The bill still awaits Gov. Chris Christie’s signature, but the new DFS offering from Resorts will be in line with regulations once they are signed into law.
Resorts new offering called FastPick
The DFS game at Resorts is not like the typical DFS you may be familiar with. First of all, it is a game players play against the casinos rather than other players.
FastPick presents a daily list of matchups in a variety of sports. Each matchup pits one player against another on which one will score more fantasy points. Users pick a minimum of three matchups up to 10 matchups. Wagers on these matchup bets range from $10 to $200. In order to win, all of your matchups in the bet have to win. The maximum payout is $100,000.
The offering is only available online. It is also limited to players over the age of 21 and located in the state of New Jersey. Players can deposit via PayPal.
Currently the site only offers baseball. However, the site appears ready to also offer football, basketball, hockey, and soccer. FastPick appears to exclusively offer professional sports, nothing at the collegiate/amateur level.
Where does DFS stand in New Jersey?
The bill to regulate and license DFS passed, but as mentioned, it is not law yet. Christie needs to sign the bill. By launching in advance of the bill, Resorts’ FastPick should ideally be able to run seamlessly, so long as the casino successfully obtains a license.
Right now, DFS games currently run in the state by sites like Fan Duel and Draft Kings. However, once the bill goes into effect, all of these sites will need to obtain a license. Then the games on these sites will be taxed at a rate of 10.5 percent.
Legal Sports Report says the FastPick game is in compliance with the new bill, even though it is not a peer-to-peer game.
Don’t forget the NJ sports betting case either
Resorts offering DFS is a step for New Jersey casinos. Should the Supreme Court rule favorably in the forthcoming sports betting case this fall though, FastPick will be just the beginning of what casinos will offer. Perhaps Resorts is aiming to set itself up as the place to bet in New Jersey.
By investing in something relatively minor like FastPick, Resorts is putting the framework in place to quickly start offering even more sports wagers should SCOTUS open sports betting to the rest of the state.