Whats is Fantasy
In early October 1995, a fantasy hockey website was released by Molson Breweries. It was part of the company's "I am Online" strategy and centred on its "I am Canadian" advertising campaign; it would focus on music, entertainment and hockey. It allowed visitors to register accounts and participate in hockey leagues of nine teams, in which the visitor would be the general manager for one of those teams. The general manager would draft a team from a pool of NHL players, and could later negotiate trades with other teams in the league. Disputes would be arbitrated by a commissioner by email. The site included updates of NHL statistics, also provided content, from the Hockey Hall of Fame. On 24 May 1996, Molson Breweries won the International Digital Media Award for best website of 1995.
Commissioner.com launched on January 1, 1997 and first offered a fantasy baseball commissioner service that offered statistics, league message boards, updated box scores and other features. Commissioner.com was sold to SportsLine, late in 1999, for $31 million in cash and stock. By 2003, Commissioner.com helped SportsLine generate $11 million from fantasy revenue. Commissioner.com is now the fantasy sports engine behind the CBSSports.com fantasy area (after SportsLine was sold to CBS in 2004).
RotoNews.com launched in January 1997 and published its first player note on February 16, 1997. Within two years RotoNews had become one of the top ten most trafficked sports sites on the web, according to Media Metrix, ranking higher than such sites as NBA.com. RotoNews.com was sold to Broadband Sports in 1999 and later survived as RotoWire.com.
The growth in fantasy sports revenue attracted larger media players. Yahoo.com added fantasy sports in 1999 - a new business model for fantasy sports. A trade group for the industry, the Fantasy Sports Trade Association was formed in 1998.
Other entries to the market during this era included Fanball.com, launched in 1999 by the parent company of Fantasy Football Weekly.
An early survey of the fantasy sports market in the U.S. in 1999 showed 29.6 million people age 18 and older played fantasy games. However, that figure was reduced in later years when it was determined the survey also included people who play NCAA bracket pools, which are not fantasy sports, since they involved picking teams, not individual players.
While fantasy sports were fueled by the dot-com boom of the Internet, there was a turbulent period when many of the high-flying Internet companies of the era crashed in 2001. Fanball.com went bankrupt in 2001, (later to re-emerge in 2001).
There were also different business models. RotoNews.com launched the Web's first free commissioner service in 1998, quickly becoming the largest league management service.
Two years later the trend reversed. Sportsline moved back to a pay model for commissioner services (which it largely still has today). TheHuddle.com, a free site since 1997, started to charge for information. RotoWire.com moved from a free model to a pay model in 2001 as well. Despite the economic instability, fantasy sports started to become a mainstream hobby. In 2002, the NFL found that the average male surveyed spent 6.6 hours a week watching the NFL on TV; fantasy players surveyed said they watched 8.4 hours of NFL per week. "This is the first time we've been able to demonstrate specifically that fantasy play drives TV viewing," said Chris Russo, the NFL's senior vice president. The NFL began running promotional television ads for fantasy football featuring current players for the first time. Previously fantasy sports had largely been seen in a negative light by the major sports leagues.
Fantasy sports continued to grow with a 2003 Fantasy Sports Trade Association survey showing 15 million people playing fantasy football and spending about $150 a year on average, making it a $1.5 billion industry. More recently a 2013 article by Forbes.com shows 32 million Americans spend $467 per person or about $15 billion in total playing. https://www.forbes.com/sites/briangoff/2013/08/20/the-70-billion-fantasy-football-market/#30a3709d755c
In autumn 2008, the Montana Lottery, one of only four U.S. states to legalize sports betting at the time, began offering fantasy sports wagering for the first time.
Since 2012 there has been a boom of apps being built for fantasy.
Daily fantasy sports
Main article: Daily fantasy sports
Daily fantasy sports (or DFS) contests are played across shorter periods of time, such as a single week of a season, rather than an entire season. Daily fantasy games are typically played as "contests" subject to an entry fee, which funds an advertised prize pool and an administrative fee is partially collected as revenue for the service.
Daily fantasy sports began to emerge in 2007 with the launch of Fantasy Sports Live. In 2008, NBC launched SnapDraft; and FanDuel quickly became the prominent DFS site shortly after it launched in 2009. DFS experienced a major increase in prominence in 2014 and 2015 with the dramatic growth of two competing services: DraftKings and FanDuel. Both received venture capital investments from various firms, including sports teams and broadcasters, and became known for running aggressive marketing campaigns with an emphasis on large cash prizes.
The legality of daily fantasy games has been challenged, with critics, as well as the state of Nevada, arguing that they closer-resemble proposition wagering on athlete performance than a traditional fantasy sports game, while DraftKings' CEO has referred to its games as being similar to online poker. DFS providers have cited the UIGEA's exemptions of fantasy sports as being a general exception for their legality; their legality is subject to how individual states classify a game of chance.
Daily Fantasy Sports have not historically offered in 5 states [Iowa, Arizona, Louisiana, Montana, Washington] that have laws stating a game that involves any chance is gambling. In addition several other states have murky legal environments for paid fantasy sports contests with negative AG opinions or in the case of Nevada, requiring a gambling license. As a result, Draftkings and Fanduel are active in only 39 states. Neither is currently accepting customers in Washington, Idaho, Montana, Arizona, Hawaii, Iowa, Louisiana, Alabama or Nevada. Additionally, Fanduel is not accepting customers from Texas. In his final remarks at the January 2016 FTSA conference in Dallas, Fantasy Sports Trade Association President Paul Charchian said "We need to formally legalize fantasy play in 50 states."
However, since initial legal challenges, 19 states have since enacted laws confirming that DFS contests are legal games of skill.
Fantasy Cricket Matches
A fantasy cricket match is based on batting and bowling orders, which are the most debated part of cricketing strategy. A small change in the order can change the course of the game. The concept involves selecting a team of 11 players and 3 substitutes from the pool of players who play the match. There are no budget caps and player selection is not limited to a particular number of batsmen, bowlers and all-rounders. A fantasy team can have any type of players. The main aim in a fantasy cricket match is to outscore the opposition by as large of a margin as possible. Fantasy cricket matches can be played in all three international forms: One Day International, Twenty20 and Test Cricket. The limited over matches, namely the One Day Internationals and Twenty20s, are played in two formats – daily games and rounds. Fantasy cricket is classified as a "game of skill", similar to fantasy sports in the United States. Fantasy Cricket for Cash is at the hub of three dynamic industry spokes – Internet, gaming and cricket.
The Supreme Court of India has explained skill in terms of superior knowledge, training, attention, experience and adroitness. In K.R. Lakshmanan v. State of Tamil Nadu AIR 1996 SC 1153, it stated as follows:
"A game of skill, on the other hand – although the element of chance necessarily cannot be entirely eliminated – is one in which success depends principally upon the superior knowledge, training, attention, experience and adroitness of the player."
The relevant excerpt from the Supreme Court's judgment is: "There are few games, if any, which consist purely of chance or skill, and as such a game of chance is one in which the element of chance predominates over the element of skill, and a game of skill is one in which the element of skill predominates over the element of chance. It is the dominant element – 'skill' or 'chance' – which determines the character of the game."
The court categorically stated the meaning of skill (in paragraph 20), in the following terms: "We, therefore, hold that the expression “mere skill” would mean substantial degree or preponderance of skill." In the case, the Court considered Section 11 of the Tamil Nadu Gaming Act, which excluded the application of the act to games of ‘mere skill’, and is in pari materia with Section 12 of the Public Gambling Act of 1867. In that case the Court concluded that horse-racing was a game of skill.
Credits : wikipedia