What the New York Ban Means for Daily Fantasy

Draft Kings and FanDuel banned in New York- Getty Image

In what seems like a body blow for the daily fantasy industry, New York Attorney General Eric Schneiderman has issued a cease and desist order to the two biggest operators, FanDuel and DraftKings. This move has effectively outlawed daily fantasy for the state’s 19 million inhabitants.

Schneiderman has ordered both sites to stop their operations for New York State resident customers, who are believed to be responsible for 10% of the market.

Inevitably, other DFS operators will also shut their business in the states. Schneiderman has clearly signalled he thinks their business model constitutes illegal gambling. Read more…