Washington, D.C. – Nevada Senator Harry Reid released the following statement after FanDuel CEO Nigel Eccles called for the regulation of fantasy sports:
“I was glad to see FanDuel CEO Nigel Eccles agree with what I have said all along: That fantasy sports websites need to be regulated. But regulations are only good if they are enforced, and the self-policing solutions offered by the fantasy sports companies are not strong enough to instill public confidence. I encourage state and federal officials to examine this industry more closely and make sure they have the adequate tools to regulate what is essentially gambling by another name.
“Daily fantasy sports is the only unregulated gambling operation in the country, and we already have seen the consequences of that with reports of cheating and insider betting among these companies. And that’s in addition to the risks posed to children and young people who have the unfettered ability to gamble thousands of dollars a day with these unregulated companies. Without strong oversight, there is nothing stopping these terrible things from happening and we will continue to see more corruption from this unregulated, illegal gambling.”