Eric Risberg/AP Yahoo operates a daily fantasy sports site similar to DraftKings and FanDuel – both of which have halted operations until at least September.
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Yahoo Inc will suspend offering paid Daily Fantasy Sports contests in NY from Wednesday, a Yahoo spokesman said on Tuesday.
Despite the move, “Yahoo believes that its contests are lawful, and we will continue to assess the legal environment for daily fantasy”, a company spokesman confirmed. DraftKings and FanDuel challenged the state in the following months before announcing Monday that they would stop operations as ny works on a DFS bill that would allow them to re-enter the market and be in full compliance with the law.
Under the terms of the settlement, FanDuel and DraftKings are excused from paying fines and penalties for operating “illegally” in New York, although they could still face charges for “false advertising and consumer fraud”, according to the New York AG.
State legislators are expected to review a bill this year that looks to legalize the DFS industry and should they pass the bill, DraftKings and FanDuel will once again be able to offer paid DFS games in NY.
Schneiderman released a statement on the agreement, commenting that he is pleased to announce that DraftKings and FanDuel will no longer be taking bets in the state, begin consistent with the cease-and-desist orders that were issued by his office at the beginning of the matter. The games, he argued, are dependent on many factors – such as player injuries or bad weather – that could affect the outcome despite a player’s skill level.
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As daily fantasy continues to evolve, the labeling of a small percentage of “Veteran” players with a distinct badge is a key change that will make it easier for all players to know who they are playing against on Yahoo Sports Daily Fantasy. “Our decision today does not impact users in other states”. The second would put into law an attorney general’s opinion that such betting is illegal, unless voters approve.
