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David Baazov, the president, CEO, and board chairman of Amaya Inc., the parent company of PokerStars, has charged by Quebec’s Autorité des marchés financiers (the “AMF”) with five securities fraud charges related to Amaya’s acquisition of PokerStars parent company, Rational Group, in June 2014. The AMF began its investigation in late 2014, an investigation which… Read more »
On Monday, DraftKings, FanDuel, and the New York State Office of the Attorney General announced that they have reached a settlement in the legal battle over daily fantasy sports (DFS) in the Empire State. In exchange for the two DFS leaders withdrawing from the New York market until at least September, NY AG Eric Scheiderman… Read more »
There are thousands of you out there in the interwebaverse who get tucked into bed every night, cozy and content in the knowledge the Full Tilt funds you once had frozen after Black Friday are now safe and sound in your bank account (until an international hacking syndicate takes down the U.S. banking system, resulting… Read more »
A ridiculously trivial legal case hit another milestone last week as the Amsterdam Court of Appeal ruled against two café owners who were arrested back in 2007 (yes, we’re going back almost a decade) for running a €10 re-buy poker tournament at their establishment. Richard Blaas and Rene Kurver owned the Amsterdam’s Café de Viersprong… Read more »
The Georgia Attorney General’s office has determined that daily fantasy sports (DFS) are illegal in the state, that according to a letter from Deputy Attorney General W. Wright Banks, Jr. to Georgia Lottery Corporation Senior Vice-President and General Counsel Joseph Kim on Friday. Kim had previously requested clarification of Georgia gambling law, asking if DFS… Read more »
On Friday, February 5th, sports fans in the United Kingdom joined those in the United States and Canada in having access to daily fantasy sports (DFS) leader DraftKings. DraftKings originally applied for a gambling license back in June 2015 and was awarded the license in August. At the time, the company said that it anticipated… Read more »
The Los Angeles Times is fully aboard the online gambling train, publishing an editorial Saturday in which the Times Editorial Board calls for the regulation and licensing of all internet gaming sites. Daily fantasy sports are the hot topic nowadays in the online gambling (or skill game, depending on your position) arena and several state… Read more »
Texas Attorney General Ken Paxton issued a written opinion Tuesday, declaring daily fantasy sports (DFS) to be illegal under current state law. The two leading DFS sites, DraftKings and FanDuel, have both issued statements disagreeing with Paxton, but it does not appear that either intends on withdrawing from the state any time soon. It does… Read more »
Daily fantasy sports (DFS) leaders DraftKings and FanDuel can continue to operate in the state of New York for at least half a year, as a four-judge state appellate panel issued a permanent stay Monday against an injunction issued against the sites. That injunction was levied a month ago by New York Supreme Court Judge… Read more »
It looks like New York Attorney General Eric Schneiderman has three-bet daily fantasy sports (DFS) leaders DraftKings and FanDuel and is putting their tournament lives at risk. Less than two months after filing numerous complaints against the two companies, including charges of illegal gambling and advertising fraud, the AG has amended the complaint in an… Read more »
It looks like the Massachusetts State Lottery Commission (MSLC) may be taking the “if you can’t be ‘em, join ‘em” stance when it comes to online gaming. In late December, the MSLC issued a Request for Information (RFI), inviting (preferably) qualified companies to submit proposals with ideas for how the Lottery can increase its presence… Read more »
Last Wednesday, Illinois Attorney General Lisa Madigan proclaimed that daily fantasy sports (DFS) are illegal under current state law and while she did not take immediate action against any sites, namely DFS industry leaders DraftKings and FanDuel, she did tell them that she expected them to leave the market posthaste. Both sites announced their intentions… Read more »
DraftKings and FanDuel refuse to go gently into that good night. After Illinois Attorney General Lisa Madigan ruled that daily fantasy sports (DFS) equated to illegal gambling under state law, the two DFS industry leaders are gearing up for a fight, rather than withdrawing from the market. Madigan cited a fairly simple-looking section of the… Read more »
Illinois Attorney General Lisa Madigan ruled Wednesday that daily fantasy sports are illegal gambling under current Illinois state law. She did not go so far as to order DFS sites out of the site as New York Attorney General Eric Schneiderman did, but one could probably assume that she would recommend that course of action.… Read more »
Completing a long process, the New York Gaming Commission finally handed out three casino licenses Monday, marking the next milestone in the expansion of land-based gambling in the Empire State. The commercial casinos were authorized by a bill back in 2012, but it took until a year ago for three casinos to finally receive approval.… Read more »
Paysafe Group Plc, parent of e-wallets NETeller and Skrill, has acknowledged that millions of customers had their personal information put at risk during two hacking events in 2009 and 2010. The admission of the hacking comes about a month after the initial revelation of the data breach. A total of 7.8 million Paysafe customers had… Read more »
They say the value of something is whatever someone else is willing to pay for it. All it takes is one person to REALLY want something for the price to skyrocket (well, maybe two people, as only a fool would bid against himself). So when you think of the kitchy dogs playing poker paintings, don’t… Read more »
A British teenager received a minimal punishment for bringing down an online gambling site, though he was also given a stern tongue-lashing from the judge. In early 2014, Max Whitehouse, then 17-years old, initiated a Distributed Denial of Service (DDoS) attack against a European online gambling site. The Nottingham teen created problems for the UK-facing… Read more »
Daily fantasy sports are fun, but the industry in the United States is quickly turning into a mess. Sites are being forced out of individual states, class action lawsuits are being filed, and major sites are being investigated for the legality or potential lack thereof. And now one of the two leading DFS sites is… Read more »
The Athens Banner-Herald reported Monday that Georgia Attorney General Sam Olens said that his office is embarking upon an investigation to determine if daily fantasy sports violate state law. Unlike in New York, it does not sound like Olens is on a crusade to rid his state of the pastime, though only time will tell… Read more »
Daily fantasy sports (DFS) leader FanDuel has decided to exit the New York market, at least temporarily. The move comes a week after New York Attorney General Eric Schneiderman sent FanDuel, based in New York, and DraftKings, based in Boston, cease and desist letters, saying that they were engaging in illegal gambling. The two daily… Read more »
It what should not come as much of a surprise, a New York judge has denied the temporary restraining order daily fantasy sports (DFS) companies FanDuel and DraftKings filed against New York Attorney General Eric Schneiderman. The motions were filed Monday morning and by Monday night, New York Supreme Court Justice Manuel Mendez had shot… Read more »
New York Attorney General Eric Scheiderman announced today that daily fantasy sports (DFS) contests constitute gambling and as such, are illegal in the state. To that end, he has sent a “cease and desist” letter to market leaders DraftKings and FanDuel, telling them that they must stop accepting action from New York players. In a… Read more »
One would not normally consider the day one is handed down a sentence for a crime to be a good one, but for Bryan Micon, it may actually be welcome, as it might allow him to start bringing closure to what has been a tough year. The SealswithClubs founder, who was charged with the illegal… Read more »
The lawsuits keep piling up against daily fantasy sports sites. The latest actually comes from someone who has indirectly benefited from fantasy football, Washington Redskins wide receiver Pierre Garcon. First reported by The Washington Post, Garcon filed a class-action lawsuit against DFS site FanDuel on Friday on behalf of all NFL players. One may wonder… Read more »
