Atlantis Gaming announces they are planning to launch a betting and DFS platform online that will be the first federally-approved option of its kind in the United States.
Online gambling is a hot topic of debate in the United States as of the past few years. Since the Department of Justice decided to change the Wire Act of 1961, states have had the opportunity to create legislation to legalize and regulate online gambling, be it casino or poker, if they so choose. So far only three states have decided to get involved, but other states are slowly working on their own legislation. To be able to offer online gaming, operators and those invested in the gambling industry must become involved. Just recently it was announced that Atlantis Gaming, an online gaming company based in Las Vegas, is getting ready to launch a new platform featuring daily fantasy sports and betting that will be the first of its kind to gain federal approval.
What’s The Deal?
By early 2017, Atlantis Gaming plans on launching the first initial public offering of a legal daily fantasy sports company in the United States. The company reportedly has already gained approval from two federal agencies in regards to refinements for online gaming. Donald Bailey is the CEO and Founder of the company who stated that Atlantis Gaming offers a federally approved and completely legal internet gaming and DFS platform.
The company is currently the only legal internet platform for daily fantasy sports as well as casino games and online poker. Bailey pointed out that funding groups and professional sports organizations such as the MLB and NBA are invested in the daily fantasy sports industry as it is an extremely lucrative market. However, due to the turmoil of FanDuel and DraftKings, ESPN pulled out of the industry and these two companies remain private.
Federal approval from the AGC allows Atlantis Gaming to operate their services in 28 states as well as on an international level. The company operates via an approved networking platform that is capable of providing games from several manufacturers who have not been able to earn federal approval to operate their own gaming platforms.
A First for the US
Bailey stated that the company’s platform is truly the first legal multi-vendor platform for the DFS industry. The company has been able to enter into an exclusive license agreement with the Atlantis Internet Group Corp, which is a publicly traded over the counter market company that Bailey says he guided through the federal approval process.
The company also has the opportunity to offer gaming vendors of online content as well as daily fantasy sports companies a legal gaming network in other areas including sports bars, social media and tribal gaming venues. Because the company works with the Tribal Gaming Network, tribal casinos can operate on this network and accept international wagers from legal gaming jurisdictions. This is an option due to the sovereign status of Indian tribes which is a first for the US as well.
Atlantis Gaming will not be ready to operate until 2017 so the company still has time before the network will be launching. It will be interesting to see what all the company provides as a network host for daily fantasy sports as well as online wagering.
This is just one of many companies who are becoming involved with the DFS industry as well as online gaming as a whole. The landscape continues to change in the United States in regards to online gambling and 2017 should shape up to be a unique year as many states look to pass legislation concerning DFS, casino and poker gaming, both online and in land-based form.