Brand New York Attorney General Eric Schneiderman was surprised to discover in his investigation into daily fantasy sports that the key operators were engaged in deceptive advertising, just one of the many and varied reasons he’s declared the market illegal.
Daily fantasy sports (DFS) is no further legal in ny following an investigation by the state’s lead attorney that is legal market leaders DraftKings and FanDuel both receiving cease-and-desist letters on Tuesday.
‘Our investigation has found that, unlike traditional fantasy sports, daily fantasy sports companies are involved in illegal gambling,’ New York Attorney General Eric Schneiderman said in a press release.
‘Daily dream sports is neither victimless nor harmless, and it is clear that DraftKings and FanDuel are the leaders of a massive, multi-billion-dollar scheme designed to evade the legislation and fleece sports fans across the country.’
Schneiderman revealed his office found DFS operators engaging in ‘deceptive advertising to lure consumers into an unregulated online gambling operation,’ but said that training wouldn’t continue on his watch.
Sides Square Off
The confrontation between Schneiderman and the two leading daily fantasy operators has quickly taken an ugly and combative change.
The attorney general of course initiated the quarrel, writing in his letter that is cease-and-desist that are clearly placing bets on activities outside of their control Continue reading “Daily Fantasy Sports Declared Illegal by Ny Attorney General”