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Microcap & Penny Stocks : Stateside's Canadian Microcap Board

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From: kidl11/11/2015 10:06:50 AM
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Hopefully no one around here is getting hurt ...

NY dubs daily fantasy games as illegal gambling

Nov 11 2015, 03:33 ET | By: Yoel Minkoff, SA News Editor

So what is it? A skill game? Gambling? NY Attorney General Eric Schneiderman has defined daily fantasy sports as illegal gambling under state law, saying that "winning or losing depends on numerous elements of chance to a material degree."

The ruling means that DraftKings and FanDuel, the biggest daily fantasy sites, will have to stop accepting bets from New Yorkers.

If public officials in other states agree, it could be the end of the daily fantasy sports industry in the U.S.

Previously: Nevada terms daily fantasy sports gambling, bans operations in state (Oct. 15 2015)

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