Vulcun halts paid fantasy contests
Fantasy eSports operator blames current legal uncertainty for decision to pull real-money markets
Daily fantasy eSports operator Vulcun has confirmed it will no longer be offering real-money contests as a growing number of states investigate the legal foundations of the activity. [private]
In a post on its website, Vulcun said after âcareful considerationâ it had decided to phase out paid fantasy contests by January 14 with players given until February 5 to withdraw funds.
The operator will continue to offer fantasy eSports contests, but players will have to make wagers using its âgoldâ virtual currency.
âWeâre eSports fanatics first, and fantasy to us was a way of making eSports more engaging and fun,â the operator said in its post.
âThe current legal landscape in the US has made this difficult. Rather than trying to figure this situation out state by state, weâve decided to focus our energies on things that all our users can enjoy.
âWeâre sad to see paid fantasy go, but ultimately it allows us to focus on building a better product that serves our mission,â Vulcun added.
The operator started 2015 as a fantasy site for eSports, but over the past 12 months has added additional content and features such as âgoldâ betting and a marketplace.
Vulcun said the new product launches led to a shift in user engagement, with just 10% of its user base participating in paid fantasy in December.
âOur focus going forward is making Vulcun the premier place to win in-game virtual items.
âWeâve evolved into a community that enjoys watching eSports, going all-in on their favorite teams, and winning big on in-game items,â the firm added.
The news comes as daily fantasy sports operators FanDuel and DraftKings continue to go head to head with the New York attorney general who ruled the activity was illegal gambling late last year.
Other states such as Nevada and Illinois have also ruled the activity meets the definition of gambling, with calls for regulation coming from states such as California and Massachusetts.