DraftKings was the first to see a judge during a Monday hearing in NY State Supreme Court. Daily fantasy sports advocates consider the activity legal through a loophole in the Unlawful Internet Gambling Enforcement Act of 2006 – the USA law that banned online poker – that exempts games of skill. “It should come as no surprise that companies associated with DraftKings or FanDuel are actively reviewing this matter in the context of business decisions”. “To say anyone can succeed on daily fantasy is a bit like saying that I could be the next James Bond”, Oliver says.
Advertisement
Those commercials for FanDuel and Draft Kings that take over our televisions during football broadcasts make daily fantasy sports seem so easy.
Except the TRO wasn’t issued, and it’s not exactly clear what will happen in the brief interim between today’s denial of the two firms’ joint motion and the hearing now tentatively scheduled for next Wednesday, barring further developments from Schneiderman’s office.
Optimal and Vantiv have processed credit cards for DraftKings since 2013, and the companies have an existing contract that runs until 2017, DraftKings said in its court filing in Boston.
FanDuel stopped taking new deposits from players in NY on Friday but allowed New Yorkers to play in games over the weekend with money they had already deposited.
“Montana’s constitution basically says, all forms of gambling are illegal, except those specifically authorized by the legislature”.
In the meantime, DraftKings said in a statement that it would continue doing business with NY customers.
The company is three days behind paying out withdrawals for players who have asked to be paid by check and two days behind for players who have asked to be paid using PayPal, company spokeswoman Justine Sacco said.
SuperLobby.com, a company that tracks fantasy sports contest data, said that every fantasy sports operator in its system saw its entry fees decline this weekend.
Advertisement
FanDuel and DraftKings are either worth $2bn or $0, depending on which day you read the paper.
