New virtual currency model means no regulation required, says CEO
Social casino and casual games developer FlowPlay has launched a social sports offer titled All Star Daily Fantasy.
The game, punted as a new model, operates in virtual currency (which can be bought with real-money) but doesn't provide "real-world winnings" which in effect means the game isn't classified as gambling, Derrick Morton, chief executive officer of FlowPlay said in a Venture Beat report.
"We don't want to be regulated, and we make enough money where there is really no reason to be in the real-money gambling world," Morton said.
"FlowPlay is leveraging our experience in the casual games industry to introduce a completely new model that is sustainable and legal. Social sports wagering games are a viable alternative to the embattled daily fantasy industry and supply an appealing experience for millions of sports enthusiasts that have been largely alienated by current offerings."
Customers using the free-to-play game compile a fantasy sports team based on a salary cap. Points are awarded based on the sports team and individual performance. NBA fantasy sports will be first in the line-up with hockey, basketball and football, college and professional, in the pipeline.
"In the two decades since fantasy sports first made its way onto the Internet, progress has been steady — but with the dramatic rise and consumer demand for DFS drawing new attention to the industry over the last year, the market is more ripe for innovation than ever," said Mike Slade, a member of FlowPlay's board.
"That innovation will be through making DFS more widely accessible and attractive to casual sports fans and non-gamblers. I've enjoyed having a front row seat to witness FlowPlay's success in the social casino sector as a board member and investor. Their latest focus on leveraging an already proven approach to free-to-play casinos will translate well to fantasy sports and help bridge the gap to a much more mainstream audience."
Online Casino News Courtesy of Infopowa
