USFantasy expected to be up and running Friday afternoon
September 09, 2016 10:13 AM
by Robert Mann
UPDATE 9.10.16: Still no official word Saturday morning on USFantasy, the new Nevada entity hoping to begin offering its fantasy wagering menu in some Nevada sports books.
The bulk of the NFL schedule starts Sunday.
A check of the fledgling enterprises website, usfantasy.com, failed to indicate any location taking wagers, as yet.
It’s believed a final regulatory approval must be granted by the Nevada Gaming Control Board (NGCB) before official operations can commence.
USFantasy, gaming pioneer Vic Salerno’s freshly-minted fantasy football operation is expected to be up and running sometime Friday afternoon, GamingToday has learned.
What has been described as just a little bit of “red tape” on the part of state gaming officials is the only roadblock remaining. Visit GamingToday.com later today for an update on the availability of USFantasy offerings and locations.
USFantasy is a pari-mutuel approach to the burgeoning fantasy sports business conceived by Salerno, a legendary bookmaking pioneer in Nevada. Among a myriad of offerings will be a $1million guaranteed Pick 7 contest for picking the winners in seven categories. The minimum wager for the Pick 7 contest will be $1.
Salerno has indicated he predicts slow growth at first, but expects other states, including many eastern states and California, to soon be onboard with the concept. With other states involved, handle is expected to grow quickly.
Pari-mutuel wagering, long the norm in horseracing, operates with players betting into a pari-mutuel pool. Monies are distributed to the winners after a pre-determined takeout is deducted. Salerno says his takeout will be about half the average 20 percent in horseracing. The takeout is used to cover expenses including taxes, operating costs and profit for USFantasy and host establishments.
USFantasy holds the first daily fantasy license granted by a regulatory body in the United States.