This Week in Gambling

On Monday, the Massachusetts Special Commission on Online Gaming, Fantasy Sports Gaming and Daily Fantasy Sports met for the first time. The existence of the panel is a result of a daily fantasy sports bill the legislature passed in August. The bill legalized daily fantasy sports in Massachusetts, using the regulations crafted by Attorney General Maura Healey in March as a temporary solution until permanent regulations can be adopted. It also included the creation of the special commission, which is tasked with recommending these permanent regulations to the legislature. In addition to DFS, the commission is entrusted with presenting suggestions…

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Now that the two largest online daily fantasy sports sites are back in the news—nearing a deal to merge into a company drawing $100 million in revenue, according to the Wall Street Journal—it’s a good time to answer a nasty, nagging question: Are these sites legal? Because the companies in question, FanDuel and DraftKings, are backed, respectively, by fat investments from Comcast and 21st Century Fox, it’s apparent that some high-powered attorneys must think that they are. And in fact, at this point, they’re clearly legal in at least nine states. So the real question is whether they will become…

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The country’s two leading online daily fantasy sports companies are paying out big — in fines to the state. FanDuel and DraftKings on Tuesday agreed to pay $6 million each to settle lawsuits from Attorney General Eric Schneiderman alleging they engaged in false and deceptive advertising practices. Schneiderman had charged that the companies misled casual and novice players about their chances of winning and the significant advantages professional players have while failing to disclose the dangers of gambling addiction. The companies also agreed to revamp their marketing, including better disclosure of expected winnings and performance. Because of recent financial struggles,…

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