Buzzy has always been a fan of Eric Sinrod, who has been looking at legal issues surrounding Intellectual Property -- especially in cyberspace for over a decade. In this column, Sinrod takes a look at N.J. lawsuit that accused organizations operating fantasy leagues of running gambling operations. Here's the money quote:

More importantly, the judge recognized that it would be absurd to conclude that the combination of an entry fee and a prize constitutes gambling. Indeed, if that were the case, spelling bees, beauty contests, golf tournaments and the like also would have to be gambling. When an entry fee is paid unconditionally and the prize is for an amount certain and is guaranteed to be won by a participant, a contest does not morph into gambling under the law.
Sinrod also notes the UIGEA carve out for fantasy sports.