This afternoon, the NBA announced that they have entered into a 3-year partnership worth more than $25 million with MGM Resorts International. This deal makes the NBA the first major sports league to set up an exclusive gambling partnership. However, what do these partnerships mean for competitors, like FanDuel and DraftKings? The NBA deal with…
Category: Daily Fantasy Sports
Maine Legalizes (and Regulates) Daily Fantasy Sports
Good news for all fantasy sports participants in the Northeast. Maine has become the fifteenth state to legalize daily fantasy sports betting, joining New Hampshire, Vermont, and Delaware who all have legalized it since June. The spokesperson for DraftKings and FanDuel said, “Maine is now the 15th state to adopt a regulatory framework to protect the…
Merger of DraftKings & FanDuel Unlikely to Survive
Now that DraftKings and FanDuel have announced their merger intentions I am going to tell you why it is likely to be blocked. Under the Hart-Scott Rodino Antitrust Improvements Act of 1976, antitrust regulators from the Department of Justice and Federal Trade Commission now have the opportunity to review the merger and its effect on…
FanDuel and DraftKings Must Overcome New Hurdles in New York
Eric, Schneiderman, State Attorney of New York, has officially sued FanDuel and DraftKings, two fantasy sports websites for avoiding the New York Tax on gambling. FanDuel and DraftKings are both moderately new internet sites that allow participants to create a roster based on “skill” and modify this roster on a weekly, or daily basis. Of…
Legal Pressure Differentiates DraftKings and FanDuel
Although many think that Daily Fantasy Sport (DFS) leagues are the same, the way DraftKings and FanDuel have tackled recent legal concerns illustrates just how different two leagues can be. Recently, the New York Attorney General issued cease and desist orders to both companies, despite DFS gaining support from investors. Specifically, the orders allege that the DFS leagues are in…
Fantasy “Gambling” Headed for the Bench?
This past Tuesday, the New York Attorney General issued cease and desist letters to both FanDuel and DraftKings in an effort to stop the popular daily fantasy sports websites within the state. The AG referred to the sites as “no different than Las Vegas bookies.” Last Monday, Fan Duel and Draft Kings filed temporary restraining orders to…
Daily Fantasy Sports Gain Support Even With Questions Looming
Yesterday two of the biggest names in the NFL defended Daily Fantasy Sports (DFS), Jerry Jones, the owner of the Dallas Cowboys, and Robert Kraft, the owner of The Kraft Group and the New England Patriots. While NFL teams are not allowed to individually invest in DFS the owner groups can, and these two have…
From The Legal Field 