A major scandal is erupting in the multibillion-dollar industry of fantasy sports, the online and unregulated business in which players assemble their fantasy teams with real athletes. On Monday, the two major fantasy companies were forced to release statements defending their businesses’ integrity after what amounted to allegations of insider trading, that employees were placing bets using information not generally available to the public.
The statements were released after an employee at DraftKings, one of the two major companies, admitted last week to inadvertently releasing data before the start of the third week of N.F.L. games. The employee, a midlevel content manager, won $350,000 at a rival site, FanDuel, that same week.
“It is absolutely akin to insider trading,” said Daniel Wallach, a sports and gambling lawyer at Becker & Poliakoff in Fort Lauderdale, Fla. “It gives that person a distinct edge in a contest.”
ESPN Inks Deal with DraftKings DraftKings has agreed a deal to become the official daily fantasy sports offering across all platforms operated by US sports broadcaster and Disney subsidiary ESPN.
Under the agreement, the terms of which were not disclosed, both companies will benefit from branding and promotional […]
Fantasy Sports Now Legal in Kansas Kansas State Governor Sam Brownback has signed a bill that will legalise fantasy sports gaming activities in the US state.
Having received heavy support from the public and government figures, Bill HB 2155 was passed in the state senate by a vote of 37-1.
Signed by Governor […]
Amaya Wants Tough Regulations on US Fantasy Sports Amaya has stepped into the DFS 'data leak scandal' by calling on regulators in the US to take a tougher stance on daily fantasy sports (DFS) in order to better protect consumers and players.
DFS has come under fire in the US this week after it was revealed that a DraftKings manager […]