Does anyone know the answer to this? It seems to be quite a gray area, even among lawyers. Basically, I would love to build a platform where people can bet on specific players (using real money) or such using fantasy statistics. I am just not sure if it is legal or not.
I don't think you're allowed to let people place <i>bets</i> per se, but you can let them buy into a tournament for real money. There are several sites that have this sort of thing such as <a href="http://draftday.com" rel="nofollow">http://draftday.com</a>.