Indian rummy website Ace2Three is planning to invest INR10 million ($155,195.50) in real-money fantasy sports portal Fan Fight, which is launching soon.

On Friday, GLaws.in reported that Head Infotech Pvt. Ltd. founder and CEO Deepak Gullapalli has paid INR2.5 million ($38,798.87) for 2,500,000 Series A preference shares in the Gurgaon-based fantasy sports company last April 27. Head Infotech is the company that operates Ace2Three.

According to the report, which quoted a Registrar of Companies (ROC) filing, Gullapalli made the investment with the approval of Head Infotech and its new majority shareholders, the Clairvest Group. If you recall, the Canadian private equity fund and its foreign partners acquired a majority stake in Head Infotech for more than $70 million in May.

Head Infotech plans to invest a total of INR10 million for a total stake of 10 percent in WCFN Solutions Pvt. Ltd., which operate Fan Fight, GLaws.in’s Jay Sayta reported, noting that the company “will be sharing its expertise and knowledge of the online skill games industry to Fan Fight.”

The battle for the legalization of daily fantasy sports (DFS) in the states of New Jersey and Alabama within the past week has resulted to a mixed bag.

Over in New Jersey, majority of Assembly members has voted in favor of a legislation that will regulate DFS and impose a quarterly fee of 10.5 percent of gross revenues on fantasy sports providers.

According to the Associated Press, the Democrat-led New Jersey Assembly voted 56-15 in favor of A3532. Three members, however, abstained from the vote.

The legislation, sponsored by Assembly members Vincent Mazzeo, Ralph Caputo, John Burzichelli, and Paul Moriarty and co-sponsored by Thomas Giblin, is somehow similar to the bill that have either been filed or passed in several other states.

The Alabama House has spoken: fantasy sports is a battle of wits and smarts.

Birmingham Business Journal reported that the Alabama House of Representatives has approved a bill that will legalize and regulate fantasy sports betting in the state in a close vote.

Voting 43-38, the House declared that Fantasy Sports is not a dolled-up digital gambling that deserves to be banned. Instead, they recognizes that fantasy sport is a game of skills deserved to be played in the state.

There are at least three bills that have been introduced in Alabama including HB354 or Fantasy Sports Act.

The Alabama House has spoken: fantasy sports is a battle of wits and smarts.

Birmingham Business Journal reported that the Alabama House of Representatives has approved a bill that will legalize and regulate fantasy sports betting in the state in a close vote.

Voting 43-38, the House declared that Fantasy Sports is not a dolled-up digital gambling that deserves to be banned. Instead, they recognizes that fantasy sport is a game of skills deserved to be played in the state.

There are at least three bills that have been introduced in Alabama including HB354 or Fantasy Sports Act.

Florida is taking a second shot at passing a bill to exempt fantasy sport in the Sunshine State after a similar measure met its demise in a late legislative session meltdown last year.

Tallahassee Democrat reported that State Rep. Jason Brodeur, a Sanford Republican, filed a measure on Wednesday seeking to clarify that fantasy sports games are not considered gambling under Florida laws.

Brodeur’s HB 149 aims to exempt “fantasy contests” from regulation by the Department of Business and Professional Regulation, which oversees gambling in the state. The measure, which specifically includes games based on “athletes in the case of sports events,” comes amid questions on whether fantasy-sports contests are a form of gambling.

“The question was never answered,” he said. “The millions of Floridians who play fantasy games deserve to know that what they’re doing is not a crime.”

Ohio is now pushing for the regulation of fantasy sports in the Buckeye State, the newest state to join the consideration of the multi-million industry.

ABC6 reported that Ohio Senator Bill Coley introduced a bill on Monday that will categorize daily fantasy sports (DFS) a “scheme of chance.”

The bill will put fantasy sports sites under the authority of the Ohio Casino Control Commission, tasking the state regulator to make rules and enforce them throughout the state.

But unlike other proposed DFS laws in the U.S., Coley’s SB 356 is stricter since the legislation would make illegal any contest that does not return 100 percent of entry fees to players in a contest.

Ohio is now pushing for the regulation of fantasy sports in the Buckeye State, the newest state to join the consideration of the multi-million industry.

ABC6 reported that Ohio Senator Bill Coley introduced a bill on Monday that will categorize daily fantasy sports (DFS) a “scheme of chance.”

The bill will put fantasy sports sites under the authority of the Ohio Casino Control Commission, tasking the state regulator to make rules and enforce them throughout the state.

But unlike other proposed DFS laws in the U.S., Coley’s SB 356 is stricter since the legislation would make illegal any contest that does not return 100 percent of entry fees to players in a contest.

Ready or not, blockchain is coming to fantasy sports.

Canadian blockchain solutions provider BTL Group has teamed up with games developer Fantasy 6 Sports to develop a suite of blockchain services targeting fantasy sports companies.

The companies plan to develop a proprietary platform called SecurePlay, which they said will address the need for “trust and transparency” in the fantasy sports space.

“[SecurePlay] will be the first of its kind to leverage blockchain technology and smart contracts in ways which will transform how games, contests and transactions are conducted and carried out in the fantasy sports industry,” the companies said in a statement.

Tabcorp’s earnings are under threat since UK bookmaker giants joined the market, but Morgan Stanley might have a solution for that.

Morgan Stanley has cut Tabcorp’s earnings forecast due increasing pressure from foreign-backed online bookmakers such as Paddy Power, William Hill, Bet 365 and Ladbrokes.

The investment bank estimates that the Australian wagering operator’s share of online wagering turnover to fall 23% in 2018, down from 30% in 2010. It also expects earnings per share of 23¢, 26¢ and 28¢ in the 2016-18 financial years respectively compared with 24¢, 27¢ and 30¢ previously.

However, Morgan Stanley thinks that Tabcorp is in a best position to slow the market share loss by venturing into the growing market of fantasy sports.

Tabcorp’s earnings are under threat since UK bookmaker giants joined the market, but Morgan Stanley might have a solution for that.

Morgan Stanley has cut Tabcorp’s earnings forecast due increasing pressure from foreign-backed online bookmakers such as Paddy Power, William Hill, Bet 365 and Ladbrokes.

The investment bank estimates that the Australian wagering operator’s share of online wagering turnover to fall 23% in 2018, down from 30% in 2010. It also expects earnings per share of 23¢, 26¢ and 28¢ in the 2016-18 financial years respectively compared with 24¢, 27¢ and 30¢ previously.

However, Morgan Stanley thinks that Tabcorp is in a best position to slow the market share loss by venturing into the growing market of fantasy sports.

Wisconsin and Illinois joined the mounting list of states that have given fantasy sports special attention, whether it’s for the better or worst.

The Wisconsin law doesn’t address the legality of fantasy sports although it bans most forms of gambling except from tribal casinos and the state’s lottery, bingo halls and raffles. Meaning fantasy sports is neither legal nor illegal.

Wisconsin AG Brad Schimel has yet to join the band of US states’ attorneys general who scrutinized fantasy sports in state level and according to Schimel’s spokesperson, the AG office has not received any complaints about DFS sites Draft Kings and FanDuel.

Now, Rep. Tyler Vorpagel wants to protect fantasy sports from future uncertainties in Wisconsin, which is why he is drafting a bill that will legalize it.

Wisconsin and Illinois joined the mounting list of states that have given fantasy sports special attention, whether it’s for the better or worst.

The Wisconsin law doesn’t address the legality of fantasy sports although it bans most forms of gambling except from tribal casinos and the state’s lottery, bingo halls and raffles. Meaning fantasy sports is neither legal nor illegal.

Wisconsin AG Brad Schimel has yet to join the band of US states’ attorneys general who scrutinized fantasy sports in state level and according to Schimel’s spokesperson, the AG office has not received any complaints about DFS sites Draft Kings and FanDuel.

Now, Rep. Tyler Vorpagel wants to protect fantasy sports from future uncertainties in Wisconsin, which is why he is drafting a bill that will legalize it.

Some of the biggest media companies in Australia are reportedly looking into investing in fantasy sports.

The Australian reported that TopBetta, a fantasy sports and wagering platform operator, had “early stage talks” with several traditional media companies about potential partnerships, with products to be launched as early as next year.

Sources familiar with the matter told the news agency that the interested media groups include Seven West Media and News Corp, publisher of The Australian. Crown Resorts’ Crown Bet is also considering investing in the fantasy wagering sector, according to the report.

If a partnership pushes through, TopBetta, chaired by former Seven COO Nick Chan, will provide a platform and gambling license to the table, while the media companies will bring in the audience and marketing muscle.

Some of the biggest media companies in Australia are reportedly looking into investing in fantasy sports.

The Australian reported that TopBetta, a fantasy sports and wagering platform operator, had “early stage talks” with several traditional media companies about potential partnerships, with products to be launched as early as next year.

Sources familiar with the matter told the news agency that the interested media groups include Seven West Media and News Corp, publisher of The Australian. Crown Resorts’ Crown Bet is also considering investing in the fantasy wagering sector, according to the report.

If a partnership pushes through, TopBetta, chaired by former Seven COO Nick Chan, will provide a platform and gambling license to the table, while the media companies will bring in the audience and marketing muscle.

Have you heard of a fantasy sports game that doesn’t want your money but would like to give you some?

Canadian digital sports media company theScore has launched a new fantasy sports app, QuickDraft, which offers daily contests with real cash prizes but zero entry fees.

Meaning, this free-to-play game could survive the legal scrutiny that the fantasy sports is facing in Canada and the U.S. because players will not put their own money at risk even cash prizes are offered.

QuickDraft, a mobile-first game, allows users to draft line-ups of five athletes and compete for cash prizes of $100 to $1,000 for the daily winners. The app will first focus on NFL games with other major leagues coming soon. Entries are also limited to one per contest and the use of scripts (computer algorithms that allow participants to automate line-up edits) is prohibited.