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New York DFS Cease and Desist

New York DFS Cease and Desist
DAILY FANTASY RUNDOWN
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New York DFS Cease and Desist

Nando Di Fino and Tony Cincotta break down news that New York State Attorney General, Eric Schneiderman has issued a cease and desist notice to FanDuel and DraftKings. They discuss the legal repercussions as well as possible outcomes for the daily community in New York State.

DraftKings Cease and Desist Letter

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FanDuel Cease and Desist Letter

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7 Comments

  1. bwatkin79

    November 11, 2015 at 9:35 am

    Why don\’t the fantasy pros go demonstrate for these lawmakers the skill involved in making lineup selections? They don\’t seem to understand that blindly picking lineups is not using a skill. There should be enough pros out there to show them that cashing regularly is possible when a fantasy player knows what he is doing. Demonstrating that you need to do it full-time would probably not be something to point out though.

    • xxrdotxx

      November 11, 2015 at 11:27 am

      they are making too much money, they want to dip their greasy hands into the pot. This is all there is to it.

  2. bwatkin79

    November 11, 2015 at 9:38 am

    Also, Jeb is right. Daily fantasy is no different than day trading. There is absolutely just as much luck involved in stock picking as there is in fantasy sports. If fantasy sports are considered gambling since too much luck is involved, then the fantasy sports industry should push for stock trading to be considered illegal as well. Analyzing financial reports for a good investment is the equivalent of reviewing stats and player reports for a good lineup selection.

    • xxrdotxx

      November 11, 2015 at 11:29 am

      This is so true… Never thought of it in that particular light.

    • bwatkin79

      November 11, 2015 at 11:58 am

      I couldn\’t see the Cease and Desist letter before, so I don\’t know if it was posted or not.

      Anyway, after reading the letter, stock trading is considered gambling as well. Under NY law, “a person engages in gambling when he stakes or risks something of value upon the outcome of a contest of chance or a future contingent event not under his control or influence.” By their own definition, this would include stock trading. Daily Fantasy Sites should insist that if DFS is illegal, than stock trading should be considered illegal and banned as well. See ya later Wall Street!

  3. Lu

    November 11, 2015 at 11:13 am

    Agree, bwatkin79.

  4. xxrdotxx

    November 11, 2015 at 11:35 am

    So lets say Fanduel and Draftkings didn\’t profit from people placing a dfs lineup and only received profit from advertisers due to the traffic that flows thru their websites would it be ok then?

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