Connect with us

Hi, what are you looking for?

Jewish Business News

Business

New York AG: Fantasy sports bets illegal

Cos. vow to fight ban of ‘illegal’ games

draftkings

 

The heavyweights of the daily fantasy sports world were dealt a crushing blow yesterday when New York’s attorney general declared the games illegal — but Boston-based DraftKings vowed to fight the ruling and said it will continue to operate in the state.

“We are not pulling out of New York, ” 
DraftKings spokesman Benjamin Spicehandler told the Herald. “We are fighting this.”

Please help us out :
Will you offer us a hand? Every gift, regardless of size, fuels our future.
Your critical contribution enables us to maintain our independence from shareholders or wealthy owners, allowing us to keep up reporting without bias. It means we can continue to make Jewish Business News available to everyone.
You can support us for as little as $1 via PayPal at office@jewishbusinessnews.com.
Thank you.

New York Attorney General Eric Schneiderman’s office wrote letters to both DraftKings and New York-based FanDuel yesterday, demanding they “cease and desist from illegally accepting wagers in New York State in connection with Daily Fantasy Sports.”

The cease-and-desist letters said the games, which allow players to win money based on fantasy sports teams they assemble, are “contests of chance, ” which “constitute illegal gambling under New York law.”

“DFS contests are neither harmless nor victimless, ” both letters state. “Daily Fantasy Sports are creating the same public health and economic concerns as other forms of gambling, including addiction.”

Read the full story at Boston Herald, by Bob McGovern

 

DraftKings is a Boston, MA, daily fantasy sports contest provider. DraftKings was established in 2012 by Jason Robins, Matthew Kalish, and Paul Liberman, former VistaPrint executives.

 

Newsletter



Advertisement

You May Also Like

World News

In the 15th Nov 2015 edition of Israel’s good news, the highlights include:   ·         A new Israeli treatment brings hope to relapsed leukemia...

Entertainment

The Movie The Professional is what made Natalie Portman a Lolita.

Travel

After two decades without a rating system in Israel, at the end of 2012 an international tender for hotel rating was published.  Invited to place bids...

VC, Investments

You may not become a millionaire, but there is a lot to learn from George Soros.