Gambling to feature at NY daily fantasy sports hearing

New York Attorney General Eric Schneiderman has ordered FanDuel and DraftKings to stop offering games to New York players, arguing that it constitutes illegal gambling and is hurting New York residents.

Pretlow said he is concerned that teens under age 18 are DFS players, and DFS companies, unlike regulated gambling entities, don’t pay licensing or other fees to the state for the right to operate.

“When DraftKings and FanDuel go over there and say ‘We want to get a gaming license”, Drake Law professor Keith Miller told HuffPost, “I think it’s like so many things they have done: having a little bit of tone deafness about how it comes across to people who aren’t as involved as many people are”.

Then, at the conclusion of the hearing, Manhattan Supreme Court Justice Manuel Mendez continued the suspense, saying only that he would issue a written decision “soon”. Hoop2410 is the 8th ranked player on Rotogrinder, a website that compiles the top daily fantasy sports players across multiple platforms.

Whichever way the case eventually plays out has the potential to set a precedent for the increasingly popular daily fantasy sports industry.

So are daily fantasy sports games of skill or chance?

Contending that daily fantasy sports sites are gambling businesses that must be licensed by the state, Levine wrote, “These games should be shut down in California until California law is made clear and consumers are protected”.

DraftKings has come under fire in recent weeks after it was revealed one of its employees released inside information and was able to win a significant real-money prize through competitor FanDuel.

Traditional fantasy leagues revolve around the concept of drafting individual players to your fantasy team prior to the season and accumulating points based on how well your players do over the course of the year. Not only do more than 10 percent of all daily fantasy sports players live in NY, but a ruling there could influence courts in other states.

During Wednesday’s hearing, Mendez asked few questions, but pushed McGee to address why Schneiderman’s office was taking the stance that seasonal fantasy sports were legal unlike the daily version.

“You have a long-standing status quo that they’re trying to upend with a temporary injunction”, @DraftKings attorney David Boies says of AG. Federal regulation that stems from the Unlawful Internet Gambling Enforcement Act of 2006, under which season-long fantasy is permitted but rules for daily play are not specified.

He argues that the exact strategies that happen in, say, a football game, like a winning quarterback taking a knee during the last minutes of a game, could not be anticipated by someone playing a daily fantasy game no matter how skilled that person is.

“The fact that they weren’t participants in the underlying sport doesn’t change that they were very active participants in the daily fantasy sports contest”, said Kiernan, of the law firm Debevoise & Plimpton. It is nothing but a money grab by the state.

The committees have invited Schneiderman to testify, along with the state comptroller, New York State Gaming Commission, New York Council on Problem Gambling, and New York Gaming Association.