A Quote by Eric Schneiderman
Our investigation has found that, unlike traditional fantasy sports, daily fantasy sports companies are engaged in illegal gambling under New York law, causing the same kinds of social and economic harms as other forms of illegal gambling and misleading New York consumers.
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Daily fantasy sports operators claim that they operate legally under Alabama law. However, paid daily fantasy sports contests are, in fact, illegal gambling under Alabama law.
Unlike most traditional, season-long fantasy sports sites, which make most of their money from administrative fees and advertising, FanDuel and DraftKings take a cut of every bet. That is what bookies do, and it is illegal in New York.
Our review concludes that DraftKings'/FanDuel's operations constitute illegal gambling under New York law.
Daily fantasy sports is much closer to online poker than it is to traditional fantasy sports.
While gambling addiction can be a social justice reason for some to ban gambling, the economic evidence suggests that the social and economic costs of gambling are $3 to the taxpayers for every $1 in benefits
The 'New York Daily News' called me the most reviled athlete ever in sports history in New York. I don't listen to them.
Like other forms of gambling, wagering on the Internet isn't illegal because it's bad. It's bad because we've chosen to make it illegal.
The 2006 federal Internet gaming statute is not ambiguous. It does not prohibit gambling on fantasy sports.
While, to me, daily fantasy is in no way sports betting, it's certainly a cousin of sports betting in that it attracts many of the same type of people who would otherwise choose to bet on sports.
Games of chance often involve some amount of skill; this does not make them legal. Good poker players often beat novices. But poker is still gambling, and running a poker room - or online casino - is illegal in New York.
Daily fantasy sports is neither victimless nor harmless, and it is clear that DraftKings and FanDuel are the leaders of a massive, multi-billion-dollar scheme intended to evade the law and fleece sports fans across the country.
Fraud is fraud. And consumers of any product - whether you want to buy a car, participate in fantasy football - our laws are very strong in New York and other states that you can't commit fraud.
Broadway shows in New York draw two times the attendance of all New York sports teams put together.
Since fantasy isn't about technology, the accelleration has no impact at all. But it's changed the lives of fantasy writers and editors. I get to live in England and work for a New York publisher!
In convenience gambling scenarios, discretionary spending and nondiscretionary addicted gambling dollars were transferred from other forms of consumer expenditures
While advocates of legalized gambling say it brings in revenues needed for education and other uses, it actually has led to higher taxes, loss of jobs, economic disruption of non-gambling businesses, increased crime and higher social-welfare costs
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