Renowned civil rights activist Rev. Al Sharpton has penned a letter to the Federal Trade Commission (FTC), expressing issues about what he describes as a “gambling duopoly” managed by DraftKings and FanDuel. In the letter addressed to FTC Chair Lina Khan, Sharpton raises alarms in regards to the potential disproportionate influence of this dominance on Black Americans, together with Black athletes.
Threats to competitors and shopper 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 Betting Alliance (SBA) additional consolidating its affect, the market share may very well be as excessive as 90%, posing important threats to competitors, equity, and shopper safety.
The civil rights advocate emphasizes the demographic profile of the person base of those platforms, noting a good portion of Black Americans amongst their customers. Sharpton expresses issues that the institution of a duopoly within the on-line sports activities betting market might disproportionately hurt Black Americans, who usually tend to have interaction in sports activities betting in comparison with different demographic teams.
Sharpton urges the FTC to intervene and examine the anti-competitive conduct of DraftKings, FanDuel, and their affiliated corporations to safeguard shopper pursuits, notably these of Black Americans. 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 shopper profit.
Multidimensional challenges within the playing trade:
The issues raised by Sharpton underscore the multidimensional challenges inherent within the playing trade. Beyond problems with competitors and shopper safety, he highlights the intersecting dynamics of race and sports activities betting, emphasizing the potential antagonistic results on Black athletes and customers if unchecked.
In conclusion, Sharpton’s letter serves as a name to motion for the FTC to handle 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 enjoying area that promotes innovation, worth, and shopper safety for all, particularly Black Americans.
Sharpton’s advocacy builds on a legacy of civil rights activism aimed 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 below the legislation.
As discussions surrounding on-line sports activities betting regulation proceed, Sharpton’s advocacy serves as an important 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.
