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FlowPlay launches All Star Daily Fantasy as alternative to social sports gambling

Daily fantasy sports have created a lot of controversy. Since the winnings come in real money, some states are calling it illegal gambling. But FlowPlay is offering an alternative with the launch of its new social sports game, All Star Daily Fantasy. The title offers the gameplay of betting on daily fantasy sports games, but it […]

A ton of Americans are making a 'dangerous retirement gamble'

FA Insights is a daily newsletter from Business Insider that delivers the top news and commentary for financial advisors. Many Americans are making a 'dangerous retirement gamble' (Gary D. Halbert's Between the Lines) " More and more...Show More Summary

DraftKings and FanDuel suspend play in New York, but are daily fantasy sports actually gambling? The truth behind DFS

Leading daily fantasy sports (DFS) operators DraftKings and FanDuel Monday reached a deal with New York Attorney General Eric Schneiderman to "stop taking bets in New York State." The agreement represents a major victory for Schneiderman who's been trying to oust both sites from New York since October of last year. Show More Summary

FanDuel and DraftKings shut down games in New York

NEW YORK (Reuters) - Top daily fantasy sports companies FanDuel and DraftKings agreed to stop taking money in New York on Monday, amid a months long fight with the state's attorney general over whether the games are illegal gambling....Show More Summary

Daily fantasy sports bill signed into law in Virginia - CNET

Law regulates how sites like DraftKings and FanDuel can operate legally in the state, distinguishing them from gambling sites.

Daily fantasy sports outlook: No profits, lots of uncertainty, and dying unicorns

The daily fantasy sports market rose dramatically in the past few years with the rise of DraftKings and FanDuel. But in 2015, regulators closed in, with some declaring the betting on sports outcomes amounted to illegal gambling, rather than legal skill-based wagering as the companies alleged. A total of 29 states are considering legislation related […]

As California considers licensing fantasy sports websites, experts warn of a major problem: gambling addiction

As lawmakers consider licensing daily fantasy sports websites in California, compulsive bettors and those who treat them are warning that a new generation of problem gamblers is being created in the state. Up to 1 million Californians already have a gambling problem, and existing treatment and...

A California man used investor money to pay off his gambling debts

FA Insights is a daily newsletter from Business Insider that delivers the top news and commentary for financial advisors. Unregistered broker used client money to pay gambling debts (Financial Advisor) Gregory Ruehle, an unregistered...Show More Summary

Payment Processor Cutting Ties With DraftKings, FanDuel Amid Gambling Disputes

With the state officials in Nevada, New York, Illinois, and now Texas all saying they believe that daily fantasy sports [DFS] sites DraftKings and FanDuel are unlicensed gambling operations, a company that had processed payments for both of these sites has reported severed ties with the industry. The New York Times reports that payment processor Vantiv has …

Hawaii Might Say 'Aloha' to Daily Fantasy Sports

The state is the latest to find that the games are illegal gambling—a string of rulings that threaten the industry’s existence.

Hawaii’s attorney general has issued an opinion that says daily fantasy is illegal gambling under st

3 months agoSports : Deadspin

Hawaii’s attorney general has issued an opinion that says daily fantasy is illegal gambling under state law, becoming the umpteenth state attorney general to do so. [Honolulu Star-Advertiser] Read more...

Texas Attorney General Declares Daily Fantasy Illegal Gambling, And The End Is Nigh

3 months agoSports : Deadspin

Texas Attorney General Ken Paxton issued an opinion today that daily fantasy sports constitutes illegal gambling under Texas law. “It is prohibited gambling in Texas if you bet on the performance of a participant in a sporting event and the house takes a cut,” he said in a statement. Show More Summary

Now Texas Says DraftKings And FanDuel Are Gambling

Problems keep mounting for daily fantasy sports sites. The post Now Texas Says DraftKings And FanDuel Are Gambling appeared first on WIRED.

Texas Attorney General Deems Daily Fantasy Sports Illegal

3 months agoNews : NYTimes: News

With the opinion by Ken Paxton that daily fantasy sports constitute “prohibited gambling,” Texas became the latest state to decide FanDuel and DraftKings are running afoul of state law.

Texas Attorney General Says Daily Fantasy Sports Is Prohibited Gambling

Texas Attorney General Ken Paxton has announced, via an opinion, that daily fantasy sports is prohibited gambling in Texas as long as the operations are taking a cut on the competitions. "Simply put, it is prohibited gambling in Texas if you bet on the performance of a participant in a [...]

Bart & Fleming: Ricky Gervais KO’d By Mel Gibson And Other Globes Lessons; Kevin Spacey & Dana Brunetti’s Gamble

Peter Bart and Mike Fleming Jr. worked together for two decades at Daily Variety. In this weekly column, two old friends get together and grind their axes on the movie business. FLEMING: Two observations about Sunday’s Golden Globes....Show More Summary

How The Daily Fantasy Sports Industry Turns Fans Into Suckers

4 months agoNews : Huffington Post

In my early 20s, I developed a gambling problem that I’ve since learned to spread out over a variety of low-stakes games — Scrabble, pitch-and-putt golf, my stock profile on ETrade. -- This feed and its contents are the property of The Huffington Post, and use is subject to our terms. It may be used for personal consumption, but may not be distributed on a website.

Illinois' Attorney General Thinks All Forms Of Fantasy Sports Are Illegal Gambling 

4 months agoSports : Deadspin

Illinois Attorney General Lisa Madigan delivered a giant lump of coal to the Daily Fantasy Sports industry on Wednesday as she declared that FanDuel and DraftKings are operating illegal gambling sites. Read more...

Illinois AG says DraftKings and FanDuel are illegal gambling

Daily fantasy sites DraftKings and FanDuel have had another brush with the law, this time in Illinois. According to Sports Illustrated, Illinois Attorney General Lisa Madigan declared the websites to be illegal gambling under state law, and has sent a letter requesting that both sites post that Illinois residents are not eligible to play. Show More Summary

Illinois Attorney General Says DraftKings, FanDuel Are Illegal Gambling Sites

While daily fantasy sports (DFS) sites DraftKings and FanDuel are hanging on to their hundreds of thousands of paying New York state customers by a legal thread, the high-profile operations are coming under scrutiny in the Central time zone, with the Illinois attorney general opining that DFS sites constitute illegal gambling under state law. Illinois AG Lisa Madigan provided …

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