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New York Governor signs bill to allow daily fantasy sports

Online GamblingOnline Gambling: New York Governor signs bill to allow daily fantasy sports
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ALBANY, N.Y. — Gov. Andrew Cuomo signed a bill into law Wednesday to allow the resumption of daily fantasy sports in New York.

The measure calls the popular online contests a "game of skill." That legal definition resolves the central argument in a lawsuit brought against the country's two top fantasy-sports companies by the state attorney general. He had likened the online matches to illegal gambling operations based on chance.

"This legislation strikes the right balance that allows this activity to continue with oversight from state regulators, new consumer protections and more funding for education," Mr. Cuomo said.

The state Gaming Commission planned to post on its website Wednesday instructions for operators of the games to obtain temporary registrations.

The law requires they pay an annual fee of as much as $50,000 with a 15% tax on their revenue. It also bars anyone younger than 18 years old from playing, and it prohibits college and high school sports.

In the games, players assemble a roster of athletes in a sport, using the individuals' actual performance statistics to determine the winner. They pay entry fees and win prizes for outperforming other contestants' rosters.

In March, New York-based FanDuel Inc. and Boston's DraftKings agreed to stop operations in New York pending the passage of a law that would resolve the ambiguity.

But under the stipulation with Attorney General Eric Schneiderman, they couldn't start operating again until Mr. Cuomo signed the bill into law.

Mr. Schneiderman said he would enforce the new law. The amended lawsuit will continue against DraftKings and FanDuel alleging consumer fraud and false advertising for prior operations in New York, he said.

FanDuel chief executive Nigel Eccles said that since January, seven other states — Colorado, Indiana, Massachusetts, Mississippi, Missouri, Tennessee and Virginia — also have passed laws clarifying the legality of fantasy sports and setting consumer-protection regulations. He thanked New York lawmakers and the governor "on behalf of more than three million fantasy players across the state."

Jason Robins, chief executive of DraftKings, said his company is excited to have its contests returning to New York and want to thank the "hundreds of thousands of New York supporters for their passion and loyalty over the past several months."

Neither company commented on the lawsuit.

AP

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7 comments. Last comment 4 months ago by Tatototman65.
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NEW YORK
United States
Member #90535
April 29, 2010
11978 Posts
Offline
Posted: August 4, 2016, 10:09 am - IP Logged

Gov. Andrew Cuomo signed a bill into law Wednesday to allow the resumption of daily fantasy sports in New York.

The measure calls the popular online contests a "game of skill." That legal definition resolves the central argument in a lawsuit brought against the country's two top fantasy-sports companies by the state attorney general. He had likened the online matches to illegal gambling operations based on chance.

"This legislation strikes the right balance that allows this activity to continue with oversight from state regulators, new consumer protections and more funding for education," Mr. Cuomo said.

The state Gaming Commission planned to post on its website Wednesday instructions for operators of the games to obtain temporary registrations.

The law requires they pay an annual fee of as much as $50,000 with a 15% tax on their revenue. It also bars anyone younger than 18 years old from playing, and it prohibits college and high school sports.

In the games, players assemble a roster of athletes in a sport, using the individuals' actual performance statistics to determine the winner. They pay entry fees and win prizes for outperforming other contestants' rosters.

In March, New York-based FanDuel Inc. and Boston's DraftKings agreed to stop operations in New York pending the passage of a law that would resolve the ambiguity.

But under the stipulation with Attorney General Eric Schneiderman, they couldn't start operating again until Mr. Cuomo signed the bill into law.

Mr. Schneiderman said he would enforce the new law. The amended lawsuit will continue against DraftKings and FanDuel alleging consumer fraud and false advertising for prior operations in New York, he said.

FanDuel chief executive Nigel Eccles said that since January, seven other states — Colorado, Indiana, Massachusetts, Mississippi, Missouri, Tennessee and Virginia — also have passed laws clarifying the legality of fantasy sports and setting consumer-protection regulations. He thanked New York lawmakers and the governor "on behalf of more than three million fantasy players across the state."

Jason Robins, chief executive of DraftKings, said his company is excited to have its contests returning to New York and want to thank the "hundreds of thousands of New York supporters for their passion and loyalty over the past several months."

Neither company commented on the lawsuit.

NEW YORK STATE ALLOWS ONLINE GAMBLING ON SPORTS, BUT NOT ON LOTTERY GAMES?

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PLAY THE LOTTERY SOMEDAY-IT IS OKAY TO DREAM!

    dpoly1's avatar - driver
    PA
    United States
    Member #66141
    October 16, 2008
    1672 Posts
    Offline
    Posted: August 4, 2016, 10:36 am - IP Logged

    No Pity!

    So nice of Government to give New Yorker's permission to do something

    dpoly1 - Playing the lottery to save the jobs of those that build, transport, sell & maintain luxury items! -

     

    Eschew Poverty ........... Vote Conservative!

      Raven62's avatar - binary
      New Jersey
      United States
      Member #17843
      June 28, 2005
      49699 Posts
      Offline
      Posted: August 4, 2016, 1:51 pm - IP Logged

      Back To: Business As Usual!

      A mind once stretched by a new idea never returns to its original dimensions!

        helpmewin's avatar - dandy
        u$a
        United States
        Member #106665
        February 22, 2011
        19771 Posts
        Offline
        Posted: August 5, 2016, 3:15 am - IP Logged

        NEW YORK STATE ALLOWS ONLINE GAMBLING ON SPORTS, BUT NOT ON LOTTERY GAMES?

        What do you think about that?

        Let it Snow Snowman

          ArizonaDream's avatar - Lottery-009.jpg

          United States
          Member #169277
          October 10, 2015
          630 Posts
          Offline
          Posted: August 5, 2016, 4:18 am - IP Logged

          NEW YORK STATE ALLOWS ONLINE GAMBLING ON SPORTS, BUT NOT ON LOTTERY GAMES?

          So betting on fantasy sports is a "game of skill", so it's ok to bet online?  I'm not sure I see the difference between that and betting on horse races or pro sports.

            gocart1's avatar - lighthouse
            ONEONTA,NEW YORK
            United States
            Member #30516
            January 17, 2006
            419 Posts
            Offline
            Posted: August 5, 2016, 9:31 am - IP Logged

            Does this mean that my extreamly high  SCHOOL TAXS will be loweredPartyUS FlagParty

              Tatototman65's avatar - Lottery-009.jpg

              United States
              Member #138729
              February 4, 2013
              2867 Posts
              Offline
              Posted: August 5, 2016, 7:12 pm - IP Logged

              I'm still in disbelief that after the states senate passed an iGaming bill 53-5, NY still doesn't have iGaming. Next year looks really good though.

              Smile

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