If you throw money into a March Madness pool, you have made an illegal sports wager.
Every year, hundreds of billions of dollars are wagered on sports. Think about that. Hundreds of BILLIONS of dollars. And most of this action is done illegally or away from the confines of traditional domestic regulations. There are at least 5 offshore sports books that EACH do more business than the entire state of Nevada every year.
Not surprisingly, some states are trying to get in on the action. Most recently, New Jersey passed legislation to allow sports betting, however the federal appeals court struck down this law and the Supreme Court decided not to hear the case.
In this course, Clay will describe the legal framework around sports betting in the US and New Jersey’s recent attempts to allow sports wagers. Then Clay will compare the US laws to Great Britain, which allows sports betting to take place – sometimes even in the stadium, similar to US horse racing. Finally, Clay will discuss the fantasy sports exception and how, amazingly, daily fantasy contests are allowed to be played for money, while traditional sports wagers are not.
This course is incredibly relevant to the current sports landscape. Fans want to have skin in the game and sites like Fan Duel and Fantex are trying feed that demand. Even the NFL is getting in on the action by announcing that they will be launching paid fantasy leagues in 2014 where fans can win exclusive prizes.
This course has been approved for credit in Alabama & Tennessee with many more applications pending. If your state has approved one of our other courses, there is a good chance this course will be approved soon.
Missouri lawyers: Outkick CLE classes are considered “self study” and are subject to a 6 hour cap per year. Self study classes cannot be carried over to the next year and may not be used to satisfy the professionalism, ethics or malpractice prevention education requirements of Rule 15.
New York lawyers: Outkick CLE courses will count toward your New York CLE requirement under New York’s Approved Jurisdiction policy. To read the policy in full, please see the New York CLE Board website.