Gambling Regulators Block Daily Fantasy Sites in Nevada

Websites like DraftKings and FanDuel has been ordered to stop operating until the companies and their employees receive state gambling licenses after nevada regulators ruled on Thursday that playing daily fantasy sports should be considered gambling, not a game of skill in the state.

Five states have prohibited them (DraftKing &FanDuel) from operating, but none are as powerful and influential as Nevada, which has long been a bastion of legal gambling, operates under strict regulation and has the nation’s only active sports betting.

DraftKings and FanDuel, each valued at more than $1 billion, have operated under an exemption to the Unlawful Internet Gambling Enforcement Act of 2006, which outlawed online poker and sports betting.

    “The Nevada Gaming Commission concluded that daily fantasy is gambling and needs to be licensed here,” said David Gzesh, a Nevada lawyer specializing in gambling and sports law. “It should give other state’s pause because if it’s perceived as gambling here, then how can they even offer it when sports betting is illegal in their states.”

The Nevada commission said operators of the state’s sports books may offer daily fantasy games if they wanted, but said everyone must be properly licensed within the state.

    “Although Nevada gaming licensees who have received approval to operate a sports pool may expose DFS for play themselves in Nevada (in compliance with all applicable statutes and regulations), such licensees should exercise discretion in participating in business associations with DFS operators that have not obtained Nevada gaming approvals,” the group said in a statement.

Lets know what you think by leaving a comment.


Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )


Connecting to %s