DFS Players Create Fantasy Sport Control Agency To Monitor Industry
The growing controversy surrounding daily fantasy sports has resulted in the main industry players opting to impose self-regulations before the government forces them to do so. According to reports in the Wall Street Journal the DFS industry is forming the Fantasy Sport Control Agency (FSCA).
The Fantasy Sports Trade Association (FSTA) sent a letter to their members detailing the move. The FSCA will be headed by former acting U.S. Secretary of Labor, Seth Harris. The idea behind the new governing body will be to create incentives for compliance and impose penalties for non-compliance. The FSCA will be a private organization and will not fall under the auspices of the government.
CEO of FanDuel Nigel Eccles had this t say on the creating of the FSCA,” We’re pleased that the FSTA is leading this effort for self-regulation and forming an independent agency for the entire fantasy industry. We look forward to working with the FSTA and all of their member organizations to ensure that our collective products adhere to a baseline of best practices.”
Rival CEO of DraftKings Jason Roberts gave his side,” We are committed to working with the Fantasy Sports Control Agency, the FSTA and all relevant government authorities to ensure that our industry operates in a manner that is completely transparent and fair for all consumers. At DraftKings, we recognize our responsibility to the millions of fans who are captivated by the excitement and interactive nature of daily fantasy sports, and ensuring a level and fair playing field for all players is a fundamental tenet of our company. We believe the Fantasy Sports Control Agency will help our industry establish best practices that further this important goal.”