Daily Fantasy Sports News
The fantasy sports sector was left frustrated Thursday wondering why the Fantasy Sports Trade Association had apparently allowed a major media outlet to gain access to damning meeting notes.
ESPN revealed Thursday that they had obtained FSTA meeting minutes in which DraftKings CEO Jason Robins essentially admitted that his company had knowingly broke the law as it pertains to violation of the Unlawful Internet Gaming Enforcement Act.
The FSTA was also subpoenaed to provide similar information to the New York Attorney General’s office with what appears to be little fight.
BOSTON (Associated Press) — Daily fantasy sports companies like FanDuel and Boston-based DraftKings would be allowed to continue operating in Massachusetts, but with age and advertising restrictions, disclosure requirements and other new rules proposed Thursday by the state's attorney general.
Maura Healey announced what she called an aggressive, first-in-the-nation plan to regulate the websites after her office spent several weeks reviewing whether the contests were legal in the state.
New York State Attorney General Eric Schneiderman expanded his probe into Daily Fantasy Sports sites this week, issuing subpoenas against media giant Yahoo. That company entered the DFS market this past summer.
The attorney general sought an injunction on Tuesday to prevent both DraftKings and FanDuel from operating within the state, calling the companies “plainly illegal” and “nothing more than a rebranding of sports betting.”
One of the primary investors in Daily Fantasy Sports site Star Fantasy Leagues as well as a stakeholder in Ladbrokes, Dermot Desmond, has attacked that UK bookmaker’s merger with Coral saying it is “the wrong deal”.
The Irish billionaire is considered to be Ireland’s answer to Warren Buffett.
“Ladbrokes’ shareholders should instruct the board to properly evaluate all strategic options open to it before committing to what I believe is the wrong deal,” he said.
NEW YORK — (Reuters) - A New York state judge denied a temporary restraining order sought by daily fantasy sports companies DraftKings and FanDuel in an effort to keep operating in the state after New York's attorney general deemed the games to be illegal gambling.
In seeking the restraining orders, the companies said that New York Attorney General Eric Schneiderman's office had been pressuring their vendors to stop doing business with them, and they could be forced to close up shop in the state.
BOSTON (Associated Press) — Top daily fantasy sports companies are fiercely rejecting the idea that their rapidly growing industry should be considered gambling in the United States.
But FanDuel and DraftKings are OK with that label in the United Kingdom. They're embracing it as a step toward global expansion.
U.K. gambling regulators granted a gambling license to DraftKings in August, while FanDuel applied earlier this month for a license as a "gambling software" company.
NEW YORK (Associated Presss) — New York's attorney general on Tuesday ordered the daily fantasy sports companies DraftKings and FanDuel to stop accepting bets in the state, saying their operations amount to illegal gambling.
In a pair of letters sent to the companies, Attorney General Eric Schneiderman said that after a one-month investigation, his office had concluded that the daily contests are essentially games of chance, not skill.
The two leaders in Daily Fantasy Sports continue to see drops in their total weekly entry fees following increasing scrutiny by some state Attorney General’s offices as well as lottery and gaming commissions.
“FanDuel, DraftKings, and Yahoo all suffered small dips in total entry fees, but they balanced the books accordingly with reduced prizes out totals,” SuperLobby said in its weekly data release. “This means improved effective margins for the big guns — all three will likely feel satisfied with their NFL Week 9 Sunday results.”
One of the leading Daily Fantasy Sports sites FanDuel has announced aggressive plans to enter the United Kingdom market.
The company had already applied for a UK gambling license, lending further credence to the notion that what it does is gambling.
In the wake of a handful of state Attorney Generals, Gaming Commissions and politicians cracking the whip on the explosive Daily Fantasy Sports industry, SuperLobby.com data has shown that industry-wide entry fees for DFS guaranteed tournaments has continued to fall.