*By Alisha Haridasani* The Supreme Court decision to effectively lift the ban on sports betting in most of the country will create a vast, competitive market for online bookmakers, said Jason Robins, the CEO and co-founder of the fantasy sports site DraftKings. Soon after the Justices announced their 6-3 ruling Monday, DraftKings [said](http://about.draftkings.com/2018/05/14/draftkings-moves-to-offer-sports-betting-after-u-s-supreme-court-overturns-outdated-ban/) it was already “working with state regulatory officials to apply for operating licenses,” a process it preemptively started last year. "I think that this is going to significantly increase the amount of competitors out there for us," said Robins in an interview with Cheddar after the ruling. And likely the amount of money wagered, too. The Court ruled in favor of a case brought by New Jersey that would allow the expansion of legal sports gambling beyond some jurisdictions in Nevada. Illegal sports gambling accounts for between $60 billion to $150 billion, according to some [estimates](https://www.bloomberg.com/news/articles/2018-03-05/how-u-s-sports-betting-is-rampant-and-mostly-illegal-quicktake). Bringing that illegal activity out from under a cloud creates opportunities for legal companies like DraftKings and its rival, FanDuel, to garner some of that business. "The rules around what you can do are about to expand in a great way," said Robins. DraftKings and FanDuel are the two largest fantasy sports sites in the world, but that market domination may soon "look like nothing compared to how competitive sports betting will be," Robins said. Both fantasy sites have come under fire for allegedly dipping into the illegal betting scene. Three years ago, more than [a dozen states](https://www.wsj.com/articles/fantasy-sports-industry-mounts-lobbying-blitz-1455585446) challenged the legal status of fantasy sport sites, arguing that while the teams on these fantasy sites are imagined, performance is based on the real outcomes of sporting leagues. But since then, the two sites worked with legislators in those states to create a regulatory framework around fantasy sports. DraftKings plans to use those relationships with lawmakers to push into sports betting. "A lot more is going to happen now a lot faster that the doors are open," Robins said. For the full interview, [click here](https://cheddar.com/videos/draftkings-to-get-in-on-sports-gambling).

Share:
More In Business
Disney content has gone dark on YouTube TV: What you need to know
Disney content has gone dark on YouTube TV, leaving subscribers of the Google-owned live streaming platform without access to major networks like ESPN and ABC. That’s because the companies have failed to reach a new licensing deal to keep Disney channels on YouTube TV. Depending on how long it lasts, the dispute could particularly impact coverage of U.S. college football matchups over the weekend — on top of other news and entertainment disruptions that have already arrived. In the meantime, YouTube TV subscribers who want to watch Disney channels could have little choice other than turning to the company’s own platforms, which come with their own price tags.
Universal Music and AI song generator Udio partner on new AI platform
Universal Music Group and AI platform Udio have settled a copyright lawsuit and will collaborate on a new music creation and streaming platform. The companies announced on Wednesday that they reached a compensatory legal settlement and new licensing agreements. These agreements aim to provide more revenue opportunities for Universal's artists and songwriters. The rise of AI song generation tools like Udio has disrupted the music streaming industry, leading to accusations from record labels. This deal marks the first since Universal and others sued Udio and Suno last year. Financial terms of the settlement weren't disclosed.
Load More