UPDATE: DraftKings says it was able to get the court to hold off on enforcing the injunction pending an appeal of today’s ruling. That means DraftKings will remain operational in New York state for the time being. [More]
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DraftKings Tries To Make Its Case That Daily Fantasy Sports Are Not Gambling
By 11.24.15
A week after New York state sued DraftKings, alleging that the daily fantasy sports (DFS) site is an illegal gambling operation, DraftKings has filed a brief with the court to make its argument that DFS isn’t gambling at all. [More]
Massachusetts Proposes New Regulations For DraftKings, FanDuel
By 11.19.15
While New York and Nevada have joined the ranks of states barring residents from playing daily fantasy sports sites DraftKings and Fan Duel, DraftKings’ home state of Massachusetts is demonstrating more flexibility, proposing new regulations that would still allow the sites to operate in the state. [More]
New York State Adds Yahoo To Inquiry Into Daily Fantasy Sports Sites
By 11.18.15
Four months after Yahoo announced it would offer sports fans the opportunity to make money by betting on professional athletes’ performances, the company became the latest target in a New York state investigation into the business practices of the currently unregulated multi-million dollar online daily fantasy sports industry. [More]
New York State Sues DraftKings & FanDuel Over Alleged Gambling, False Advertising
By 11.17.15
One week after concluding that, according to New York state law, daily fantasy sports sites DraftKings and FanDuel are unlicensed gambling operations, the state has filed lawsuits against both companies, seeking to stop them from offering their service to New Yorkers. [More]
John Oliver Has Rewritten Those DraftKings & FanDuel Ads For You
By 11.16.15
With daily fantasy sports sites DraftKings and FanDuel in a high-profile legal battle with New York state over whether they are a form of unlicensed gambling or games of skill, HBO’s John Oliver has released his own version of the sites’ infamous “anyone can win” ads. [More]
DraftKings, FanDuel Ask Court To Overturn New York State Ban
By 11.13.15
As expected, fantasy sports businesses are fighting back against the New York state attorney general’s determination that DraftKings and FanDuel are actually illegal gambling sites and should not be allowed to operate in the state. This morning, both DraftKings and FanDuel asked the court to overturn that decision. [More]
The Law That Allows DraftKings & FanDuel To Exist May Be The One That Comes Back To Bite Them
By 11.12.15
Earlier this week, the New York state attorney general’s office directed FanDuel and DraftKings to cease operating in the state after investigators concluded that these sites constitute a form of illegal gambling. The sites have vowed to fight this order, which would wipe out around 10% of their existing customer base, but the federal law that has allowed fantasy sports to exist may be the one that hurts them. [More]
New York Tells DraftKings & FanDuel To Cease Operations In The State
By 11.10.15
Almost a month after Nevada declared that daily fantasy sports sites like DraftKings and FanDuel are unlicensed gambling operations and barred them from operating in the state, New York appears to have come to a similar conclusion. [More]
FanDuel CEO Calls For “Sensible Regulation” Of Fantasy Sports
By 10.29.15
Two weeks after Nevada gaming regulators barred daily fantasy sports sites like FanDuel and DraftKings from operating in the state, claiming they were unlicensed forms of sports betting, the CEO of FanDuel has acknowledged that maybe his virtually unregulated industry could do with a tiny bit of oversight. [More]
Nevada Says DraftKings & FanDuel Are Unlicensed Gambling, Bars Them From Operating In State
By 10.16.15
The same day that news broke of an ongoing FBI investigation into the legality of online daily fantasy sports sites like DraftKings and FanDuel, Nevada gaming regulators declared that these sites are unlicensed gambling businesses and barred them from operating in the state. [More]
FBI Investigating Business Model Of DraftKings, FanDuel
By 10.15.15
Daily fantasy sports sites like DraftKings and FanDuel operate under a “games of skill” exemption to a federal law that prohibits banks from transferring money to most online gambling operations. But the Department of Justice is reportedly taking a closer look at how these companies actually work to see if their business models cross a legal line. [More]
Amid Growing Concerns About Employee Betting, DraftKings & FanDuel Have Best Weekend Yet
By 10.12.15
They say that there is no such thing as bad publicity. Just ask the folks at DraftKings and FanDuel. Only days after the New York attorney general’s office launched an investigation into potentially unfair business practices at these fantasy sports betting sites — and as questions about the behavior of employees at these companies continue to be raised — they saw more action than ever before. [More]
New York Attorney General Looking Into DraftKings & FanDuel
By 10.7.15
With the higher profile of unregulated fantasy sports betting comes more scrutiny from the public and more concerns from law enforcement about how these businesses might be running afoul of the law. Days after it was confirmed that a DraftKings employee had made $350,000 in one weekend gambling on competing site FanDuel, the attorney general for the state of New York has opened an inquiry into this growing industry. [More]
DraftKings, FanDuel Defend Themselves Against “Insider Trading” Allegations
By 10.6.15
If you’ve turned on a TV in the last month — and certainly if you’ve watched any live sports — you’ve no doubt been inundated with ads for both DraftKings and FanDuel, the two leading online fantasy sports leagues. But both companies are now having to publicly defend themselves as their industry deals with a scandal involving a DraftKings employee who made hundreds of thousands of dollars in a week gambling on FanDuel. [More]
