There’s current legislation in Georgia that would authorize and regulate fantasy sports, games that require players to use research and skill to put together a winning roster under a salary cap, just as a general manager for the Braves, Falcons or Hawks must do. Today, 1.5 million Georgians participate in these games.
The discussion tends to focus on the major players in the fantasy sports space – ESPN, CBS, DraftKings, FanDuel and Yahoo – but there is an entire ancillary industry that offers various products like research tools for fantasy players, data and analytics, commentary and more. Considering that fantasy sports is now a $20 billion a year industry, the potential is immeasurable. I founded one of these startup businesses right here in Atlanta, SidePrize, a safe and secure payments solution for handling fantasy league dues and additional contests.
States across the country are acting to regulate fantasy sports, add consumer protections and capture new tax revenue. Those states will have a major leg up in the race for businesses and job creation in a rapidly growing industry. State Rep. Trey Kelley’s, R-Cedartown, bill would provide the proper safeguards. Let’s pass it into law and get to work on creating new jobs.
Adam Wexler is the CEO of SidePrize, based in Atlanta.