Daily Fantasy Sports Industry an Epic Fail in New York State

Written by:
Guest
Published on:
Jan/10/2018

So much for the Daily Fantasy Sports industry generating all that massive tax revenue for New York State.  Turns out it was all a fantasy.

Lawmakers promised $25 million in tax revenue to be generated. 

The Buffalo News reports that a measly $3 million came in

“I thought it would be higher,’’ Assemblyman Gary Pretlow, a Westchester County Democrat, said.

A committee he chairs held a hearing Wednesday to review the numbers.

The industry overall has floundered in the US after a massive crackdown two years ago.

“Proprietary” was a word used more than once by top executives from DraftKings and FanDuel, the industry giants, when asked how many New Yorkers are registered to make the sports fantasy wagers, the Buffalo News noted.

The industry also wants New York to allow for “real-time” fantasy wagering, so fans viewing NBA games can make “transactions while games are underway,’’ said Peter Schoenke, chairman of the Fantasy Sports Trade Association.

Good luck with that!!!!

“I think it will generate more revenue for the state,’’ said Griffin Finan, government affairs counsel for Boston-based DraftKings.

It will also lead to gambling addiction!!!!

Of the 15 Daily Fantasy Sports firms licensed to operate in the state of New York, only "a handful" are actually based there.

The majority of DFS companies in business at the time the New York law was structured have since gone out of business.

- Jagajeet Chiba, Gambling911.com

Gambling News

Tennis Corruption Report: 'Tsunami' of Problems at Low Level

An independent review of corruption in tennis found that the sport "faces a serious integrity problem" at its lower levels — a "tsunami," according to one person interviewed — but did not determine there are widespread problems at ATP , WTA and Grand Slam tournaments.

Slot Machine & Casino Gambling Industry Market Report

Slot Machine & Casino Gambling Industry Market Report

The slot machine industry continues to grow at a healthy pace. Slots are viewed as the engine that drives the land-based casino industry as well as real money gambling online. The prospect for future growth beyond 2018 is one of the primary topics covered in a recent post on PlaySlots4RealMoney.com Gambling News by Rich Caesar.

Weekslong Manhunt Ends With Capture of Degenerate Gambler Accused of Killing Husband

Weekslong Manhunt Ends With Capture of Degenerate Gambler Accused of Killing Husband

A Minnesota woman who led authorities on a weekslong manhunt after she allegedly killed her husband, then went to Florida and befriended — then killed — a woman who resembled her, is now facing charges in two states.

How to Maximize Your Chances of Winning at a Bitcoin Online Casino

If you want to win regularly playing at an online casino, the key is discipline.  But there are other factors that should be considered, especially when it applies to the Bitcoin casino.

Germany's Gambling Market in the focus at Mare Balticum Gaming Summit 2018

The organizers of Mare Balticum Gaming Summit 2018 are excited to announce that the event will also feature a discussion about the state of the gambling industry in Germany and what is to be expected this year.

Syndicate