State scrutiny of daily fantasy sports grows

Illinois doesn’t allow internet gambling.

“It appears that although the sites” representatives publicly state that they do not believe daily fantasy sports involve “wagers” or “bets, ‘ they do use the terms “betting” and “wagering” when they are not dealing with law enforcement agencies”, the memo noted. “We saw regulation on the horizon”, he said.

Kelly described that lawmakers were thinking of fantasy sports “on a seasonal basis”, when UIGEA was conceived. We appreciate that the Nevada Gaming Control Board has provided that clarity as well as a roadmap for DFS companies and casinos to provide popular fantasy sports within Nevada borders.

“Then various entities began to push the envelope closer to monthly, then weekly games, then daily”, Kelly said.

Under current state laws all operators must obtain a license in order to operate a sports pool.

California Assemblyman Adam Gray, D-Merced, who introduced a bill to legalize fantasy sports there, said Nevada’s decision provided more evidence of the need for oversight. The regulator confirmed that daily fantasy sports activities falls under and meets the defined criteria as a gambling game. “DraftKings and FanDuel employees have access to both things, neither of which is public”.

“It has the potential to have this massive echo effect”, Dunbar warned.

FanDuel and DraftKings, Kelly explained, exclude, “residents of Arizona, Iowa, Louisiana, Montana and Washington”. Often, the state leans toward whether it’s a game of chance or skill. It only makes the comparison at a functional level.

“It runs the spectrum”, Dunbar said.

FanDuel’s affiliate partnerships are being used to spread the word.

“They do their homework”, Robins said. DraftKings said last week it has retained John Pappalardo, a former US attorney in Massachusetts, to conduct its internal probe. Were they to do so, they’d essentially forfeit their legal position. More than 500 people showe… Basically, you pick a team, deposit your wager, and if your team wins, you get the pot. “I am one of them”, the petition states.

Since online fantasy football sites are considered to be gambling, government officials are also concerned about the lack of currency control. The employee, Ethan Haskell, was found to have made $350,000 on rival site FanDuel.

The Federal Bureau of Investigation, the New York state attorney general’s office and other authorities are investigating allegations that the companies ignored or encouraged a form of insider trading in which employees used closely held information to get an advantage over regular bettors. No one operating a daily fantasy site has one.

Casinos have largely stayed away from daily fantasy contests, uncertain whether introducing such games or even partnering with companies like DraftKings would be permitted under theconditions of their state gambling licenses. “We’re going to regulate you”.

The governing body for college sports, which has strict rules for its players prohibiting sports betting, has expressed its discomfort with daily fantasy sports. “It would raise a lot of money”.

The DraftKings CEO also states that DraftKings’ “concept is a mashup between poker and fantasy sports”.