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