LAS VEGAS (AP) — Nevada gambling regulators have approved a new platform that will allow bets in a fantasy sports model.
The Nevada Gaming Commission voted Thursday to give a gambling license to Henderson-based US Fantasy.
The newly developed sports system essentially blends sports betting with elements of traditional fantasy sports contests.
US Fantasy and traditional fantasy systems, such as the popular DraftKings and FanDuel models, differ primarily in the way they pay out winners.
US Fantasy’s payout depends on what and how other gamblers are betting, while traditional fantasy sports sets an established prize money amount.
The new Nevada platform also declares fantasy sports betting as gambling, despite the industry arguing in the face of legal challenges across the country that its games are not gambling.
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