Friday, October 16, 2015

Nevada Bans DraftKings, FanDuel as Unlicensed Gambling | Re/code

When fantasy meets reality

"The Nevada Gaming Control Board, after conducting an analysis of daily fantasy sports with the state’s attorney general, has ruled that playing on DraftKings and FanDuel is the same as gambling. And because you need a license to be a gambling operator in Nevada (which DraftKings and FanDuel don’t have), the services are illegal there.

It has been a rough couple of weeks for the two companies. On Oct. 5, a big New York Times story revealed an insider trading-type scandal in which DraftKings and FanDuel employees with access to proprietary information were making serious money from playing daily fantasy games. The next day, the New York attorney general’s office said it was opening an inquiry into daily fantasy. Both companies denied any wrongdoing, and FanDuel hired former Bush administration attorney general Michael Mukasey to conduct an internal review. The FBI is also investigating daily fantasy, although the agency is reportedly focusing on DraftKings."
Nevada Bans DraftKings, FanDuel as Unlicensed Gambling | Re/code
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