FanDuel/DraftKings Fight the Keep Your Money
Daily Fantasy Leagues are not a game of skill, no matter what their commercials say.
NYS AG Declares It’s Time to Pay Up.
NYS Attorney General Eric Schneiderman has taken action against DraftKings and FanDuel, the two most popular daily fantasy sites in the state. The New York Times published the AG’s cease and desist letter on November 10. DraftKings and FanDuel can’t sign any new entries in New York. Schneiderman found that the daily fantasy leagues are unregulated gambling under New York State law. The AG told the Times:
“It is clear that DraftKings and FanDuel are the leaders of a massive, multibillion-dollar scheme. [The scheme] is intended to evade the law and fleece sports fans across the country. Today we have sent a clear message: not in New York, and not on my watch.”
On Friday, FanDuel and DraftKings struck back. They countersued and are seeking an injunction in order to keep operating. As reported by TechCrunch, DraftKing’s statement read:
“Today, we have taken decisive legal action to prevent a unilateral, misinformed and legally misguided attempt by the New York Attorney General to act as “judge, jury and executioner” for daily fantasy sports in New York. We are asking the New York Supreme Court to rule that the Attorney General’s cease-and-desist letter is unconstitutional, an abuse of discretion, and simply wrong. We are confident in our legal position and intend to continue to fight to preserve the right of the over 500,000 New York consumers to play the fantasy sports games they love.” – DraftKings
There’s No Such Thing as a Free Ride
Let’s face it–we knew daily fantasy leagues were on borrowed time. That feeling of ‘shadiness’ was part of the appeal. FanDuel and DraftKings generated too much money, to go unregulated by New York. FTS agrees with Craig Carton of WFAN who has stated on-air that daily leagues should switch to online currency. The daily leagues could operate legally land a whole new generation of degenerate gamblers would be created. Everyone wins.