New Yorkers can once again play daily fantasy sports, as it has finally been fully legalised and regulated. On August 3rd the state of New York enacted a law enabling daily fantasy sports sites to serve residents.
This comes almost 2 months after NY legislators passed a bill on June 18th to legalise DFS, before adjourning for the year. Since then, everyone had been waiting on New York Governor Andrew Cuomo to sign the bill into action.
After receiving it on August 2nd, it only took Cuomo one day to pass the bill. The benefits were clear: Cuomo’s office estimated that New York could make $4 million in revenue from the game. Plus, he’d be making a lot of daily fantasy sports fans happy.
Now New York DFS fans can once again freely play the games they love, for fun and for cash prizes.
Back in the Big Apple
Cuomo’s decision must be a relief for DFS operators. Full legalisation and regulation have come months after General Attorney Eric Schneiderman issued several of them cease-and-desist letters last November.
After the passing of the bill, Schneiderman had this to say:
“Today, the Governor has signed a bill that amends the law in order to legalize daily fantasy sports contests, with consumer protections for New York players. I will enforce and defend the new law. Our false advertising and consumer fraud claims for past misconduct by Draft Kings and Fan Duel will continue to move forward.”
It cost DraftKings, FanDuel and Yahoo over $800,000 in lobbying and legal costs in New York alone. On the other hand, New Yorkers account for a healthy percentage of DFS players, so losing them must have hurt the sites financially. Evidently they deemed getting DFS back in the Big Apple as worthy of the cost.
What Next for DFS in New York?
Andrew Cuomo’s decision comes just in time for NFL season in the U.S., a breath of relief for DFS operators.
However, they will have to sort a few things out before being able to operate again. Sites who want to operate in New York will have to apply for a permit with the New York State Gaming Commission.
Full permits are not yet available. For now, sites who previously operated in the state can apply for temporary licenses.
As for the rest of the United States, it seems that DFS sites will be gunning for legalisation across the board. Lobbyist Jeremy Kudon told Legal Sports Report:
“We’re not satisfied with passing 8 bills in 6 months. We won’t rest until we pass bills in all 50 states.”
FanDuel CEO Nigel Eccles seems similarly determined, stating:
“With the future of fantasy sports affirmed in New York we expect our legislative momentum will only accelerate as more states address the issue. Fantasy sports fans: take comfort; FanDuel’s future is bright.”