Fan Duel and DraftKings to pull out of NY?

I normally do not get involved with the legality of DFS play.

However, this is an important event……

The NY State Attorney General has reached an agreement with both DraftKings and Fan Duel concerning the current pending lawsuit in NY state.

It has been agreed that both FD and DK will pull out of NY State on Monday, March 21st pending the possible legislative efforts to approve DFS in the State of New York.

The NY Legislation has until June 30th ( the end of the current session) to complete any DFS legislation.

The agreement will run until the current court case, regarding DFS legality will be heard, in September of 2016.

The prospects of a positive agreement and change in the NY Laws concerning the legalization of DFS in NY State look positive currently, it is not a guaranteed happening however.

Until then, there will be no DFS play, deposits or withdrawals in NY State.  You can however, play, deposit, withdraw if you leave the actual boundaries of NY State for all your DFS activities.

All NY players will have the opportunity to withdraw all of their funds from both DraftKings and Fan Duel during the quarantine.

You will be notified by each site and have 7 days to initiate your withdrawals.

You can now add New York to the list of states denying players the freedom to play Daily Fantasy.

Here is the Updated list of banned states: New York, Mississippi, Hawaii, Arizona, Iowa, Louisiana, Montana, Nevada, and Washington State. Texas and Illinois are also in the grey area regarding legality.

Yes, I know it is a bunch of Bull Shit……. But NY DFS players should contact their State representatives and let them know that you voted for them and you want a reasonable law regarding safe, controlled and fair Daily Fantasy Play in New York State approved before the June 30,  2016 deadline……..

How does this affect every one else? NY state comprised a very large number of DFS players and a significant amount of prize pool amounts. I think there will be a decrease in actual competition, making winning a slight bit easier. However the prize pools in the larger GPP tournaments will suffer and look for fewer $1M and $500K GTD tournaments.  Just my humble opinion……….

Here are all the details of the NY DFS Deal:

NYAG News Conference: https://www.youtube.com/watch?feature=youtu.be&v=UAFoG0KMl9c&app=desktop

FD Agreement:  http://www.ag.ny.gov/pdfs/NYAG-FanDuel-3.21.2016%20Agreement-Final-Executed.pdf

DK Agreement: http://www.ag.ny.gov/pdfs/NYAG-DraftKings-3.21.2016-Agreement-Final-Executed.pdf

Advertisements
Comments are closed, but you can leave a trackback: Trackback URL.
%d bloggers like this: