Following a probe by a handful of U.S. states as to whether Daily Fantasy Sports constitutes illegal gambling, DraftKings has begun to distance itself from partnerships that may otherwise imply such ties.
That came to fruition on Friday with DraftKings severing of its partnership with the World Series of Poker.
The two leading Daily Fantasy Sports firms, DraftKings and FanDuel, have had to cancel their marquee championship events held in Las Vegas following the Nevada Gaming Control Board decision to prohibit DFS sites from operating in the state without the proper licensing provisions.
(News Services of Florida) - Florida Senate President Andy Gardiner is exploring what the state can do to shut down daily fantasy sports, even as federal prosecutors are probing the online industry that has taken the nation by storm and drawn accusations of illegal gambling.
(Associated Press) - In a letter sent Tuesday, college sports' largest governing body notified executives from DraftKings and FanDuel it would cancel future meetings and ban advertising from the two popular websites during NCAA championship events such as the men's basketball tournament.
Within 24 hours of the Georgia Lottery making public its intent to launch a probe into Daily Fantasy Sports powerhouses DraftKings and FanDuel, news broke that casino magnate and GOP mega donor Sheldon Adelson is now looking to open a casino in the Peach State.
Amaya Gaming, the parent company of PokerStars, has announced it will be ceasing operation of its real money Daily Fantasy Sports contests at its newly acquired StarsDraft brand pending state regulatory reviews.
ATLANTA (Associated Press) -- Georgia Lottery officials are questioning whether the daily fantasy sports industry can legally operate in the state.
LAS VEGAS (Associated Press) — As more states scrutinize the daily fantasy sports industry, the office of Nevada's attorney general said it used DraftKings' own words and online images as evidence the sites qualify as gambling.
Enter Fantasy sports own trade association into the current probe of the Daily Fantasy Sports sector. The Fantasy Sports Trade Association (FSTA) has been subpoenaed by the Florida prosecutor’s office based out of Tampa.
Chicago Bears wide receiver Alshon Jeffrey is an excellent DFS option this weekend against a lowly Detroit defense. The only question: Will he play?
At $6.4K, he’s a top choice if assuming he’s ready to go, and it appears he is.
LAS VEGAS — (Associated Press) - Nevada regulators have ordered daily fantasy sports sites like DraftKings and FanDuel to shut down, saying they can’t operate in the state without a gambling license.
The decision comes amid growing backlash by investigators and regulators over the sites, which have grown in popularity in the past year, and could cause ripples in other states that have questioned their legality. Regulators elsewhere often watch decisions made by Nevada's Gaming Control Board since it governs Las Vegas area casinos.
“I feel like J. Robert Oppenheimer, having invented the atomic bomb,’’’ Dan Okrent said last weekend. “I meant it for peaceful purposes.’’
Okrent is the man who came up with the concept of season long fantasy sports at the close of the 1970’s. At the time he could not have conceived of one-week or even one-day leagues.
The FBI and U.S. Justice Department have initiated an investigation into the two leading Daily Fantasy Sports companies, DraftKings and FanDuel.
The concern lies with whether Daily Fantasy Sports is actually a form of illegal sports betting, an activity forbidden under the federal Wire Act.
From the Wall Street Journal:
Politico is reporting that Daily Fantasy Sports juggernauts FanDuel and DraftKings have begun a massive lobbying blitz in light of a recent scandal that made headlines across the airways last week.
The PokerStars backed StarsDraft has opted to exit the Florida market while other Daily Fantasy Sports operators may soon follow suit in wake of news that a federal grand jury is being convened by the U.S. Attorney’s office in Tampa to determine if some yet-to-be-named DFS companies have been in violation of local state law.
It began as a post questioning whether one of FanDuel’s top players may somehow be using an autoscript to scrape up posted plays of other FanDuel customers, most of which involves National Hockey League plays.
When it comes to NFL Week 5 Daily Fantasy NFL, the Arizona Cardinals receivers look to be among your best options. Even Michael Floyd looks attractive in some Fantasy formats.
Just days after allegations of potential insider trading at both DraftKings and FanDuel came to light, both companies are now facing a class action suit.
FanDuel, a leading Daily Fantasy Sports company, finds itself front and center of a massive scandal involving possible insider trading.
A DraftKings employee, Ethan Haskell, won $350,000 on that site using what many believe to have been information giving him an unfair advantage.
In a letter to both Daily Fantasy Sports behemoths DraftKing and FanDuel, New York Attorney General Eric T. Schneiderman demanded the names, job titles and descriptions of any employees who aggregate and compile a wide range of data that perhaps could be used to gain a personal advantage — including ownership percentages and pricing algorithms. The companies have until Oct. 15 to respond, according to the New York Times.
Jeremy Greenfield of TheStreet.com predicts that a scandal rocking the Daily Fantasy Sports sector will do nothing to stop the industry’s phenomenal growth.
On October 5, 2015, the New York Times blew wide open a story that had begun to spread throughout the Daily Fantasy Sports community.
Both DraftKings and FanDuel were forced to release statements defending their businesses’ integrity after what amounted to allegations of insider trading, that employees were placing bets using information not generally available to the public.
Responding to the shocking reports this week that a DraftKings employee had won $350,000 playing on a competing website, quite possibly with insider information, Major League Baseball – which owns a piece of DraftKings - issued the following statement.
TORONTO — (Canadian Press) - Daily fantasy website DraftKings has signed a four-year advertising and promotion deal with Maple Leaf Sports and Entertainment, owner of the Toronto Raptors and Toronto Maple Leafs.
Mainstream media has begun to pick up on a scandal involving the Daily Fantasy Sports site DraftKings in which an employee of that company managed to win big playing at a competing site, FanDuel.
He won to the tune of $350,000, prompting concerns over potential insiders information being misused.