The uncertainty of emerging gaming markets presents both opportunities and challenges. Pick’em style fantasy sports, while appealing to a younger audience, face regulatory crackdowns in several states. Skill-based real-money gaming and peer-to-peer social wagering are more accepted. As legalized gambling expands, thorough legal counsel is crucial for navigating the evolving regulatory landscape.
Author: Artaev at Law
Dan Artaev is an expert attorney, specializing in business law issues that affect modern high-tech businesses. Dan’s international background, as well as 10+ years of experience in private business litigation, contract law, and as a government labor lawyer are especially valuable to his clients. Dan is also a proud husband, dad, and cat owner with many hobbies, including triathlon training.
e-mail: dan@artaevatlaw.com
Skill-Based Gaming 2024: Demand For Innovation Amid Regulatory Uncertainty.
Artaev at Law, established in 2020, focuses on real-money skill-based gaming, a growing market. FanDuel’s entry into this space signals broader trends. Skill gaming appeals to varied demographics and offers potential for brand expansion. State and federal regulations are struggling to keep up. Artaev at Law offers legal guidance for gaming ventures.
The Surging Demand for Novelty Prop Betting in the United States: Is This an Opportunity for the Peer-to-Peer Model?
This year’s Super Bowl LVIII has sparked an unprecedented interest in “novelty wagers” related to Taylor Swift’s expected appearance, in addition to the traditional football game bets. While traditional sports books limit non-football-related bets due to state licensing rules, offshore options may pose legal risks for U.S. customers. The emerging peer-to-peer model offers potential solutions and exciting possibilities for customizable gaming.
Are Skill-Based Real-Money Games Legal in the United States?
The real-money skill gaming sector is expanding in 2024, with popular games like skill-based solitaire, bingo, and 21 Blitz. However, legal and regulatory challenges exist in the U.S., including platform guidelines, state laws, and social media advertising. Each state has its own gambling regulations, affecting the distribution and operation of real-money skill games. Payment platforms like PayPal and Venmo also raise compliance issues.
DePIN Networks and Utility Tokens: Legal Considerations for the Physical Applications of Blockchain Technology.
Imagine creating a product that sells data, such as a mapping or telecommunications service. These are capital-intensive businesses with immense startup costs. Barriers to entry may seem insurmountable – after all, if you wanted to compete with Verizon or AT&T, the cost and availability of cell phone towers alone would be cost-prohibitive. Same with competing…
Are Cryptocurrency Games of Skill Legal in the United States?
Real-money games of skill are unregulated and thus legal in the majority of the United States. While there are specific best practices for launching your project, games where skill is the predominant or material factor in deciding the winner are generally not considered prohibited gambling. With the rebound of cryptocurrency markets in 2024 and a…
Skill-Based Gaming: What is a Legal Opinion? Why Do I Need One?
The rapid technological advancement (think blockchain and AI) that has occurred just over the past several years has shaken up many industries – and the gaming market is no exception. A sector once dominated by simple, coin-operated arcade machines has now evolved into a sprawling ecosystem of online platforms, mobile applications, and sophisticated consoles. One…
How to Advertise Real-Money Gaming on Meta in 2023: A Legal Opinion is Still Required.
Meta (formerly known as Facebook) remains an attractive forum for real-money gaming companies looking to advertise their skill-based gaming apps, esports, and fantasy sports offerings. However, Meta has a strict policy that requires an application and approval before any “online gaming” ads can run. The application form is convoluted and complex, and unless you have…
Are NFT Collectible Card Games Legal in the United States?
NFT collectible card games are generally legal within the United States, provided that developers and players comply with several key laws. Specifically, these games implicate securities regulations, anti-gambling laws, and tax issues. NFT collectible card games are a natural Web 3.0 extension of over-the-board card games like Magic: The Gathering and have drawn a lot…
Are Play-to-Earn Video Games Legal in the United States?
Are play-to-earn games legal? The answer depends on the specifics of the game. For many gaming developers, play-to-earn is a lucrative business model in 2023 and beyond. These games let players compete against other players (PvP) or against the the game itself (PvE) to earn rewards that have real-world value. For example, players may pay…
What Are the Rules for Promoting Crypto or NFTs on Social Media?
If you are a crypto token or NFT promoter, you may inadvertently be advertising securities. If you are, you have obligations under the federal securities laws, and even if you are not, there are “best practices” to protect yourself. At a minimum, if you are promoting a security, you must disclose the paid promotion and…
Do Play-To-Earn Games Sell Unregistered Securities?
Play-to-earn game developers that sell in-game currency tokens or NFTs to their players may be inadvertently selling unregistered securities. Offering unregistered securities is illegal and the Securities and Exchange Commission (“SEC”) may prosecute developers and obtain injunctions, civil penalties, and orders to refund all investor funds (disgorgement). Further, the investors themselves can sue developers (including…