Posted on 11/10/2015 8:31:10 PM PST by NYRepublican72
New York Attorney General Eric Schneiderman on Tuesday ordered the nation’s two largest fantasy-sports-betting Web sites to cut off gamblers from the Empire State — saying the online operations are illegal and designed to scam sports fans out of billions of dollars.
In cease-and-desist letters to FanDuel and DraftKings, Schneiderman’s office said the booming businesses were breaking New York’s law that prohibits gambling on games of chance.
The letters say the companies’ customers “are clearly placing bets on events outside of their control or influence, specifically on the real-game performance of professional athletes.â€
(Excerpt) Read more at nypost.com ...
My fellow NYers get what they deserve when they elect Democrats like this.
A fool and their money is parted, unless the government can find a way to make a cut....
The state only cares about cracking down on gambling when they aren’t getting a cut. Otherwise, they will enthusiastically promote it.
If people want to send their money over the internet to people they don’t know in order to place bets on the outcome of events for which they have no control and in which they are given inadequate information to calculate for themselves the fairness of the odds they are receiving and can’t determine whether other bettors may be receiving more information or getting greater odds or given information that allows them to profit by arbitrage or by taking the other side of popular bets .... they can invest in the stock market! :-)
Does this mean no more fantasy football commercials on game day?
One could hope for that.
ESPN would take another hit on ad revenues if that happened.
Apparently, Eliot Spits[on]her & Bloomturd aren’t the only pricks in NY govt.
Unlikely with most of the other states not sticking their noses where it doesn’t belong.
Unlikely with most of the other states not sticking their noses where it doesn’t belong.
And when the government takes a cut, they get a better vig than those foolish private companies do. Why? Because it's for the children.
I’d tell the AG of NY to go F himself. Let him try to use government force against them.
Tyranny must be confronted.
Typical tech prowess for a libtard. Never heard of a proxy.
The State of NY is seeing too much money go into somebody else’s pocket.. thus leaving less for the state to take.
Whatever one thinks of fantasy football, citing the employees who used inside information to win big on the rival site is a weak argument. By that standard the stock market should be shut down because of the insider trading that some engage in.
Schneiderman is a left wing, nanny state tyrant.
As much as I despise the NY AG, I have to acknowledge he is correct on the merits. Fan Duel and Draft Kings are nothing more than sports gambling, which has been illegal outside of Nevada for decades. These are not games of skill, as you could argue with a fantasy league over a whole season. There is no skill involved when the event wagered on is one day. It is pure sports gambling, illegal in the 40’s, 50’s 60’s, 70’s etc. The New York AG is only the first of the next 48 AG’s who are going to rule the same way. I excluded Nevada’s AG, but even there they probably do not have a license to operate. It is the end for these companies, and a lot of legal problems for those who ran them, including criminal charges.
That is what John Gotti said before they shipped out to the supermax in Colorado.
Edit That is what John Gotti said before they shipped him out to the supermax in Colorado.
I’m ready to bet on how long this will last.
I don’t know the legal enforceability of this move. NY could probably use broad interpretations of fraud or money laundering if it got that far, and even if they think they can’t actually win in the end (I think they could) they have unlimited resources to harass the sites into compliance. Bullying by the state against people/businesses the leaders of the state don’t like, the cost to the state treasury and credibility of its official offices be damned.
A computer server proxy of course would allow someone to obfuscate their physical location when they place a bet. But they would have also had to have signed up on the site with a fake address, maybe even a fake name. And if the player won some of their wager back the player would have to figure out how to collect the money. It is unlikely imo a player will have any legal risk here and this campaign specifically targets the house, not the players. But the players would be putting the house at risk by claiming a fake address to lay bets, and a real NY location to collect. And if the player was already registered they would have to change their registration address to wager, and again to collect, which would not just be suspicious it would be difficult since banking info and credit card info isn’t usually malleable enough to let a player deposit money from a name and address that don’t match the card or continually change the name and numbers on the card.
Of course they could use a straw purchaser, or a live human proxy. I could set up a website that will accept bets from New Yorkers and place on their behalf. I’d take only 1% above the cost of merchant processing to collect the player’s money and place the wager, and 7% of any winnings collected from the sites :-)
As for the players, as long as they declare the winnings on their taxes, they are probably good to go, if not, a whole other story.
As for your website, a little advice, add a percentage for what you are going to have to kick up to your local wiseguy. That is if you would like to continue walking.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.