Draft Kings is a top notch payment process for fantasy sports winnings of skill based gaming. Currently, forty nine of the fifty states allow skill based gaming. You can build your team in only minutes and watch your scores update live online. FanDuel is a web based fantasy sports game and the largest company as measured by money wagered in the daily fantasy sports industry. The model consist of traditional season long fantasy sports leagues being compressed into a daily,and occasionally weekly, games.
Draft Kings and FanDuel were ordered to stop accepting bets from New York residents. The reason why? The state of New York says that their games constituted illegal gambling under state law. Legal experts said that the action was likely to be repeated in other states where legislatures and investigators questioned whether the industry should inhibit directives that govern legalized gambling. The sports companies contended that their games are not gambling, because it involved the use of strategy and skill to win and not just luck. They were legally sanctioned by a federal law in 2006 that exempted fantasy sports prohibition against processing online financial wagering. The spotlight on these companies has grown since last week, when they were forced to react to questions about the integrity of their games after a data breach involving a DraftKings employee. The same employee won $350,000 in a FanDuel contest, leading to questions about whether he had used that information to game the system.The companies say he did not and that there was no wrongdoing. New York attorney general, Eric Shneiderman is one the many people who want to know more. He sent letters to both companies asking for employee information, including a list of those with access to insider data and how they control for potential fraud Both companies said they have already banned employees from playing on rival sites for money. What do you think? How FanDuel and Draft Kings bet too much? Or is the state just bluffin? Comment your thoughts below!
Written by Carlos Marrow
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