Daily fantasy sports websites are trying to get legal after a series of state-level setbacks that shut them down in some parts of the country, but officials who set policy in the gambling mecca of Nevada indicated they won't be bending too far backward for the companies. … Click to Continue »
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DraftKings and FanDuel suspended operations there after after the state's attorney general argued they were essentially gambling sites. A new state law declares fantasy sports to be games of skill.
Illegal gambling or game of skill? Empire State chooses latter in new law legitimizing the popular online sports contests
In the final hours of the legislative session early Saturday, the New York Senate passed a bill declaring that daily fantasy sports do not constitute gambling under state law. Gov. Andrew Cuomo is expected to sign it. "New York fantasy...Show More Summary
NFL Commissioner Roger Goodell has said that fantasy football isn’t about wagering, and that daily fantasy isn’t really gambling because it’s not about the outcome of games. The second-most prominent member of the Goodell family thinks differently. Andy Goodell, Roger’s cousin, is a New York State assemblyman. The New York legislature is currently debating the…
Welcome to Monday’s edition of our daily Brussels Briefing. To receive it every morning in your email in-box, sign up here. By Aleksandra Wisniewska In March, Europe’s leaders gambled their political futures, diplomatic credibility and...Show More Summary
Coffee to combat your daily slump and fatigue? No more... the "2016" caffeine shot at work is... sleep! A number of high profile companies such as Google, Zappos, Cisco and Proctor & Gamble have started to offer their employees an alternative...Show More Summary
The daily fantasy industry has assumed a much lower profile in recent months, even as the assault against the non-gambling gambling activity has continued in various states throughout America. On Wednesday, the federal government will take a closer look at a business model spawned by federal legislation from 2006 that made online wagering illegal —…
Leave it to the states. That is the conclusion of theCompetitive Enterprise Institute(CEI), which has released a new report regarding online gambling with a focus on daily fantasy sports. The reportis releasedin advance of a scheduled hearing before theU.S. House of Representatives Committee on Energy and Commerce on the issues [...]
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 […]
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
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
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
Law regulates how sites like DraftKings and FanDuel can operate legally in the state, distinguishing them from gambling sites.
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 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...
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
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 …
The state is the latest to find that the games are illegal gambling—a string of rulings that threaten the industry’s existence.