Vig & Juice

Vig & Juice is a podcast discussing the history and legality of gambling and sports betting in the U.S. hosted by Sports & Gaming Law attorneys at Vela Wood. In this episode of Vig & Juice, we break down season 5, episode 3 of Against the Rules with Michael Lewis, which explores how fantasy sports moved from a legal gray area to a state-sanctioned industry. We examine the pivotal role of attorney Jeremy Kudon in crafting legislation that legitimized fantasy sports, the strategic targeting of states like Kansas, and what this means for the next wave of fantasy sports operators navigating today’s increasingly complex legal landscape. You can subscribe to Vela Wood’s Fantasy Sports & Gaming Newsletter here [https://velawood.us3.list-manage.com/subscribe?u=2477f8c0e9a8595271687f9ed&id=53243f4228]. TIME STAMPS * :42 – Jeremy Kudon’s Legal Strategy in Kansas * 2:13 – Fantasy Sports Regulatory Frameworks Across States * 6:43 –  The Rise and Fall of State Fantasy Sports Regulation * 10:45 – Advice for New Fantasy Contest Operators * 12:20 – Effects of Inconsistencies within Legislative Drafting REFERENCES * Against the Rules Season 5, Episode 3: Welcome to the Garden State [https://podcasts.apple.com/us/podcast/episode-3-welcome-to-the-garden-state/id1455379351?i=1000671803297] * Fantasy Sports Gaming Association [https://thefsga.org/] * Kansas – Sports Wagering Regulations Article 112 [https://www.krgc.ks.gov/index.php/racing-gaming-law/regulations/sports-wagering-regulations] * Jeremy Kudon [https://www.orrick.com/en/People/E/1/8/Jeremy-Kudon] RELATED CONTENT * Sports Betting & Fantasy Sports Regulation Map [https://velawood.com/sports-betting-fantasy-sports-regulation-may-2025/] * Fantasy Sports Legislation Tracker [https://velawood.com/tracker/fantasy-sports-legislation-tracker/] * Sports Betting Tracker  [https://velawood.com/tracker/sports-betting-tracker/] * Vig & Juice Ep.5: PASPA [https://velawood.com/vw_podcast/vig-juice-ep-5-paspa/] * Vig & Juice Ep.8: Regulation Updates in Texas and Nationwide (UIGEA)  [https://velawood.com/vw_podcast/vig-juice-ep-8-regulation-updates-in-texas-and-nationwide/] * The Repeal of PASPA [https://velawood.com/the-repeal-of-paspa/] * Texas Gaming Update: 2024 Year-End Review [https://mailchi.mp/cc79528b58f0/texas-gaming-update-2024-year-end-review]

Vig & Juice is a podcast discussing the history and legality of gambling and sports betting in the U.S. hosted by Sports & Gaming Law attorneys at Vela Wood. In this episode of Vig & Juice, we begin with an overview of the current sports betting landscape and then introduce a new miniseries we’re launching to discuss season 4 of Against the Rules with Michael Lewis, which covers sports betting. In this episode we discuss legal topics related to episodes 1 and 2 of Against the Rules, including the Professional and Amateur Sports Protection Act of 1992 (“PASPA”), which was passed with the intention of protecting the purity of sports. You can subscribe to Vela Wood’s Fantasy Sports & Gaming Updates here [https://velawood.us3.list-manage.com/subscribe?u=2477f8c0e9a8595271687f9ed&id=53243f4228]. TIME STAMPS * :18 – Sports Betting Landscape Overview * 4:05 – Texas Sports Landscape * 5:45 – DFS Regulation Slowdown * 9:21 – Intro to Against the Rules Series * 13:30 – PASPA: Protecting the Sanctity of Sports * 17:40 – Sports as a Business * 19:55 – Responsible Gaming REFERENCES * Texas House Joint Resolution 134 [https://www.texaspolicyresearch.com/sports-betting-legislation-filed-in-texas-house/] * Fantasy Sports Gaming Association [https://thefsga.org/] * Against the Rules Season Four, Episode 1: What’s Wrong with Eric? [https://www.pushkin.fm/podcasts/against-the-rules/episode-1-whats-wrong-with-eric] * Against the Rules Season Four, Episode 2: Values of the Game [https://www.pushkin.fm/podcasts/against-the-rules/episode-2-values-of-the-game] * 47.2 Texas Penal Code  [https://codes.findlaw.com/tx/penal-code/penal-sect-47-02/] RELATED CONTENT * Texas Gaming Update: 2024 Year-End Review [https://mailchi.mp/cc79528b58f0/texas-gaming-update-2024-year-end-review] * Sports Betting Tracker [https://velawood.com/tracker/sports-betting-tracker/] * Vig & Juice Ep.5: PASPA [https://velawood.com/vw_podcast/vig-juice-ep-5-paspa/] * The Repeal of PASPA [https://velawood.com/the-repeal-of-paspa/]

Vig & Juice is a podcast discussing the history and legality of gambling and sports betting in the U.S. hosted by Sports & Gaming Law attorneys at Vela Wood. In this special episode, VW attorneys Blake Hart, Kevin Vela, and Rad Wood unpack the rules and exemptions that govern the popular tradition of March Madness bracket pools. We want to give you a heads-up that the sound quality in this episode isn’t quite up to our usual standards due to some technical difficulties. However, we know the conversation is timely, so we’re sharing it as is. Thanks for your patience and we promise clearer audio in future episodes! TIME STAMPS * 2:10 – Office Pool Phenomenon * 2:50 – Private Place, Legal Space? * 5:36 – How Much Skill is Involved? * 7:31 – Private Place Betting: Legal Here, Risky There * 13:11 – Raking in Money? Texas Statute Keeps the Pot Dry * 16:23 – ESPN Bracket: Legal by Design REFERENCES * Who invented the March Madness bracket? New York bar and Kentucky postal worker stake claims [https://apnews.com/article/march-madness-bracket-1db128b70fb2f5422e6856b53c3989a3?utm_source=copy&utm_medium=share] * Unlawful Internet Gambling Enforcement Act of 2006 [https://ncua.gov/regulation-supervision/letters-credit-unions-other-guidance/unlawful-internet-gambling-enforcement-act-2006] * Gambling in Texas [https://guides.sll.texas.gov/gambling] * A Guide To Understanding The Wire Act [https://www.playusa.com/online-casinos/wire-act/] * Westgate Las Vegas SuperContest [https://www.westgateresorts.com/hotels/nevada/las-vegas/westgate-las-vegas-resort-casino/casino/supercontest/] * The absurd odds of a perfect NCAA bracket [https://www.ncaa.com/news/basketball-men/bracketiq/2023-03-16/perfect-ncaa-bracket-absurd-odds-march-madness-dream] RELATED CONTENT * Vig & Juice Ep.1: Three Elements of Gambling [https://velawood.com/vw_podcast/vig-juice-ep-1/] * Vig & Juice Ep.3: The Wire Act [https://velawood.com/vw_podcast/vig-juice-ep-3-the-wire-act/] * Vig & Juice Ep.5: PASPA [https://velawood.com/vw_podcast/vig-juice-ep-5-paspa/] * Sports Betting Legislation Tracker [https://velawood.com/tracker/sports-betting/] * The Repeal of PASPA [https://velawood.com/the-repeal-of-paspa/] This information is for general informational purposes only and should not be construed as legal advice.

Vig & Juice is a podcast discussing the history and legality of gambling and sports betting in the U.S. hosted by Sports & Gaming Law attorneys at Vela Wood. In this episode, we go over our recent Quarterly Texas Gaming Update Newsletter [https://mailchi.mp/6849e9833871/quarterly-texas-gaming-update] and discuss fantasy sports and sports wagering regulation updates in Texas and nationwide. You can subscribe to Vela Wood’s Fantasy Sports & Gaming Updates here [https://velawood.us3.list-manage.com/subscribe?u=2477f8c0e9a8595271687f9ed&id=53243f4228]. Regarding our discussion starting at 8:35, here are the statistics we said we would provide for the crossover of states. There are currently only twelve states that have not yet legalized sports wagering. Eight of those twelve do not regulate fantasy sports either, but fantasy contests are offered without issue in the absence of state regulation. The status of fantasy sports in the four remaining states is informative as well, so we have included it below. * States Where Fantasy Sports Contests Are Currently Offered Without Regulation But Sports Wagering Is Not: Alaska, California, Georgia, Minnesota, Oklahoma, South Carolina, Texas, and Utah * States Where Fantasy Sports Contests Are Regulated And Offered But Sports Wagering is Not: Alabama and Missouri * States Where Fantasy Sports And Sports Wagering Are Both Currently Prohibited: Hawaii and Idaho TIME STAMPS * 0:51 – Nationwide Trends for Fantasy Sports Laws & Sports Wagering Laws * 3:03 – Fantasy Sports Regulation History & Unlawful Internet Gambling Enforcement Act (UIGEA) * 8:35 –  Unregulated Jurisdictions * 11:58 – 2023 Texas Regulation Updates * 14:09 – Pressures Around Texas Regulation * 17:06 – Prosecution of Operators * 21:50 – Circumstances of Texas Legislation & Predictions REFERENCES * Quarterly Texas Gaming Update Newsletter [https://mailchi.mp/6849e9833871/quarterly-texas-gaming-update] * Legal Sports Report [https://www.legalsportsreport.com/] * Professional and Amateur Sports Protection Act of 1992 [https://www.congress.gov/bill/102nd-congress/senate-bill/474] * Unlawful Internet Gambling Enforcement Act of 2006 [https://www.fdic.gov/news/financial-institution-letters/2010/fil10035a.pdf] * Texas Attor­ney Gen­er­al Pax­ton 2016 Opin­ion on Dai­ly Paid ‘Fan­ta­sy Sports’ Site [https://www.oag.state.tx.us/sites/default/files/opinion-files/opinion/2016/kp0057.pdf] * Texas House Bill 4703 [https://capitol.texas.gov/tlodocs/88R/billtext/pdf/HB04703I.pdf] RELATED CONTENT * Fantasy Sports and Sports Betting Deals [https://velawood.com/fantasy-sports-and-sports-betting-deals/] * Five Things to Consider Before Starting Your DFS Company [https://velawood.com/five-things-to-consider-before-starting-your-dfs-company/] * The Repeal of PASPA [https://velawood.com/the-repeal-of-paspa/]

Vig & Juice is a podcast discussing the history and legality of gambling and sports betting in the U.S. hosted by Sports & Gaming Law attorneys at Vela Wood. In this episode, we discuss shifts in the Daily Fantasy Sports (DFS) landscape, including DFS leaders moving into sports betting, how regulators are approaching non-traditional fantasy games, and our predictions for the political battles that lie ahead. TIME STAMPS * 0:45 – Recent Daily Fantasy Sports (DFS) Shifts * 3:35 – DFS Movement Leaders Moving into Sports Betting, Against Fantasy * 5:35 – Shifting Legal Landscape of DFS * 6:45 – Sports Wagering Laws Mentioning Fantasy * 7:40 – Educating Regulators About Creative Games * 8:10 – Understanding Skill: Single-Player v. Two-Player * 12:28 – State Regulation Status Updates * 13:22 – State Fantasy Governing Authority * 15:35 – New York Regulation History * 18:30 – Dominant Factor Test v. Material Element Test * 20:30 – Final Predictions REFERENCES * Top Sports Betting Stocks for Q4 2022 [https://www.investopedia.com/top-sports-betting-stocks-5216133] * What Is The Dominant Factor Test? [https://vagamingcompliance.com/index.php/faqs/52-12-what-is-the-dominant-factor-test] RELATED CONTENT * Sports Betting Legislation Tracker [https://velawood.com/tracker/sports-betting/] * Fantasy Sports Contest Legislation Tracker [https://velawood.com/tracker/fantasy-sports-legislation-tracker/]