Famend civil rights activist Rev. Al Sharpton has penned a letter to the Federal Commerce Fee (FTC), expressing considerations about what he describes as a “playing duopoly” managed by DraftKings and FanDuel. Within the letter addressed to FTC Chair Lina Khan, Sharpton raises alarms concerning the potential disproportionate affect of this dominance on Black People, together with Black athletes.
Threats to competitors and client safety:
Sharpton’s letter, obtained by USA TODAY, highlights the alarming market share held by DraftKings and FanDuel within the on-line sports activities betting trade. He underscores the mixed dominance of those platforms, which management roughly 75% of the cellular sports activities betting market as of September 2023. With the Sports activities Betting Alliance (SBA) additional consolidating its affect, the market share could possibly be as excessive as 90%, posing important threats to competitors, equity, and client safety.
The civil rights advocate emphasizes the demographic profile of the consumer base of those platforms, noting a good portion of Black People amongst their shoppers. Sharpton expresses considerations that the institution of a duopoly within the on-line sports activities betting market might disproportionately hurt Black People, who usually tend to interact in sports activities betting in comparison with different demographic teams.
Sharpton urges the FTC to intervene and examine the anti-competitive habits of DraftKings, FanDuel, and their affiliated corporations to safeguard client pursuits, significantly these of Black People. He references previous FTC actions, together with efforts to dam the merger of DraftKings and FanDuel in 2017, emphasizing the significance of preserving aggressive markets for client profit.
Multidimensional challenges within the playing trade:
The considerations raised by Sharpton underscore the multidimensional challenges inherent within the playing trade. Past problems with competitors and client safety, he highlights the intersecting dynamics of race and sports activities betting, emphasizing the potential hostile results on Black athletes and shoppers if unchecked.
In conclusion, Sharpton’s letter serves as a name to motion for the FTC to deal with the rising dominance of DraftKings and FanDuel within the on-line sports activities betting market. By investigating potential anti-competitive practices, the FTC can guarantee a stage taking part in subject that promotes innovation, worth, and client safety for all, particularly Black People.
Sharpton’s advocacy builds on a legacy of civil rights activism geared toward combating systemic inequities. By addressing problems with financial and social justice within the context of the playing trade, he continues to champion the rights of marginalized communities and advocate for honest therapy beneath the regulation.
As discussions surrounding on-line sports activities betting regulation proceed, Sharpton’s advocacy serves as a vital reminder of the significance of fairness and equity in shaping regulatory frameworks. By centering the voices of marginalized communities and advocating for his or her pursuits, policymakers can work towards a extra equitable and inclusive future for all stakeholders within the playing trade.
