Dear FanDuel Fans,
Over the last few weeks, the fantasy sports industry has received quite a bit of attention. I wanted to take a moment to communicate directly with you, our players, to update you on what we are doing to ensure you can continue to enjoy FanDuel. And, most importantly, to thank you for your ongoing support and confidence in our company.
At FanDuel, we are proud to have transformed fantasy sports and are inspired every day as we watch our young business change the way fans watch and engage with their favorite sports. In the same way that Netflix transformed television and StubHub transformed the ticket marketplace, FanDuel is transforming how fans engage in their favorite sports.
Fantasy sports will continue to evolve, and we remain focused on being the leader in that evolution by constantly seeking to deliver new and better experiences for our players. We are incredibly excited for what the future holds.
We all know fantasy sports are often a bond shared by friends, family, coworkers and others, and as I write, our team is experimenting with a number of innovative social features to further community building and help the growing number of fantasy fans from around the country connect with one another. Some of these features also will simplify the ability to play against and challenge your friends on the site.
We recently re-launched FanDuel Insider, with a full editorial staff, providing premium content on fantasy expert advice and breaking news. Our acquisition of numberFire will add even more tools for you to research lineups and players, since we know from many of you that researching a lineup is often the most fun part of playing the game. In short, we are only at the outset of transforming what the fantasy sports experience can be.
In any disruptive fast-growing industry, important questions are often raised about how the industry should operate – fantasy sports is no different. Real questions have emerged. At FanDuel, we have always believed in taking a leadership role in protecting users and in how our industry operates.
It’s why I personally drafted the Fantasy Sports Trade Association’s original paid operator charter, which defines our industry’s principles for protecting the integrity of the game and the fantasy experience – from segregating player funds to ensuring compliance with existing state and federal law.
It’s why we asked former federal judge and United States Attorney General Michael Mukasey to evaluate our internal controls, standards and practices. He is conducting a review of all areas of our operation to identify ways we can further ensure we are protecting all players.
It’s why we are forming an advisory board led by former United States Attorney for the Southern District of New York Michael Garcia, to provide on-going advice, recommendations and guidance to guarantee the integrity of our site and games.
In short, we have always been committed to protecting our players and the industry as a whole, and we will continue to be.
That said, it has become apparent to me that our industry has grown to a size where a more formal, industry-wide 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.
The proposals include requirements for age and location verification, segregation of user funds, protection of user information, safeguards against use of proprietary contest information and requiring third-party audits. These are steps I have always advocated for – and now is the time to memorialize them in law for FanDuel and the entire industry.
We hope to work with legislative leaders in each state to ensure you, our fans, maintain access to the fun and excitement you have come to love at FanDuel. The commissioners at the top professional sports leagues including the NFL, the NBA and MLB share support for sensible regulation of fantasy sports that protects consumers, without sacrificing their enjoyment of the game.
We know this is an important issue for many of you, evidenced by the overwhelming outpouring of support in recent weeks. In the past two weeks more than 145,000 of you signed our petition seeking to protect your right to play fantasy sports. We believe smart regulations should be in place, but some lawmakers are seeking to prohibit your right to play fantasy sports as you know it. We need to remind officials how deep and wide the support for fantasy sports is across the country. If you have not already, please sign our petition here.
Thank you again for your continued support of FanDuel and fantasy sports.