Fantasy Football: The Legal Reality

Sept. 16 (Bloomberg) -- If you're like us, you're already worrying about who you're going to start this Sunday on your fake football team. But if your league has an entry fee, you may well be engaged in an illegal activity. As long as you report your fantasy football winnings to the IRS, under the Unlawful Internet Gambling Act of 2006, you're probably fine with the feds. However, in many cases, state gaming laws are stricter. As Professor Marc Edelman explains in his Harvard law journal article, some states make fantasy football illegal if results are based, even in the smallest part, on chance. That's right chance, you know, like that time Dallas Cowboys running back DeMarco Murray suffered a season-ending fractured right ankle on a first-quarter carry, but don’t get us started. Arizona, Arkansas, Louisiana, Iowa, and Tennessee all follow this rule. (Source: Bloomberg)
Avago Sets Chip Industry High in $37B Broadcom Deal
01:17 - Avago Technologies has agreed to buy Broadcom Corp in a $37 billion deal which becomes the largest-ever purchase in the semiconductor industry. Bloomberg’s Jeff McCracken reports on “Bloomberg Surveillance.” (Source: Bloomberg)
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