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Legality of Fantasy Sports (and DFS)


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Texas Attorney General, Ken Paxton, issued his Opinion today on the legality of Daily Fantasy Sports ("DFS") and traditional fantasy sports. Texas joins a growing list of states that have already interpreted DFS and other fantasy sports as illegal according to current state laws. This is likely a necessary step toward new regulation, which is long overdue. However, this opinion will be quite unpopular in Texas. You can read the full opinion here: http://www.legalsportsreport.com/wp-content/uploads/2016/01/Texas-ag-dfs-decision.pdf

 

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It was already banned in NY and now I believe it's under appeal.  Texas Hold'em and other online gambling sites tried to fight this battle and lost.  You can spin it any way you want, but it's gambling if you play for real money and there's no more skill in DFS as their is in Texas Hold'em.

States want to regulate / control gambling and more importantly take a piece of all the action.  Fan Duel and others had a good run, but they got greedy, grew too big and made themselves a target.

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18 hours ago, CalcuttaLive said:

Texas Attorney General, Ken Paxton, issued his Opinion today on the legality of Daily Fantasy Sports ("DFS") and traditional fantasy sports. Texas joins a growing list of states that have already interpreted DFS and other fantasy sports as illegal according to current state laws. This is likely a necessary step toward new regulation, which is long overdue. However, this opinion will be quite unpopular in Texas. You can read the full opinion here: http://www.legalsportsreport.com/wp-content/uploads/2016/01/Texas-ag-dfs-decision.pdf

 

Texas is already pretty anti-gambling anyway, so this isn't a particularly big shock.

In any event, the writing's on the wall with DFS. It's gambling by any objective definition. Whether it (and gambling generally) should be legal regardless for responsible adults is another question, but in a paradigm where sports betting and other gambling is illegal or regulated, it would be inconsistent to treat DFS differently. Frankly, until they can resolve their integrity issues (maintaining the secrecy of the data from anyone who could use it to play the game as well as the problem of high volume professionals raiding the pools), I'm not shedding any tears for this industry.

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I don't understand what sets daily fantasy apart from season-long fantasy.

 

 

edit: Well, Okay, I should read first.  I suppose gambling is allowed in Texas if there is no house taking the rake.  It sounds like they're trying to fit a square peg into a round hole.  I wonder if that is the case elsewhere. 

Edited by dsc123
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I don't think you can debate whether or not DFS is gambling in most states. The current law is pretty clear. I think the real debate is whether or not current laws, which some people might argue are outdated, should be revised to allow state and federal governments to regulate a $400bn / year industry that is currently unregulated / not taxed. 

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I am of the opinion that the reason DFS and the like, are being declared illegal is because those in power have no way of getting their piece of the action. I live in a state where gambling is legal. The big casinos won't let us do any gambling that does not involve them. I drove 30 miles to buy power ball tickets because lottery tickets are not allowed here. This, even though prostitution is legal in some counties. Go figure.

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DFS is gambling. to say that it isn't is being disingenuous.

that said, FD, DK and others to a lesser extent have partnerships across the "Major Sports" platforms (and likely ESports as well) and these partners are not going to let their investments fail.

at some point, the Gubment (probably at the Federal level) will step in with regulatory statues for these sites to comply with, and of course imposes taxes to these companies, who will in turn pass them along to their players. some states may still impose a ban, but the majority will not.

just my prediction.

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