Nevada Gaming board: Daily fantasy sports is gambling

It turns out that just because it is a new season every week, it doesn’t mean it’s not gambling.

The Nevada Gaming Control Board, the organization that oversees gambling and gambling-related activities in the state that is the home to Las Vegas, has determined that daily fantasy sports (DFS) sites like DraftKings and FanDuel are gambling. This means that the aforementioned sites will have to cease their operations in Nevada until they have filed for the appropriate licenses. This comes after the daily fantasy sports industry, which has grown into a $2.6 billion business annually, has spent hundreds of millions of dollars on advertising for this year’s National Football League season. DraftKings and FanDuel are also both facing scrutiny for an “insider betting” scandal where certain employees made wagers allegedly using information not available to the public.