted in Arizona? Or just on a specific platforms?

[Victorycoin]

A lot of good news arizona fantasy sports betting fun game and never has a chance to be anything fake the fantasy sports industry saw a big increase in mainstream popularity the format's advantages including the ability to access services, were credited with the emergence of a variety of factors including mobile devices, and aggressive marketing campaigns that promoted potential cash prizes for their biggest competition. The structure and payoffs of the daily fantasy games are a lot of fun.

[chaser15]

News reference: https://www.azcentral.com/story/money/business/consumers/2021/09/08/sports-betting-legal-arizona-what-to-know/5772236001/

It seems, not just fantasy sports, but they have legalized the sports betting segment altogether. But unfortunately I don't see any crypto sportsbooks there, only fiat! So the news might no be enticing to a majority of us! It's just some fiat punks getting rich.

I'm now more confused again.

I will bump my question to those who lived in Arizona, why gambling such as sports betting is banned there before? Isn't that gambling has a big market that even small leagues are getting big money on circulation.

Right, there is no crypto involved as expected since it most pointing to a fiat casino. But since gambling-related it was shared here.

[slaman29]

I'm not into fantasy but I had no idea it was even illegal, didn't think that sports and fantasy sports were 2 different areas of betting, but good news to hear regardless. Esports and fantasy do give a lot of new players a chance to shine where they normally may not be able to. Pools and predictor games showed me that. Is there anyone here actually from there?

[michellee]

I think the government wants to benefit from legalizing online fantasy sports betting and maybe the government target is getting taxes from the gamblers or the provider. But I guess people from Arizona are not aware of that news and only gamblers who aware of that. But that is good news for those who often use fantasy sports betting, not too afraid about illegal or legal to bet on fantasy sports betting. With the links from some @Avikz and @Ryker1, I see the image showing some people are in one room placing their bet.

[OgNasty]

I’m just glad I finally get to participate in fantasy sports. I’ve been waiting for a crypto alternative for years and am shocked nobody has done it well yet. Nevertheless, regulators have opened the door so that I can use existing options for my fantasy fix. I guess we’ll see how steep the learning curve is now.

[Davidvictorson]

I’m just now finding out that last week Arizona changed their stance on sites like DraftKings for online sports betting. It seems like states are legalizing things that bring them revenue at a pretty good clip. I’m particularly happy about this one though, as I’ve had money stuck on my DraftKings account for a long time now. I might have to get into fantasy sports.

From an economic standpoint, this is good news for the state of Arizona as they join other states like Colorado, Georgia, Maryland, Nevada, New Jersey to rake in millions of dollars in revenue from this very lucrative sector.  From the reviews I've read online, the best sports betting apps in the US, based on mobile betting odds, bonus offers and promo codes are DraftKings and Fanduel. For now because of regulators restrictions on the gambling industry in the US, cryptocurrencies is not accepted as a form of payment yet.

https://www.thestreet.com/crypto/news/draftkings-considered-accepting-cryptocurrency-but-regulators-didnt-approve

[Fortify]

I’m just now finding out that last week Arizona changed their stance on sites like DraftKings for online sports betting. It seems like states are legalizing things that bring them revenue at a pretty good clip. I’m particularly happy about this one though, as I’ve had money stuck on my DraftKings account for a long time now. I might have to get into fantasy sports.

That's cool, glad you can finally get your money out - amazing they were allowed to hold it like that without cashing you out previously. There does seem to be a nice trend where they are legalizing a lot of stuff and letting person responsibility take over a bit more. Cannabis is another good example, it's getting legalized in many states now and it probably is less harmful than alcohol, with so many police resources being wasted on it in the past. Anyway, one step at a time the gambling industry is able to break down these silly and pointless barriers that were put up by some stuffy old republican politician who wanted to appeal to the old timers who were used to super strict laws many decades ago.

[Cling18]

This is great news. In my opinion, betting in fantasy sports is more attractive for players because it minimizes the possibility of various kinds of manipulation in the sport of fake matches, etc. I believe that over time, this area of gambling will become more widespread.

It's really exciting and interesting especially for those who are seeking fairness in gambling. This kind of improvement is what the gambling industry is looking for. Other states are also experiencing the legalization of fantasy sports betting which is a good thing.

[KTChampions]

Even if the question was not directed to me, I will take the liberty of answering you...

In a fantasy tournament, managers form virtual teams of real players who participate in a sporting event or championship. They receive points depending on the results athletes demonstrate in real matches. Points can be awarded for the athlete's successful actions, for example, for an assist, a reflected penalty, or a goal scored. In this case, the points can be negative for unsatisfactory game results, eg a missed penalty, a missed goal, receiving a red card.
All points are added up and, in the end, the managers, whose virtual teams were able to place them at the top of the tournament table, win.

In my country there's CartolaFC, which is a fantasy game based on the main football championship we have, it's a lot of fun play with friends.

Wow, to be honest, I have not heard of such competition mechanics, I thought that fantasy betting is akin to completely virtual competitions that some bookmakers hold in the absence of real sports events. Sounds pretty interesting and is really good for playing with friends if you have a similar range of interests in sports with them. By the way, I remember in childhood we played something similar (but within the framework of the same football club for which we were rooting) - we tried to guess which player would score the most points at the end of the match (according to the system that my friends and I developed ourselves).

[ChiBitCTy]

I thought that playing fantasy stuff on like Draft Kings and Fanduel were legal for everyone in the United States for quite some time, but not the case? Personally I am not a big fan of daily fantasy.  It's really hard to win.  The best players run a bunch of teams in the same contest and have an overwhelming advantage.  More in to season long fantasy myself.

[michellee]

This is great news. In my opinion, betting in fantasy sports is more attractive for players because it minimizes the possibility of various kinds of manipulation in the sport of fake matches, etc. I believe that over time, this area of gambling will become more widespread.

It's really exciting and interesting especially for those who are seeking fairness in gambling. This kind of improvement is what the gambling industry is looking for. Other states are also experiencing the legalization of fantasy sports betting which is a good thing.

If that can succeed, fantasy sports betting will grow and it could legalize in other countries, not just in the states because the passion for playing fantasy sports betting can increase. The fantasy sports companies will launch many new games to people to have various types of fantasy sports that they want. Well, it is just a matter of time before we see that the gambling business will grow in the future and that with support from technology, that will happen.

[LUCKMCFLY]

In Arizona since September 9, the legalization of casino games and sports betting is developing, and it will continue to develop but at a slow pace.

This type of culture is an example for some countries that are planning to eliminate everything related to the advertising of gambling, as is the case of Spain and India, I suppose it is due to protection measures, but the fact that in Arizona This system is implemented, it is an example to the world.

According to the state Legislature, Arizona should get about $15 million from sports betting. That money will go to the state’s general fund, which is the state’s main bank account used for running state agencies. The state is estimating the sports betting industry is worth $134 million a year.

Source: https://www.12news.com/article/news/politics/sports-betting-goes-live-arizona/75-ecaff4eb-0da2-4b96-a6bf-1e4c4b0c22a6#:~:text=The%20Arizona%20Legislature%20added%20sports,go%20into%20effect%20on%20Sept.

The news of prohibition is more popular than that of Liberties, this type of news should be repeated in the media and on social networks every day, so that people see the other reality.

[AicecreaME]

In Arizona since September 9, the legalization of casino games and sports betting is developing, and it will continue to develop but at a slow pace.

This type of culture is an example for some countries that are planning to eliminate everything related to the advertising of gambling, as is the case of Spain and India, I suppose it is due to protection measures, but the fact that in Arizona This system is implemented, it is an example to the world.

According to the state Legislature, Arizona should get about $15 million from sports betting. That money will go to the state’s general fund, which is the state’s main bank account used for running state agencies. The state is estimating the sports betting industry is worth $134 million a year.

Source: https://www.12news.com/article/news/politics/sports-betting-goes-live-arizona/75-ecaff4eb-0da2-4b96-a6bf-1e4c4b0c22a6#:~:text=The%20Arizona%20Legislature%20added%20sports,go%20into%20effect%20on%20Sept.

The news of prohibition is more popular than that of Liberties, this type of news should be repeated in the media and on social networks every day, so that people see the other reality.

I agree.

Seems like their Government started to accept that gambling industry is indeed contributing a lot of money in the economy, especially right now that we are just slowly rising up from the pandemic. Entertainment is very important to the majority of population since everyone is still at home being afraid to get infected by the virus. I hope Arizona will continue to legalized gambling industry to help its own economy to rise up again and build more things to make their country even more productive.

[Findingnemo]

Happy to know that you can access your money which stuck there but I am not really a supporter of fantasy sports which is kind of selective scam tricks involved there as far as I know also you have to be very careful with the amount you bet, its better as long as your bet amount is less.

[sunsilk]

Good for the people that are in AZ. They don't have to go elsewhere just to be able to gamble. To be specific with fantasy sports, by just doing a little search.

There are a lot of players on it that will like this legalization made on that state.

Yeah, another cash cow for the state.

[Sithara007]

I thought that sports betting was legal across the United States. So I was wrong about it. But then another question arises. How they are going to calculate the tax, if the sportsbook is not mandating KYC for its users? Unless the user himself mentions about it in his tax return, the IRS may be unaware of these transactions. And it gets really complicated, because many of the sportsbooks are based in off-shore tax havens such as Dominica and Cayman Islands and they are not required to provide any information to the US authorities.

[zanezane]

Happy to know that you can access your money which stuck there but I am not really a supporter of fantasy sports which is kind of selective scam tricks involved there as far as I know also you have to be very careful with the amount you bet, its better as long as your bet amount is less.

Long as there's some regulators that can look on the fairness of the game, I think that it's a really safe for you to spend your money and play there. I think you can probably ask them regarding that because they're obligated to publicize that information.

[XCANA]

Hi OgNasty, can you give an example of popular fantasy sports betting? I gotta be honest, I heard of this but I have not played this type of game and I don't know what kind of betting sites in the crypto space that are offering this kind of game.

Also, can I request the link to the full story or news, I'd love to read the full details regarding this.

Maybe next time before you ask this kind of question requesting for a link to the news just use that same time you waist in typing the question here to google what you are looking for as that will safe so many people time to read more reply here my brother. OG has answered your question by giving you explanation of what fantasy sports is all about and though didn't provide you the link but here is the link to the news https://www.legalsportsreport.com/arizona/

[chaser15]

Hi OgNasty, can you give an example of popular fantasy sports betting? I gotta be honest, I heard of this but I have not played this type of game and I don't know what kind of betting sites in the crypto space that are offering this kind of game.

Also, can I request the link to the full story or news, I'd love to read the full details regarding this.

Maybe next time before you ask this kind of question requesting for a link to the news just use that same time you waist in typing the question here to google what you are looking for as that will safe so many people time to read more reply here my brother. OG has answered your question by giving you explanation of what fantasy sports is all about and though didn't provide you the link but here is the link to the news https://www.legalsportsreport.com/arizona/

Don't be harsh. The user is asking for a betting site that offers fantasy sports that accepts crypto.

I looked at the link you provided, checked the first 5, and didn't saw crypto as one of their payment methods.

If you can found one, then it would be awesome to share it here.

[Peanutswar]

I guess its a move because they are now allowing this kind of fantasy sports betting, today there are different platforms that support this kind of game to give a different perspective to their users and to give more entertainment. This kind of bet i guess need knowledge regarding to the team or the player you want to play or bet with by this, of course, there's a possible meta team that can conquer the other teams and becomes overpower they need to make sure it becomes balance.

[harizen]

I thought that sports betting was legal across the United States. So I was wrong about it. But then another question arises. How they are going to calculate the tax, if the sportsbook is not mandating KYC for its users? Unless the user himself mentions about it in his tax return, the IRS may be unaware of these transactions. And it gets really complicated, because many of the sportsbooks are based in off-shore tax havens such as Dominica and Cayman Islands and they are not required to provide any information to the US authorities.

KYC I think is mandated, especially on the site that OP mentioned, the Draftkings.

According to their terms: "DraftKings, Inc. will take appropriate steps to prevent unauthorized withdrawals from consumer Accounts. Users are subject to an automated Knowledge Base Authentication ("KBA") verification process provided whenever a user attempts to withdraw funds".

Don't know how taxation works there but it should a have tier depending on winnings.

[qwertyup23]

I agree.

Seems like their Government started to accept that gambling industry is indeed contributing a lot of money in the economy, especially right now that we are just slowly rising up from the pandemic. Entertainment is very important to the majority of population since everyone is still at home being afraid to get infected by the virus. I hope Arizona will continue to legalized gambling industry to help its own economy to rise up again and build more things to make their country even more productive.

In the Philippines, the impact of gambling has brought about billions and billions of profit over the past year from gambling revenue alone. Imagine if other gambling establishments were to be recognized and legalized, the impact and profit could be an essential factor in dealing with poverty and education in the country. But the boundary has to be seen on which activities and establishments should be legalized.

[suzanne5223]

I agree.

Seems like their Government started to accept that gambling industry is indeed contributing a lot of money in the economy, especially right now that we are just slowly rising up from the pandemic. Entertainment is very important to the majority of population since everyone is still at home being afraid to get infected by the virus. I hope Arizona will continue to legalized gambling industry to help its own economy to rise up again and build more things to make their country even more productive.

In the Philippines, the impact of gambling has brought about billions and billions of profit over the past year from gambling revenue alone. Imagine if other gambling establishments were to be recognized and legalized, the impact and profit could be an essential factor in dealing with poverty and education in the country. But the boundary has to be seen on which activities and establishments should be legalized.

Due to the position of the world economy what every government ought to do is to legalize and recognize the setting that will bring more revenue than to order for some loans and the Philippines governments are now for been understanding when it comes to this aspect.

However, I like the move of the Arizona government towards the online gambling site in the subject but I hope they set certain rules and regulations that will prevent people from addiction.

[KTChampions]

I thought that sports betting was legal across the United States. So I was wrong about it. But then another question arises. How they are going to calculate the tax, if the sportsbook is not mandating KYC for its users? Unless the user himself mentions about it in his tax return, the IRS may be unaware of these transactions. And it gets really complicated, because many of the sportsbooks are based in off-shore tax havens such as Dominica and Cayman Islands and they are not required to provide any information to the US authorities.

I do not know much about US tax legislation (I think very few people are a specialist who knows everything since each state has its own peculiarities), but as far as I know, the duty to report their income lies with the citizen. In the absence of a KYC, it seems easy to evade taxes in this case, but the punishment is pretty severe (up to jail time) so I don't know if the risk is justified.

[imstillthebest]

Hi OgNasty, can you give an example of popular fantasy sports betting? I gotta be honest, I heard of this but I have not played this type of game and I don't know what kind of betting sites in the crypto space that are offering this kind of game.

Also, can I request the link to the full story or news, I'd love to read the full details regarding this.

Maybe next time before you ask this kind of question requesting for a link to the news just use that same time you waist in typing the question here to google what you are looking for as that will safe so many people time to read more reply here my brother. OG has answered your question by giving you explanation of what fantasy sports is all about and though didn't provide you the link but here is the link to the news https://www.legalsportsreport.com/arizona/

Don't be harsh. The user is asking for a betting site that offers fantasy sports that accepts crypto.

I looked at the link you provided, checked the first 5, and didn't saw crypto as one of their payment methods.

If you can found one, then it would be awesome to share it here.

as per botnake's post ,  he also ask for the link of the news and thats what XCANA supplied ( not the link for fantasy sport betting sites that accepts crypto ) although your right that XCANA is a bit harsh there ,  Botnake is only asking and there is nothing wrong with that , who knows maybe he dont know what to google and find the wrong links ? but it will be more sure if OgNasty is the one that shares it .  

@XCANA some users will prefer to post here than to research for the answer directly because it opens a discussion , not to mention it gives them incentive if they are in a campaign .

[sunsilk]

Good for the people that are in AZ. They don't have to go elsewhere just to be able to gamble. To be specific with fantasy sports, by just doing a little search.

There are a lot of players on it that will like this legalization made on that state.

Yeah, another cash cow for the state.

They are on the process on making things legal, the sports and casino games because they know there’s a lot of gamblers on their area and it can really generate profit to them. Its good to hear that some gamblers are really into Fantasy sports, this is a good start for them to gamble legally without any fear of being caught, now they can focus on choosing their players and have a good bet.

It's one thing for sure if a country or state declares any type of betting as a legal activity and that is to generate another revenue for their government.

That's usually really the reason why they do that because they can't ignore to imagine that how much they would be missing if they're not going to act on it fast and just let it pass.

[michellee]

Good for the people that are in AZ. They don't have to go elsewhere just to be able to gamble. To be specific with fantasy sports, by just doing a little search.

There are a lot of players on it that will like this legalization made on that state.

Yeah, another cash cow for the state.

They are on the process on making things legal, the sports and casino games because they know there’s a lot of gamblers on their area and it can really generate profit to them. Its good to hear that some gamblers are really into Fantasy sports, this is a good start for them to gamble legally without any fear of being caught, now they can focus on choosing their players and have a good bet.

It's one thing for sure if a country or state declares any type of betting as a legal activity and that is to generate another revenue for their government.

That's usually really the reason why they do that because they can't ignore to imagine that how much they would be missing if they're not going to act on it fast and just let it pass.

Hopefully, in this pandemic, that can still contribute to the country and give more revenue for the country. It could be a strategy to attract people who like gambling to come to the casino, the casino will get revenue and pay the tax, and the country will get the tax. Hopefully, the government is ready to see many people visiting the casino and spending more money because people will think that gambling can be their fortune to make money.

[bryant.coleman]

I do not know much about US tax legislation (I think very few people are a specialist who knows everything since each state has its own peculiarities), but as far as I know, the duty to report their income lies with the citizen. In the absence of a KYC, it seems easy to evade taxes in this case, but the punishment is pretty severe (up to jail time) so I don't know if the risk is justified.

I know that the US tax system is very strict. But there has to be a threshold above which they need to report the wins? I don't think that the IRS will be pissed off if someone doesn't report his win of $10. From what I understand, there is a threshold of $600 on Form 1099-MISC. Any miscellaneous income under this threshold is not taxable (I am not an US citizen, and please correct me in case I am wrong). I guess it is possible to classify these small wins as miscellaneous receipts. And in case you win a big amount, then you can report it in your return.

[KTChampions]

I do not know much about US tax legislation (I think very few people are a specialist who knows everything since each state has its own peculiarities), but as far as I know, the duty to report their income lies with the citizen. In the absence of a KYC, it seems easy to evade taxes in this case, but the punishment is pretty severe (up to jail time) so I don't know if the risk is justified.

I know that the US tax system is very strict. But there has to be a threshold above which they need to report the wins? I don't think that the IRS will be pissed off if someone doesn't report his win of $10. From what I understand, there is a threshold of $600 on Form 1099-MISC. Any miscellaneous income under this threshold is not taxable (I am not an US citizen, and please correct me in case I am wrong). I guess it is possible to classify these small wins as miscellaneous receipts. And in case you win a big amount, then you can report it in your return.

I am not a US citizen, so I cannot correct you, but I think that some threshold exists. But reaching this threshold may look different for different states, as I heard in some states the order is absolutely absurd: for example, if you won 80 bets of 10 dollars while losing 90 bets of 10 dollars, then from the tax point of view you won 800 dollars. Although it is obvious that you ended up losing $ 100.

[sunsilk]

It's one thing for sure if a country or state declares any type of betting as a legal activity and that is to generate another revenue for their government.

That's usually really the reason why they do that because they can't ignore to imagine that how much they would be missing if they're not going to act on it fast and just let it pass.

Hopefully, in this pandemic, that can still contribute to the country and give more revenue for the country. It could be a strategy to attract people who like gambling to come to the casino, the casino will get revenue and pay the tax, and the country will get the tax. Hopefully, the government is ready to see many people visiting the casino and spending more money because people will think that gambling can be their fortune to make money.

It will.

AFAIK, in most states of the US, they're almost back to normal so passing this legality about fantasy sports betting will truly contribute to their government.

What you've said is what is the usual thing that happens for the casinos and its relations and contribution to a country's economy.

[Sithara007]

I am not a US citizen, so I cannot correct you, but I think that some threshold exists. But reaching this threshold may look different for different states, as I heard in some states the order is absolutely absurd: for example, if you won 80 bets of 10 dollars while losing 90 bets of 10 dollars, then from the tax point of view you won 800 dollars. Although it is obvious that you ended up losing $ 100.

I don't know whether there is a threshold. At least for the cryptocurrency users, there is no threshold. In the United States, the cryptocurrency users are supposed to include all their cryptocurrency transactions in the tax return, no matter how small they are. So even if you are doing a cryptocurrency trade worth $5 or $10, you need to show that in the return. I guess the same rule is used for gambling as well. As per my information, you can't club together all the transactions and make a single entry. Separate entries need to be made for each transaction, even for very small amounts.

[STT]

Thats a horrible bias against the smallest citizens then, the largest transactions will belong to the rich who can employ an accountant to do it all for them and justify that whole expense.   If you put a red tape paperwork burden on the very smallest participants in an economy you create an imbalance and effectively criminalize a population for wanting to do normal business.  Its unfortunate if that is the case, I would think the only defense of the poorest is they are too small to be of concern on any particular charge but thats a poor way to run a legal system by suspended threat with every citizen potentially guilty by default.

[dimonstration]

In the Philippines, the impact of gambling has brought about billions and billions of profit over the past year from gambling revenue alone. Imagine if other gambling establishments were to be recognized and legalized, the impact and profit could be an essential factor in dealing with poverty and education in the country. But the boundary has to be seen on which activities and establishments should be legalized.

The government is not equip yet in determining the websites or crypto activities in the country. They might still not know how to locate and track crypto users for taxing so what more when it comes in online gambling. Governments who are equip in determining these type of transactions didn't want to miss the money  that wil be involved in every betthey can get. It just need to have a proper implementation to seek whether ithey implement rules and law in a riggt way.

[Gozie51]

With government what is concerned and the business of governance is to look ways of protection and generate income to pursue projects too to better the land. Fantasy sports is not really known to many and I don't think it is that popular in Nigeria. To legalize it in Arizona means it is old enough to  formalize it and generate income with it. The signing of this law by Doug Ducey has expounded the betting in Arizona.

More of the information

[Kittygalore]

How is it any different than a normal sports gambling for that to be legalized as if it's a different kind of gambling? Can someone tell me the difference because from what I've seen, there's not that much difference to a normal gambling.

[Gozie51]

How is it any different than a normal sports gambling for that to be legalized as if it's a different kind of gambling? Can someone tell me the difference because from what I've seen, there's not that much difference to a normal gambling.

From the information when you search online about it, I think it involves a team which you select for both sides then you belong to one team and off course you play to win the other team. Maybe I'm not very correct but I searched and got that on quote.
if you can do more searches to understand better.

Fantasy sports betting is a different concept from traditional sports betting, as you don't bet directly on the outcome of any sporting events. Instead you create a fantasy sports team and compete against opponents to try and win money.

[OgNasty]

How is it any different than a normal sports gambling for that to be legalized as if it's a different kind of gambling? Can someone tell me the difference because from what I've seen, there's not that much difference to a normal gambling.

It’s completely different from sports betting… Your betting on a collection of random individual’s stats compiled with an algorithm some team of developers made up to give an outcome that isn’t based on any team winning or losing. This leads to a greater level of trust in the service since results aren’t as easily verified as they might otherwise be. I imagine a great deal more oversight is involved from regulatory bodies as a result.

[finaleshot2016]

In the Philippines, the impact of gambling has brought about billions and billions of profit over the past year from gambling revenue alone. Imagine if other gambling establishments were to be recognized and legalized, the impact and profit could be an essential factor in dealing with poverty and education in the country. But the boundary has to be seen on which activities and establishments should be legalized.

The government is not equip yet in determining the websites or crypto activities in the country. They might still not know how to locate and track crypto users for taxing so what more when it comes in online gambling. Governments who are equip in determining these type of transactions didn't want to miss the money  that wil be involved in every betthey can get. It just need to have a proper implementation to seek whether ithey implement rules and law in a riggt way.

Agree, it will be a hard time for them to target these gambling platforms and make use of it since crypto is involved . It will be impossible for them to tax the cryptocurrency and the only possible way is to exchanges and local wallets. I can tell that because it's cryptocurrency and the impact is very high depends on the how much you'll risk.

[crzy]

How is it any different than a normal sports gambling for that to be legalized as if it's a different kind of gambling? Can someone tell me the difference because from what I've seen, there's not that much difference to a normal gambling.

In fantasy sports, you’ll be the one to create your team and choose the players that you want while in traditional sports betting, you already based your bet on the current team and that’s a more realistic betting. Fantasy is quite complicated though its also fun to bet like this, the score of the players that you have in real life can affect your fantasy team, and this is how you win on this kind of betting.

[LUCKMCFLY]

In Arizona since September 9, the legalization of casino games and sports betting is developing, and it will continue to develop but at a slow pace.

This type of culture is an example for some countries that are planning to eliminate everything related to the advertising of gambling, as is the case of Spain and India, I suppose it is due to protection measures, but the fact that in Arizona This system is implemented, it is an example to the world.

According to the state Legislature, Arizona should get about $15 million from sports betting. That money will go to the state’s general fund, which is the state’s main bank account used for running state agencies. The state is estimating the sports betting industry is worth $134 million a year.

Source: https://www.12news.com/article/news/politics/sports-betting-goes-live-arizona/75-ecaff4eb-0da2-4b96-a6bf-1e4c4b0c22a6#:~:text=The%20Arizona%20Legislature%20added%20sports,go%20into%20effect%20on%20Sept.

The news of prohibition is more popular than that of Liberties, this type of news should be repeated in the media and on social networks every day, so that people see the other reality.

I agree.

Seems like their Government started to accept that gambling industry is indeed contributing a lot of money in the economy, especially right now that we are just slowly rising up from the pandemic. Entertainment is very important to the majority of population since everyone is still at home being afraid to get infected by the virus. I hope Arizona will continue to legalized gambling industry to help its own economy to rise up again and build more things to make their country even more productive.

Well now everything is taking much more seriousness, for those who want to find the best places to bet in Arizona, I found this page where it gives very privileged information, in fact they talk about the App and everything so that players have full access to them:

Best Arizona Sports Betting Sites October 2021

The Arizona Department of Gaming oversees the regulation of sports betting and was charged with writing rules and setting tax rates and license fees. For sports bettors looking to find the latest news on AZ sports betting, the best sports betting sites and sportsbooks welcome offers in Arizona, you've come to the right place.

Source: https://bookies.com/arizona

The good thing about all this is that things are going great for Arizona, with an extreme order for the sites, with its trust in the law it can become one of the havens for gambling and sports betting.

[gagux123]

I’m just now finding out that last week Arizona changed their stance on sites like DraftKings for online sports betting. It seems like states are legalizing things that bring them revenue at a pretty good clip. I’m particularly happy about this one though, as I’ve had money stuck on my DraftKings account for a long time now. I might have to get into fantasy sports.

Hmm, what interesting news.
I believe that with the release of fantasy sports betting it will consequently generate more revenue for the state/country.

I'm totally beginner to gambling, but could anyone let me know what were the reasons the state of Arizona (and elsewhere) had banned fantasy sports betting? Any specific reason? addiction or something like that?

Thanks!

[harizen]

How is it any different than a normal sports gambling for that to be legalized as if it's a different kind of gambling? Can someone tell me the difference because from what I've seen, there's not that much difference to a normal gambling.

We can conclude that sports betting there is the most hype gambling game compare to the usual normal gambling like those luck-based games. The fact that it's now legal, brace for massive gamblers that will place a bet. According to the article here, 45 Million people are expected to place their bets on football alone this season. It shows about 5% of gamblers eventually develop an addiction. That's a huge number.

But on the industry side, legalizing sports betting will result in increased revenue of that state. Checking also to the article I linked, Colorado legalizing sports betting gained $18 million in revenue during the first year. Nevada has more than $61 million. Some of the highest revenue seen in any state that's legalized sportsbooks. It's expected that Arizona will follow too that decent revenue in their first year and so on.

[Lakai01]

How is it any different than a normal sports gambling for that to be legalized as if it's a different kind of gambling? Can someone tell me the difference because from what I've seen, there's not that much difference to a normal gambling.

I also see that here is not really a difference to "classic" sports betting. Only the risk factor is much higher in my opinion. You know real teams, you also know the influence of e.g. "English weeks" in soccer on the teams. With Fantasy Sports you don't have this influence and in my opinion it is much harder to estimate how well a team will perform.

[worle1bm]

Really good news for the sports betting enthusiast and now they could now legally makes bet upon their favourite games.Overall it will serve to many players as games like football,cricket have huge audience and billion dollars bet are placed on World championship so they also want profits at mass level.

I just googled about it and found a link where you can play and bet on sports betting.

 https://sportshandle.com/arizona/

[michellee]

Really good news for the sports betting enthusiast and now they could now legally makes bet upon their favourite games.Overall it will serve to many players as games like football,cricket have huge audience and billion dollars bet are placed on World championship so they also want profits at mass level.

I just googled about it and found a link where you can play and bet on sports betting.

 https://sportshandle.com/arizona/

Hopefully, that can also give more income to the government as the gambling business contributes to the tax income. People will search the casino which they can place their bet in their favorite sports and maybe they will try one by one of the sites if they use an online gambling site to place a bet. If the casino can give many matches to the audience, they will see how much money will be turned around on their place, which means more revenue that the casino will get.

[Kittygalore]

~

From the information when you search online about it, I think it involves a team which you select for both sides then you belong to one team and off course you play to win the other team. Maybe I'm not very correct but I searched and got that on quote.
if you can do more searches to understand better.

Fantasy sports betting is a different concept from traditional sports betting, as you don't bet directly on the outcome of any sporting events. Instead you create a fantasy sports team and compete against opponents to try and win money.

I also did my due diligence and searched about it and you're right it's as you say it is, I don't find it fun though, I mean they can probably do some sort of tweaking to your opponent without your knowledge so I don't trust this kind of game.

[XCANA]

Hi OgNasty, can you give an example of popular fantasy sports betting? I gotta be honest, I heard of this but I have not played this type of game and I don't know what kind of betting sites in the crypto space that are offering this kind of game.

Also, can I request the link to the full story or news, I'd love to read the full details regarding this.

Maybe next time before you ask this kind of question requesting for a link to the news just use that same time you waist in typing the question here to google what you are looking for as that will safe so many people time to read more reply here my brother. OG has answered your question by giving you explanation of what fantasy sports is all about and though didn't provide you the link but here is the link to the news https://www.legalsportsreport.com/arizona/

Don't be harsh. The user is asking for a betting site that offers fantasy sports that accepts crypto.

I looked at the link you provided, checked the first 5, and didn't saw crypto as one of their payment methods.

If you can found one, then it would be awesome to share it here.

Sorry if I sounded harsh in my submission above though I don't really mean to be harsh anyway for there is nothing really here for one to be about. I was able to provide a News link and really the one you are asking for since I don't have enough time to research more about that now please.

[KTChampions]

I am not a US citizen, so I cannot correct you, but I think that some threshold exists. But reaching this threshold may look different for different states, as I heard in some states the order is absolutely absurd: for example, if you won 80 bets of 10 dollars while losing 90 bets of 10 dollars, then from the tax point of view you won 800 dollars. Although it is obvious that you ended up losing $ 100.

I don't know whether there is a threshold. At least for the cryptocurrency users, there is no threshold. In the United States, the cryptocurrency users are supposed to include all their cryptocurrency transactions in the tax return, no matter how small they are. So even if you are doing a cryptocurrency trade worth $5 or $10, you need to show that in the return. I guess the same rule is used for gambling as well. As per my information, you can't club together all the transactions and make a single entry. Separate entries need to be made for each transaction, even for very small amounts.

I don't even know which option is worse. And I would like to see the report submitted by a dice player with a million bets made. Processing such an array of information is clearly unprofitable for the state - no taxes will compensate for the resources spent on such nonsense. Another evidence that the state is not interested in a successful result - the process that makes them necessary is important for officials.

[Sanugarid]

Wouldn't it be easy to win this one? My reason for thinking that is you are assembling the team so what stops them from forming a formidable one to make sure that they can increase the chances of winning if not guaranteeing a win.

[Woodie]

This is good news.

I actually checked out the DraftKings website and just noticed that they have already listed Arizona to be among the fourteen states you can access these guys platform,just hoping that more states join to help grow the sport.

Am also hoping that with this move of legalizing this sport players involved in these sports won't have a conflict of interest and choose to bet on themselves secretly.

[bryant.coleman]

I don't even know which option is worse. And I would like to see the report submitted by a dice player with a million bets made. Processing such an array of information is clearly unprofitable for the state - no taxes will compensate for the resources spent on such nonsense. Another evidence that the state is not interested in a successful result - the process that makes them necessary is important for officials.

Well... in 99% of the cases, such information will not be processed by the IRS. The cross-checks and validations will be done only if there is a genuine suspicion that the individual is evading taxes. In other cases, the officials will just tabulate the totals and ignore the detailed transaction list. The same goes with cryptocurrency transactions as well. As far as I know, all the transactions being made with crypto needs to be reported in the tax return (even if it is crypto to crypto transaction). For someone who does day trading in cryptocurrency, this means that the tax return may be a enlarged by a few dozen pages at least.

[KTChampions]

I don't even know which option is worse. And I would like to see the report submitted by a dice player with a million bets made. Processing such an array of information is clearly unprofitable for the state - no taxes will compensate for the resources spent on such nonsense. Another evidence that the state is not interested in a successful result - the process that makes them necessary is important for officials.

Well... in 99% of the cases, such information will not be processed by the IRS. The cross-checks and validations will be done only if there is a genuine suspicion that the individual is evading taxes. In other cases, the officials will just tabulate the totals and ignore the detailed transaction list. The same goes with cryptocurrency transactions as well. As far as I know, all the transactions being made with crypto needs to be reported in the tax return (even if it is crypto to crypto transaction). For someone who does day trading in cryptocurrency, this means that the tax return may be a enlarged by a few dozen pages at least.

In my country there is a proverb: "The severity of the laws is compensated by the non-binding nature of their implementation." On the one hand, this is ridiculous, on the other hand, I would not want such a situation to be in the United States. To be honest, I do not understand the very idea of declaring our crypto transactions - after all, we pay taxes on income, and we receive income at the time of cashing property/cryptocurrency. Therefore, until this moment has come, I do not see any sense in such reports.