It has been reported that The Philadelphia Inquirer's website has become the first United States newspaper site to offer legal online fantasy sports wagering which pays out
in real money.
Online gambling is illegal in the United States, but there is an exception for fantasy sports. The The Philadelphia Inquirer's website has teamed up with FanDuel for the venture. The set-up for the initiative sees the fantasy teams can be assembled for a single day, instead of the season-long nature of the majority of existing fantasy sports games.
An article on editorandpublisher.com explains that in its announcement of the venture, FanDuel stated: "Thanks to the fantasy sports carve out in the 2006 Unlawful Internet Gaming Enforcement Act, these instant fantasy games are legal in the U.S. -- something that the FanDuel team has been very careful to adhere to. FanDuel and its partners generate revenue from taking a commission on each game."
According to the editorandpublisher.com article, FanDuel claims some players are winning more than $16,000 in a month.
(With files from editorandpublisher.com)