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I have a site where people go to play fantasy sports contests that last just one day (not the whole season). They pay to play for a chance to win money and I get a percentage for providing service.
EX: 5-Person contest - Pay $5 for a chance to win $12.
Five people X $5 each = $25 - $12 cash prize.
The winner is the person who chose the players who score the most total fantasy points by the end of the night.
According to the 2006 Unlawful Internet Gambling Enforcement Act (UIGEA), fantasy sports is classified as a game of skill and therefore it is not gambling.
Fantasy sport - Wikipedia, the free encyclopedia
How much am I protected by this UIGEA?
What else should I be aware of?
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