A frequent question people looking in to daily fantasy sports sites have is, “Is DraftKings a scam?” They ask this because they know that gambling online is illegal, yet this site claims to offer real money prizes betting on fantasy sports. The truth is, the site is 100% legit and 100% legal (except for residents of Arizona, Iowa, Louisiana, Montana, Washington, and Quebec due to state-specific laws).
Due to a loophole in the 2006 law that made online gambling illegal, this and other daily fantasy sports sites are able to pay out real money.
The law that made online gambling illegal, 2006’s Unlawful Internet Gambling Enforcement Act, explicitly carved out an exemption for fantasy sports online. This was done because millions of Americans use websites to run their season-long fantasy leagues.
Since money is often wagered on this, suddenly millions of people would find themselves on the wrong side of the law. In order to prevent this, fantasy sports were exempted from these rules.
These same rules apply to daily fantasy sports. The only difference between season long fantasy sports and daily fantasy sports is the length of a particular game.
Therefore you can be confident that you are not running afoul of the law by depositing to DraftKings. It is completely legal, the money you win is legit, and everything is done above the board.
Just because it is legal, however, does not necessarily mean that it is legit. Fortunately, DraftKings is not a scam and they work exactly as advertised. They are based in the USA, meaning they are subject to American law. This is not some shady operation based on a small Caribbean island that you’ve never heard of.
It is an American company that has been featured in major publications such as the Wall Street Journal and the Boston Globe. You can trust DraftKings because it has been endorsed by these reputable news outlets.
It means they are not scamming you when they offer great deposit bonuses or the amount of games that they have. It is very easy to deposit with your PayPal account, and if you win, you can withdraw that money immediately back into your PayPal. There is no waiting for a check or extra hoops to jump through – you are paid immediately upon winning and will have access to that money as quickly as PayPal can process it.
Often this is done immediately. The reason we play daily fantasy sports is to win cash, and at DraftKings, you will get the fastest payouts in the industry.
If you are hesitant to deposit into DraftKings because you fear it is a scam, don’t worry. The claims may sound too good to be true (especially for people who lost money when the government shut down the online poker sites) but they are exactly as advertised.
If you love fantasy sports and want to play every day, make a deposit to DraftKings. There are thousands of satisfied players on this site playing daily.
Category: Tips & Info