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The NY DFS bill passed. What does it mean for fantasy football? (1 Viewer)
- Thread starter lilmink
- Start date
stuckinthemuck
Footballguy
It's nice that the State legislature pushed this through but we gotta wait for Governor Cuomo to sign the bill. Until then, wait. At least the political winds are turning against the AG for now.
stuckinthemuck
Footballguy
We're back in business:
New York Gives Green Light To Daily Fantasy Sports
http://www.forbes.com/sites/darrenheitner/2016/08/03/new-york-gives-green-light-to-daily-fantasy-sports/#526f8dad60b5
Darren Heitner ,
CONTRIBUTOR
I cover the intersection of sports and money.
Opinions expressed by Forbes Contributors are their own.
In November 2015, New York Attorney General Eric T. Schneidermandemanded that DraftKings and FanDuel immediately cease and desist taking entry fees in New York. Nearly nine months later, New York governor Andrew Cuomo has signed a bill into law that allows daily fantasy sports operators to exist in the state as long as they apply for and receive registration with the New York State Gaming Commission.
Daily fantasy sports companies in existence prior to November 10, 2015 are able to apply for temporary permits while their applications are processed. It is likely that FanDuel and DraftKings obtain said temporary permits within days and should be back in business in New York before the end of August.
Daily fantasy sports fanatics are not the only class of constituents expected to benefit from New York’s adoption of entry fee daily fantasy sports. Governor Cuomo’s office believes that these games should generate approximately $4 million in additional revenues for education aid.
“With strong consumer protections and economic benefits to the state, I believe this legislation can serve as a model for the rest of the country,” said Senator John J. Bonacic.
As of today, daily fantasy sports has been declared by various attorneys general to be illegal in nine states, as well as Nevada, where it is illegal unless an operator possesses a state gambling license. New York’s consumer protections includes requiring that daily fantasy sports operators identify highly experienced players and prohibit the participation of minors from engaging in entry fee game play.
FanDuel and DraftKings are not completely off the hook in New York. Attorney General Schneiderman insists that he will still pursue false advertising and consumer fraud claims against the companies. The daily fantasy sports companies could be forced to disgorge prior earnings emanating from New York if Attorney General Schneiderman prevails in his lawsuit.
New York Gives Green Light To Daily Fantasy Sports
http://www.forbes.com/sites/darrenheitner/2016/08/03/new-york-gives-green-light-to-daily-fantasy-sports/#526f8dad60b5
Darren Heitner ,
CONTRIBUTOR
I cover the intersection of sports and money.
Opinions expressed by Forbes Contributors are their own.
In November 2015, New York Attorney General Eric T. Schneidermandemanded that DraftKings and FanDuel immediately cease and desist taking entry fees in New York. Nearly nine months later, New York governor Andrew Cuomo has signed a bill into law that allows daily fantasy sports operators to exist in the state as long as they apply for and receive registration with the New York State Gaming Commission.
Daily fantasy sports companies in existence prior to November 10, 2015 are able to apply for temporary permits while their applications are processed. It is likely that FanDuel and DraftKings obtain said temporary permits within days and should be back in business in New York before the end of August.
Daily fantasy sports fanatics are not the only class of constituents expected to benefit from New York’s adoption of entry fee daily fantasy sports. Governor Cuomo’s office believes that these games should generate approximately $4 million in additional revenues for education aid.
“With strong consumer protections and economic benefits to the state, I believe this legislation can serve as a model for the rest of the country,” said Senator John J. Bonacic.
As of today, daily fantasy sports has been declared by various attorneys general to be illegal in nine states, as well as Nevada, where it is illegal unless an operator possesses a state gambling license. New York’s consumer protections includes requiring that daily fantasy sports operators identify highly experienced players and prohibit the participation of minors from engaging in entry fee game play.
FanDuel and DraftKings are not completely off the hook in New York. Attorney General Schneiderman insists that he will still pursue false advertising and consumer fraud claims against the companies. The daily fantasy sports companies could be forced to disgorge prior earnings emanating from New York if Attorney General Schneiderman prevails in his lawsuit.
Florida too.
I'm done with DFS (and I think many people all over the US are too) until we get more clarity from each state regarding legality of it all.
karmarooster
Footballguy
It means I'm back. Logged into my account and found $3 and enough FD points for another $2. Rolled over a pre-paid visa card that I got from League Safe for another $75 for the big bucks.
I also noticed that FD has tried to re-brand, with the logo changes. Most likely to wash the bad taste from last year away. There was a pop up about "things looking different around here" trying to convey the message that FD has cleaned up some of the issues from last year. It wasn't clear if there were substantive changes other than new logo and design. For example, have the eliminated the ability of industry insiders to play their games ("Ethan")?
I also noticed that FD has tried to re-brand, with the logo changes. Most likely to wash the bad taste from last year away. There was a pop up about "things looking different around here" trying to convey the message that FD has cleaned up some of the issues from last year. It wasn't clear if there were substantive changes other than new logo and design. For example, have the eliminated the ability of industry insiders to play their games ("Ethan")?
Daily Fantasy Power
Footballguy
None of the big sites allow their employees to play an any DFS site. They have also taken action to limit the number of entrees someone can enter in a single contest. Yes, there rebrand is to change their perception--Draft Kings is also changing their message--they are not stressing winning $$ nearly as much, rather talking about the thrill of playing, the camaraderie of it all.
Joe T
Footballguy
I tried to open a draft kings account yesterday, but it wouldn't accept any of my cards. Even a prepaid card. Sounds like the banks are blocking all deposits in Texas.
I guess I'll make the hour drive to Oklahoma if I want to play FanDuel. Still have money in there.
Eta: hopefully that works
I guess I'll make the hour drive to Oklahoma if I want to play FanDuel. Still have money in there.
Eta: hopefully that works
Last edited by a moderator:
Daily Fantasy Power
Footballguy
That's odd, everything I have heard says that Fan Duel is not taking play from Texas, but that Draft Kings is. I wonder if that is a new policy?
