Before I take you through this excruciating and frustrating story of how the world of Daily Fantasy Sports has essentially lied to the country, or more so the world about what they have been doing, I give you this:
As it sits today, the Attorney General in NY came out and ordered a cease and desist for any “bets” being placed by NY state residents. Initially Fan Duel and Draft Kings were going to court to fight this, however, Fan Duel has since complied. Reason being, the best possible outcome for Daily Fantasy sports leagues is that this stays a state to state issue. Because if it were to be federally regulated, then it would be subjected to the same taxes that other gambling entities are subjected to, which is approximately 70% of its earnings…
The latest blow came as the NBA, MLB, NHL, and MLS, along with owner of the New England Patriots Robert Kraft and the owner of the Dallas Cowboys Jerry Jones were cited as Defendants in a class action lawsuit in Florida before the U.S District Court.
To say this is a fluid situation would be a massive understatement.
In my opinion, there will be a time when we look back 20 years from now and either scoff how ridiculous it was when gambling on professional sports was illegal. Or we are sitting around the TV that is streaming via Facebook on Thanksgiving and we say: “Remember when there was Daily Fantasy Sports?”