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New York Attorney General Rules DFS ‘Illegal’, Issues Cease & Desist To FanDuel and Draft Kings
Daily Fantasy Sports is illegal, according to New York attorney general Eric Schneiderman. And as such, Schneiderman has told both FanDuel and Draft Kings to stop accepting wagers from residents of the state of New York.
In his statement (via ESPN), the New York GA says, “Our review concludes that DraftKings’/FanDuel’s operations constitute illegal gambling under New York law,” adding “each DraftKings/FanDuel wager represents a wager on a ‘contest of chance’ where winning or losing depends on numerous elements of chance to a ‘material degree.’”
Schneiderman has not told the sites to stop operating in the state—only to stop accepting wagers from New Yorkers. He also said that he is not seeking to obtain any money from residents of the state who have won on Daily Fantasy Sports sites.
Both FanDuel and Draft Kings have set up petitions where fantasy enthusiasts can become involved in the fight to get DFS back in the state of New York. With more daily fantasy participants than any other state—according to industry research firm Eilers Research (via ESPN)—it is expected that both companies will do whatever they can to fight the Attorney General’s decision.
Hat Tip – [ESPN]