Friday, December 11, 2015

Fanduel and Draftkings

Throughout this football season the new thing to do is play in the daily fantasy football leagues.  In these leagues you put in money and if you win then you get money.  Some states are arguing that it is totally okay and not illegal gambling, but today rule against Draftkings and Fanduel.  The lawyers for the two fantasy football companies argued that their clients could not have violated gambling statuses because they were taking in entry fee and not wagers.  Now that Draftkings and Fanduel are not allowed in the state of New York, it should be interesting to see if other states follow New York's lead.  It is interesting because Fanduel's main headquarters is in New York City so they are allowed to still operate their national businesses from their New York headquarters, but they cannot do business with anyone inside the state.  In New York alone 600,000 people have played in daily fantasy  leagues having put up more than 200 million dollars in 2015 alone.

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