New York legislature passes bill legalizing daily fantasy

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Last year, the DraftKings/FanDuel cola war sparked an assault on the daily fantasy industry, with New York becoming the most significant battleground. With the state’s Attorney General arguing aggressively that current laws prohibit it, the Coke and Pepsi of DFS embarked on an effort to change the current laws.

On Friday, the effort struck gold, with both houses of the New York legislature passing a bill that, if signed into law by Governor Andrew Cuomo, would make daily fantasy legal in the Empire State.

Via the New York Daily News, a Cuomo spokesman said the bill, which defines DFS as a game of skill not chance, is “under review.”

The entire industry, which emerged as an under-the-radar byproduct of the 2006 federal law that made online gambling illegal, seemed to badly misjudge the laws of the 50 states in which it does business. But for a crush of advertisements and ESPN sponsored segments that annoyed and alienated many, the industry may have never become a target for widespread opposition.

Wisely, DraftKings and FanDuel has lowered their profile while getting the legalities in order. If/when Cuomo puts his Hancock on the bill, the tide may begin to turn nationally for a business model that some thought was destined to implode.

37 responses to “New York legislature passes bill legalizing daily fantasy

  1. It is so ironic that the state that hosts the biggest gamblers in the world (NYSE, bond market, hedge funds), would oppose statistically-based predictions on groups of individual performers. What the heck did they think their mutual funds were made of? Magic beans and ponies?

    Only a rube would think this is any more dangerous than day trading, penny stocks, junk bonds, etc.

  2. Last year when you would watch a NFL game there was about two minutes of DFS commercials for every one minute of action… they definitely overdid it. I still hope DFS tanks just because they practically ruined the 2015 NFL season.

  3. Like everything today, it’s a game of skill. Fantasy football, video games, hoola-hoops. I think the Olympic Competition Committee should make it an eligible sport. I went to the grocery store the other day and had to push one of those carts with a wobbley wheel around for 30 minutes. Now that’s a game of skill. Where’s my trophy?

  4. The be apart of daily fantasy is that all the sports talk hosts can bore us with their awesome lineups very day.

  5. And, let’s get some sports books out there while were at it. Oh, Nevermind. The Shield won’t get there cut that way.

  6. Game of skill huh? Come on, DFS is gambling. I’m not opposed to gambling, but I am opposed to special deals like this. Either make it all legal or illegal.

  7. And thus ends the most petty ridiculous court battle and pointless waste of legislative efforts in recent memory.

    Yes, more so than Deflategate.

  8. Legislation of daily fantasy, extra tax on soda, just creative ways to legally steal brought to us by our friendly and trustworthy politicians.

  9. Whatever the motivation, it was the right thing to do. All gambling should be legal and regulated, skill or chance.

    It’s not the government’s job to protect you from yourself. If you can’t handle it, get help. There are lots of things that screw up your life just as badly that are perfectly legal.

    And to those who think it will grow organized crime, use your head. OC is involved in gambling BECAUSE it’s illegal, not the other way around.

  10. Anyone who can demonstrate a viable heartbeat can buy an assault rifle at any time of day in Arizona. But if you wanna play a dopey $1 dfs game, not happening. Gotta love right wing logic

  11. justintuckrule says:

    Anyone who can demonstrate a viable heartbeat can buy an assault rifle at any time of day in Arizona. But if you wanna play a dopey $1 dfs game, not happening. Gotta love right wing logic
    ===================================

    Gambling isn’t a constitutional right, stud.

  12. It is a game of chance. There is a very good chance you lose all your money. But then I guess it does take a certain amount of skill to give away money.

  13. abninf says:
    Jun 18, 2016 1:23 PM
    justintuckrule says:

    Anyone who can demonstrate a viable heartbeat can buy an assault rifle at any time of day in Arizona. But if you wanna play a dopey $1 dfs game, not happening. Gotta love right wing logic
    ===================================

    Gambling isn’t a constitutional right, stud.
    ===================================

    Buying any kind of gun you want isn’t a constitutional right, stud. That’s why there are federal limitations on fully-automatic machine guns, boy. Personally, I’m against allowing the mouth breathers telling the rest of us what to do with our money.

  14. In case you are wondering, it looks like NY get 15% of gross profits plus 50000. There are other regulations as well such as informing players of who the “experienced” players are and the banning of bots to play a ton of games at once.

  15. jasons81 says:
    Jun 18, 2016 10:16 AM

    Last year when you would watch a NFL game there was about two minutes of DFS commercials for every one minute of action… they definitely overdid it. I still hope DFS tanks just because they practically ruined the 2015 NFL season
    ——————————————————-
    That is because a number of owners, like Jerry Jones helf financial stakes in the company(or companies)

  16. Tv ads are a necessary evil but those fan duel and draft kings ads were over kill. Even worse than the irritable bowel syndrome or cialis ads.

  17. If they legalize it in New York. Will they segregate the players from the rest of the country if they do that then New York won’t be able to reap the millions in taxes that they hope by passing this.

  18. Pro tip: fantasy football (not gambling) is more enjoyable while under the influence of medical marijuana (not a recreational drug) to treat your fantasy arthritis. Got it?

  19. Makes ya feel good to know that with enough money, you can get whatever you want in this country. For the people, by the people.

  20. So they cut back on advertising and redirected their money hose towards the legislature for a while. If a law inconveniences you and you’ve got the dough, just buy a new law. It’s How Politics (Actually) Works 101.

  21. My favorite thing to do in DFS is pick as many players I can that I’m playing against in my seasonal league each week. Gonna get a W one way or another haha

  22. I doubt Cuomo is signing that bill. Too many people think it is gambling whether it is or not. Not a good look for a politician.

  23. It’s not g
    It’s not your right to tell me or anyone else what to do! Also, this is bull crap because yahoo’s dfs has been up and running the entire time this has been happening! Shakedown creeps & greedy idiots rule the world!

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