On Tuesday November 10th, New York State Attorney General Eric Schneirderman sent a cease and desist order to two highly prominent daily fantasy sites: Fan Duel and Draft Kings. According to the New York Times , the attorney general has determined that people who participate in daily fantasy games on this site are gambling. Interestingly, the Attorney General did not take the same position with seasonal fantasy leagues where groups of individuals gather and draft their own leagues.
The attorney general seem to think that because Fan Duel and Draft Kings have made substantial money over the last year conducting daily fantasy leagues in various sports that there must be chance involved. The difficulty is, that the Federal Government in 2006 excluded fantasy sports from the legislation that covers online gambling. As a result, these daily fantasy sites became prevalent.
The Attorney General believes otherwise. He is under the belief that these daily challenges create a game of chance similar to a roulette wheel. Those games are regulated. A piece of the fees are paid to the state and licensing must be achieved through the Gaming Board.
If I take my money and wish to participate in a game why can’t I do that? Why can’t I do that when I have analyze and choose the playsers and determine what makeup will provide the best results? Who exactly am I hurting? If a company is benefitting is that not what capitalism is all about?