ALBANY, NY - Fan Duel and Draft Kings are having a hard time beating the odds in the Big Apple. Betting is off for the fantasy leagues. New York’s Attorney General, Eric Schneiderman, tells the fantasy sites,“Not on my watch.”
Schneiderman has ordered Fan Duel and Draft Kings to cease and desist all wagers from New York residents saying the sites constitute illegal gambling under New York state law. This comes only a month after Nevada regulators ruled daily fantasy sports as gambling and therefore require a gaming license to operate.
Draft Kings says more than 500,000 daily fantasy users live in New York and the betting ban is a major hit to the multi million-dollar industry. Draft Kings and Fan Duel contend their games are not gambling since they`re more skill than luck. That means the 2006 federal law exempting fantasy sports as online wagering legally sanctions them.
The two companies plan to challenge the order in court with hopes that lady luck is on their side. Cause we all know, the house always wins.