Resorts Atlantic City becomes the first casino in New Jersey to offer a daily fantasy sports product.
Resorts Atlantic City has become the first casino in New Jersey to go live with a daily fantasy sports product. It’s called FastPick and while there are similarities to DFS, it has a unique take on the popular game. Resorts AC says that Fastpick is “daily fantasy sports without the sharks.”
— FastPick (@FastPickSports) July 18, 2017
Available to players in New Jersey, FastPick melds the world of daily fantasy sports with sports betting. Unlike DraftKings and FanDuel, FastPick’s version of DFS is not played against other players, but instead is played against the casino – in this case, Resorts AC.
Participants who take part in the game must select from player matchups of whom they believe will generate more points between the two players. The participant must select between 3 to 10 different matchups to play the game. To win a Fast Pick contest, all selections must win — similar to a parlay. Participants can bet anywhere from $10 to $200 and win up to $100,000. The more matchups that a participant adds to selections, the higher the winnings will be.
FastPick is currently only available for MLB but has plans to offer NFL, NBA, NHL and soccer games when in season. Only currently available online, FastPick hopes to offer the games through kiosks on the casino floor.
Daily Fantasy Sports in New Jersey
DraftKings and FanDuel are currently available to players New Jersey as the state has given an opinion that DFS is lawful. Despite this, a new fantasy sports bill awaits the signature of New Jersey governor Chris Christie.
FastPick will be in compliance with that law once the bill had been is signed. New Jersey gambling regulators had previously said that daily fantasy sports was lawful under current state law. Under the new legislation, licensed companies would have to pay a 10.5% tax on gross revenue from fees generated by New Jersey players. The Division of Consumer Affairs in the Department of Law in Public Safety would be in charge of overseeing the industry.
The daily fantasy bill was passed by New Jersey by the House and Senate fairly easily. New Jersey is also hoping to legalize sports betting through an appeal that is headed to the U.S. Supreme Court, which is expected to take up the case later this year. All of this could come together and make Resort’s new daily fantasy product meld seamlessly into sports betting. We shall see.