SBC News Voice of the Sports Betting Industry
Writing an open letter to the media and DFS consumers, Nigel Eccles CEO and Co-founder of FanDuel has called for the US federal government to begin to regulate the industry.
Eccles who leads FanDuel operations from New York and Edinburgh, stated that government intervention was the only way to ensure consumer trust and protection in the DFS market.
In his letter, Eccles states that federal laws and business practices need to be implemented for all US DFS operators to adhere to. Eccles calls for tougher standards with regards to player fund protections, player age verifications, outside (3rd party) operator auditing and operational compliance.
Amid growing industry scrutiny, FanDuel’s CEO has welcomed the formation of the Fantasy Sports Control Agency (FSCA), however Eccles warns that consumer trust can only be gained through federal industry regulation.
“It has become apparent to me that our industry has grown to a size where a more formal, industrywide approach is needed. To be clear, our industry needs strong, common-sense, enforceable consumer protection requirements to ensure its continued growth and success,”
“A number of smart, but tough proposals in various state legislatures have begun to emerge, which I believe can serve as the basis for the sensible regulation of the fantasy sports industry.”
Eccles closes his open letter, by stating that he supports multiple US states efforts to introduce regulations with regards to DFS services.
