Class Discussion Assignment
Daily Fantasy Sports Betting Ilegal or Legal?
On January 16, 2016, the Texas attorney general rules that by Texas state laws that daily fantasy sports betting (DraftKings and FanDuel) was declared illegal now. The attorney general said the reason was illegal under state law was that Texas “prohibits bets that hinge on the partial or final result of a game or contest or on the performance of a participant in a game.” Where as the traditional fantasy sports leagues were legal under their state laws. DraftKings said that they ...view middle of the document...
Business researchers and analysts have found that if Texas and New York official ruled DraftKings and FanDuel illegal in their states, the businesses would around 25% of their customers on both websites. They say that the state of New York, alone, has contributed more than 1.2 million customers and the companies would lose close to $35-40 million in revenues. The researchers and analysts and lawyers have said that they see the court cases and an overall opinion to the United States that “it will be looked into as a state by state basis to approval or denial of the daily fantasy sports betting world.”
Drape, Joe. January 16, 2016. Texas Attorney General Deems Daily Fantasy Sports Illegal. http://www.nytimes.com/2016/01/20/sports/texas-attorney-general-deems-daily-fantasy-sports-illegal.html?_r=0
Purdue, David, and Associated Press. December 24, 2015. Illinois AG Lisa Madigan: DFS betting is illegal gambling. http://espn.go.com/chalk/story/_/id/14430508/illinois-attorney-general-lisa-madigan-says-daily-fantasy-sports-betting-illegal-gambling
Perez, A.J.. January 11, 2016. Draft Kings, FanDuel granted stay, permitted to operate in New York. http://www.usatoday.com/story/sports/2016/01/11/draft-kings-fanduel-new-york-stay/78639584/