MA Thinks Daily Fantasy Sports Needs Better Rules

These documents-which include internal presentations to investors, each company’s advertising budget since 2012, and one of the first concrete looks at the sites’ total American enrollees-filed by the Big Two shed new light on an industry that, for all of its recent publicity, is still decidedly non-public.

Shkolnik does his best to pinpoint his belief that daily fantasy is gambling in his 45-page criminal suit.

Predominantly going off Schneiderman’s ruling that DFS isn’t protected through the UIGEA loophole that allowed for fantasy sports games when it was passed in 2006, Shkolnik opines that customers are unknowingly gambling when being told it’s skill-based.

This led to questions concerning the legality of daily fantasy sports.

Former Attorney General Rob McKenna also testified before the committee. Comcast and Time Warner are investors in FanDuel, Fox in DraftKings.

Like daily fantasy companies, poker companies have argued that poker should be legal because it is a skill game. We enforce the laws as they’re written.

Kelley said Minnesota’s gambling laws break down pretty easily. The two parties are battling over how much of DFS is skill and how much is up to chance. According to the minutes, Robins stated his belief that operators should not need to operate consistently with UIGEA if they can operate lawfully under state law, noting that state laws pertaining to wagering superseded federal ones.

The Particulars So, is daily fantasy a game of skill or luck?

“The skills required for all three are the same”, he said. But once the rosters lock and the games begin, their performance is left to chance. He doesn’t sound inclined to outlaw daily fantasy games outright, but he says, “It’s when these activities go unregulated that the problems happen”. “These are not moveable chess pieces that can be altered midstream or altered over the course of the games”.

“New York law expressly permits New Yorkers to pay entry fees to contest for fixed prizes”, Boies said in a conference call with reporters Friday. They should be allowed to continue until a legal decision is made. “But just because something is hard, doesn’t mean that it’s lucky if you’re successful”. FanDuel alone claims to sign up 20,000 to 30,000 players each day. “You’re putting something of value at risk on something with an uncertain outcome in the hope of earning a reward”. What percentage of tennis players are winning the majority of tournaments?

“There’s a small set of professional players who have figured out an advanced way to win the majority of the games”, Healey said.

The companies caught the NY attorney general’s attention with their ad blitzes this year around the start of the National Football League season.

The Fallout The attack seems squarely on daily fantasy for now. But in my opinion, that issue has been settled by the NCAA, as the association forbids college athletes from engaging in sports fantasy leagues under the threat of losing a year of college eligibility. In fact, a few 59% of the media advertising revenue growth in the last quarter ($134 million) came from the fantasy sites, according to analyst Todd Juenger of Sanford C. Bernstein and Co., who called that trend “unsustainable”.

Nevada, home to the United States’ gambling capital Las Vegas, last month ordered fantasy sports operations to cease operating in the state, determining that they were unlicensed gambling.