Category Archives: daily fantasy sports

Fantasy sports bill passes Alabama House in narrow vote


The Alabama House has spoken: fantasy sports is a battle of wits and smarts.

Fantasy sports bill sails through Alabama House in a narrow voteBirmingham Business Journal reported that the Alabama House of Representatives has approved a bill that will legalize and regulate fantasy sports betting in the state in a close vote.

Voting 43-38, the House declared that fantasy sports is not dolled-up digital gambling that deserves to be banned. Instead, they recognized that fantasy sport is a game of skills deserved to be played in the state. With the House approval, the bill now moves on to the Senate.

There are at least three bills that have been introduced in Alabama including HB354 aka the Fantasy Sports Act.

The proposed legislation, which was sponsored by Rep. Alan Boothe, would require a fantasy sports operator with more than 5,000 active player accounts to pay an initial registration fee of $85,000, while an operator with fewer than 5,000 active participants would pay an initial $10,000.

A fantasy contest that has not previously operated in Alabama would pay a $5,000 fee.

The measure also said that the taxes to be imposed on fantasy sports operators’ gross revenues is similar to that in Tennessee and the one that has been proposed in Georgia.

House members are reportedly eyeing to impose at least 6 percent tax on fantasy sports revenues for the preceding 12 months. They project that an additional $216,000 will flow through the state’s General Fund if fantasy sports is legalized in the state.

However, it took the members of the House nearly two hours to narrowly pass the bill. According to the report, legislators debated one whether daily fantasy games were primarily skill- or luck-based.

There are at least 11 US states that have legalized DFS at present: Colorado, Indiana, Kansas, Maryland, Massachusetts, Mississippi, Missouri, New York, Tennessee, Virginia, and, most recently, Arkansas.

But as the legal battle for the legalization of DFS across the United States wages on, the Fantasy Sports Trade Association lamented that more than two-thirds of fantasy sports firms have closed, merged or changed focus.

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Uk greenlights Yahoo’s DFS procedure


Yahoo is eventually obtaining a slice of Uk day by day fantasy industry pie that has been shared by rivals DraftKings and FanDuel.

UK greenlights Yahoo's UK operationAccording to Authorized Athletics Report, the Uk Gambling Fee has granted the license of Yahoo, generating it the 3rd DFS operator to lawfully give their products and solutions in Uk. Right before obtaining the license in Uk, Yahoo DFS was readily available to players in significantly of the US and Canada.

But the news about the approval of Yahoo’s license broke out by using Twitter by a DFS enthusiast with twitter manage @Bigo1. The news website verified the information but it declined to make other reviews.

The report experienced it that Yahoo, which will give soccer contests, will localize forex with British lbs. Uk players will also love contests readily available to Americans and Canadians, with liquidity shared universally.

Yahoo’s license may possibly be viewed on the Uk Gambling Fee website.

Early this calendar year, the Uk gambling fee has awarded DFS giants DraftKings and FanDuel with licenses to run in the nation. The launches of the two DFS leaders, having said that, were being not accompanied by buyer acquisition efforts.

Past thirty day period, DraftKings and FanDuel verified they would join forces someday in the latter 50 % of 2017. Financial facts weren’t disclosed, but the corporations expect to comprehend “operational efficiencies and cost savings” that will “help the mixed enterprise accelerate its path to profitability.”

Yahoo, on the other hand, remains a crystal clear No. 3 in the DFS industry. It, having said that, is mild-several years absent to overtake DraftKings and FanDuel.

The report explained UK’s decision to grant a license to Yahoo as an “interesting development” since it retains a gambling license in any jurisdiction even if it is not section of the on line casino field. It also pointed out that the granting of the license arrives following day by day fantasy soccer web site Mondogoal closes its customer-facing item. Mondogoal once was a companion with Yahoo.

Mondogoal, World wide Every day Fantasy Athletics, and some other vendors see the long term of DFS in the Uk and further than as a business enterprise-to-business enterprise proposition, in accordance to the report. They envision their DFS platforms becoming deployed by using already established on the internet sportsbooks. Mondogoal is already accomplishing just that with vendors in Italy.

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Federal decide tosses Draftkings’ petition again to Tennessee courtroom


July 19, 2016

Federal judge tosses Draftkings’ petition back to Tennessee court

A federal decide has thumbed down the request of daily fantasy sporting activities (DFS) provider DraftKings to listen to the lawsuit filed by a wife of a gambler who has dropped about $forty,000.

Federal judge tosses Draftkings’ petition back to Tennessee courtDecide Harry S. Mattice has remanded the situation of Erica Miller towards DraftKings to the Chancery Courtroom of Greene County, Tennessee. In accordance to gambling news website Lawful Sports activities Report, Mattice’s determination represents one particular of the initially formal rulings towards the DFS provider.

In his June thirty, 2016 determination, Decide Mattice pressured that the DFS operator failed to encourage him that the situation must be tried using in a federal courtroom supplied the simple fact that the total involved in the lawsuit exceeds $75,000.

By rule, federal courts only listen to instances really worth $75,000 or more. Smaller sized instances continue to be with condition-stage courts.

“In quick, Defendant has failed to encourage the Courtroom that punitive damages must be bundled in its total-in-controversy examination due to the fact Defendant has made available nothing at all more than speculation that Plaintiff may possibly seek out this kind of aid,” the determination, which was posted on the news website’s web page, go through.

Data demonstrate that the lawsuit towards Draftkings stemmed from Miller’s grievance that the DFS provider operated “a daily and weekly fantasy sporting activities website that quantities to an illegal gambling enterprise and/or lottery” less than Tennessee condition legislation.

As a result, her spouse allegedly dropped a significant total of dollars to Draftkings.

In her petition dated April one, 2016, Miller is in search of the Tennessee courtroom to get Draftkings to spend her $forty six,four hundred really worth of damages. DraftKings, for its component, elevated the situation to the federal courtroom as it believes that the dollars involved in the lawsuit will access more than $75,000 for compensatory and punitive damages.

The DFS provider claimed that Miller’s initial settlement give is solid evidence that the total in controversy exceeds $75,000.00. While Plaintiff promises that this lawsuit is only really worth $forty six,440.00, Plaintiff made available to settle this situation for $74,000.00.

Decide Mattice disagreed with just about every of DraftKings’ promises and dominated that the situation must be “remanded” to Tennessee condition courtroom wherever it was to begin with filed.

“Third, Defendant argues that “[n]othing in [Plaintiff’s] grievance particularly disclaims in search of punitive damages or attorneys’ charges, nor has she filed any stipulation to that effect.” (Doc. 19 at 14). This argument ignores the relevant typical. It is very well recognized that it is Defendant’s stress to demonstrate by a preponderance of the evidence that removing was proper. Hayes, 266 F.3d at 572. Absent controlling authority to the contrary, the Courtroom refuses to hold that Plaintiff’s failure to stipulate that damages do not exceed $75,000.00 establishes federal issue make a difference jurisdiction,” the Decide explained.



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Delaware DOJ tells day by day fantasy sporting activities operators to halt authentic-income contests


July 8, 2016

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delaware-daily-fantasy-sports-real-money-contestsDelaware has questioned day by day fantasy sporting activities operators to cease giving authentic-income contests in the condition after legislators failed to amend legal guidelines to explicitly authorize the exercise.

On Friday, the Delaware Division of Justice introduced that it experienced sent letters to DraftKings, FanDuel and Yahoo informing them that their authentic-income DFS contests “are not permitted underneath Delaware law” and inquiring the operators to add Delaware to their listing of no-go states.

The DOJ suggests it notified condition regulators in March that DFS was illegal gambling for the reason that “chance, as opposed to skill, is the dominant factor in the result of these contests.” Delaware regulation prohibits all gambling apart from “lotteries underneath State management,” and the DOJ suggests the condition has no management in excess of DFS exercise.

The DOJ thinks probability is the dominant factor in DFS contests for the reason that while a contestant could decide on unique athletes, he or she “has no job in how these gamers truly perform.” The DOJ statements that “the most experienced contributors may drop and significantly less experienced contributors may win” for the reason that “real-lifestyle gamers are human and human behavior is unpredictable.”

The DOJ reported regulators experienced relayed the DOJ’s authorized situation to operators but the DOJ refrained from getting more action for the reason that “certain on the net fantasy sporting activities companies” claimed that Delaware was on the cusp of amending its legal guidelines to allow DFS. However, the DOJ noted that the Delaware General Assembly’s newest session expired on June thirty with no action taken on DFS, and in this article we are.

The DOJ acknowledged that legions of Delaware residents take pleasure in DFS and it has no ideas to block contests that do not have to have an entry payment. But right up until the condition legislature okays authentic-income engage in, “the Division of Justice need to implement the regulation.”

None of the named DFS operators have so considerably seen in good shape to comment publicly on the DOJ’s letter. The operators have historically honored these kinds of requests in states with tiny populations, while disregarding identical appeals from greater states that would have a extra substantial impact on the base line.



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Reviews: day by day fantasy sports leaders DraftKings, FanDuel talking merger


June 13, 2016

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draftkings-fanduel-merger-daily-fantasy-sportsEach day fantasy sports operators DraftKings and FanDuel are thinking of a merger, according to many media reviews.

On Monday, Bloomberg reported that the two DFS operators were in talks about fusing the two organizations. When traders in the two organizations are reportedly urgent for a offer, Bloomberg’s sources provided the regular caveats that there was no assurance that a offer would be arrived at.

In the meantime, Reuters reported that the ‘merger’ was much more possible to be a case of FanDuel buying DraftKings. Irrespective of how it is structured, these a merger would possible raise important anti-trust troubles, offered the stranglehold that the two operators have on the US fantasy market.

DraftKings CEO Jason Robins has on many situations publicly said that a merger would be of benefit to the two organizations, which have been challenging hit by regulatory crackdowns considering that past fall’s ‘data leak’ scandal introduced the DFS business into the crosshairs of point out attorneys’ standard.

But as lately as past November, FanDuel CEO Nigel Eccles had poured cold water on the prospect of a merger, arguing that he could comprehend why Robins may seek out these a offer but Eccles didn’t se “why [DraftKings] assume it would be attractive for us.”

Having said that, the regulatory scrutiny and the huge authorized and lobbying service fees involved in defending DFS in 50 distinct states lately led FanDuel’s auditors to specific “significant doubt” above the company’s future if much more US states closed their doors to DFS operators.

For case in point, New York continues to be a critical source of profits for the two DFS operators but except if point out legislators can move DFS-friendly laws this 7 days, the two DraftKings and FanDuel are on the lookout at getting into the coming NFL time with no entry to the market.

Becoming a member of forces would permit the organizations to share their authorized/lobbying stress, as well as stop a further preposterous advertising war on the scale that the two firms waged past fall in a bid to earn market share (at the expense of profitability).



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