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00:03 Okay, now let's get into the latest in terms of, as you mentioned, fantasy sports.
00:06 Regulators in a lot of states are looking to these single player daily fantasy games.
00:11 It seems like a major crackdown is coming down now with sports betting being legal.
00:16 Trying to mimic sports betting through daily fantasy seems like it's an option
00:21 that could be going away, Sam.
00:22 >> Yeah, it's sort of all of a sudden we're seeing, yeah,
00:27 half a dozen states now in the last two weeks coming out and
00:30 taking some sort of position against these single player daily fantasy sports games.
00:35 Which for all intents and purposes, sort of simulate player prop betting.
00:39 And are available in a lot of states where sports betting is not legal.
00:42 So these companies have existed for a while.
00:45 We haven't really seen much done against them.
00:48 But all of a sudden, these regulators in Wyoming, New York, Ohio, Maine,
00:54 you name it, Massachusetts.
00:55 There's a ton of states coming out and saying, either we don't think that this
00:59 is actually fantasy sports.
01:01 You gotta remember fantasy sports, or daily fantasy sports rather,
01:04 has traditionally been lineup based contests where you're competing against
01:08 a pool of players and the top one or 2% win a prize.
01:12 And it's usually the same players winning over and over.
01:14 And that has sort of protected those contests from being classified as sports
01:19 betting.
01:19 But when you have these contests where it's player versus the house,
01:23 where you select a combination of athletes that are either gonna go over or
01:27 under or more than less a given stat line.
01:29 It very much tows the line of sports betting, if not going beyond that.
01:34 And the position on fantasy sports varies greatly across the country.
01:39 But now all of a sudden you're seeing states take action against it.
01:41 And it will be really interesting to see what these regulators do.
01:44 You have New York coming out saying that these are effectively just mimicking
01:48 sports betting.
01:49 And other states coming out sending cease and desist letters to these companies.
01:53 So it's really kind of interesting.
01:55 It's coming all the way ahead right now.
01:57 And it'll be interesting to see how A, the sportsbooks respond, and
02:00 B, the companies themselves respond.
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