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Fan Duel, Draft Kings Declared Illegal Online Gambling in New York
Last edited Tue Nov 10, 2015, 07:57 PM - Edit history (1)
WABC.com: New York attorney general Eric Schneiderman...said in a statement..."
E)ach DraftKings/FanDuel wager represents a wager on a 'contest of chance' where winning or losing depends on numerous elements of chance to a 'material degree'"...Using that criteria...the customers of the two largest daily fantasy sites, which have said they would award more than $3 billion combined in prizes in 2015, "are clearly placing bets on events outside their control of influence, specifically on the real game performance of professional athletes...
"Our investigation has found that, unlike traditional fantasy sports, daily fantasy sports companies are engaged in illegal gambling under New York law, causing the same kinds of social and economic harms as other forms of illegal gambling, and misleading New York consumers...Daily fantasy sports is neither victimless nor harmless, and it is clear that DraftKings and FanDuel are the leaders of a massive, multi-billion-dollar scheme intended to evade the law and fleece sports fans across the country. Today we have sent a clear message: not in New York, and not on my watch."
FanDuel said in a statement: "...(A)fter the Attorney General realized he could now get himself some press coverage, he decided a game that has been around for a long, long time is suddenly now not legal." DraftKings has not responded to ESPN's request for comment...(T)he Fantasy Sports Trade Association (FSTA), which represents the interests of sites like DraftKings and FanDuel, hired former acting Secretary of Labor Seth D. Harris to help guide a program of self-regulation...(E)xecutives for both daily fantasy giants quickly acknowledged they would be willing to accept outside regulation...
Over the past month, 34 lawsuits have been filed in 13 states, alleging that the games are either unfair, illegal or both...In October, the Nevada Gaming Control Board and the state's attorney general ruled that daily fantasy meets the definition of sports gambling and requires a license to operate within the state. Both companies immediately stopped doing business in Nevada...A representative in Illinois last month put forth the first daily fantasy regulation bill, and officials from New Jersey and Pennsylvania each held hearings on daily fantasy sports this week. A federal grand jury has convened in Florida, according to multiple legal sources. Arizona, Iowa, Louisiana, Montana and Washington prohibit fantasy sports for money. Several additional states do not allow some forms of daily fantasy.
E)ach DraftKings/FanDuel wager represents a wager on a 'contest of chance' where winning or losing depends on numerous elements of chance to a 'material degree'"...Using that criteria...the customers of the two largest daily fantasy sites, which have said they would award more than $3 billion combined in prizes in 2015, "are clearly placing bets on events outside their control of influence, specifically on the real game performance of professional athletes...
"Our investigation has found that, unlike traditional fantasy sports, daily fantasy sports companies are engaged in illegal gambling under New York law, causing the same kinds of social and economic harms as other forms of illegal gambling, and misleading New York consumers...Daily fantasy sports is neither victimless nor harmless, and it is clear that DraftKings and FanDuel are the leaders of a massive, multi-billion-dollar scheme intended to evade the law and fleece sports fans across the country. Today we have sent a clear message: not in New York, and not on my watch."
FanDuel said in a statement: "...(A)fter the Attorney General realized he could now get himself some press coverage, he decided a game that has been around for a long, long time is suddenly now not legal." DraftKings has not responded to ESPN's request for comment...(T)he Fantasy Sports Trade Association (FSTA), which represents the interests of sites like DraftKings and FanDuel, hired former acting Secretary of Labor Seth D. Harris to help guide a program of self-regulation...(E)xecutives for both daily fantasy giants quickly acknowledged they would be willing to accept outside regulation...
Over the past month, 34 lawsuits have been filed in 13 states, alleging that the games are either unfair, illegal or both...In October, the Nevada Gaming Control Board and the state's attorney general ruled that daily fantasy meets the definition of sports gambling and requires a license to operate within the state. Both companies immediately stopped doing business in Nevada...A representative in Illinois last month put forth the first daily fantasy regulation bill, and officials from New Jersey and Pennsylvania each held hearings on daily fantasy sports this week. A federal grand jury has convened in Florida, according to multiple legal sources. Arizona, Iowa, Louisiana, Montana and Washington prohibit fantasy sports for money. Several additional states do not allow some forms of daily fantasy.
ESPN announced that a full ten per cent of their business comes from New York, so this a major blow indeed.
rocktivity
2 replies
= new reply since forum marked as read
= new reply since forum marked as read
that DraftKings/FanDuel and professional sports lobby for a change to the law and/or donates ("buys"
candidates who will help?
There's big money at stake here.
