Mark Cuban Says Texas AG Needs to Stop ‘Grandstanding’ in Wake of DFS Decision

Written by:
Aaron Goldstein
Published on:
Jan/20/2016
Mark Cuban Says Texas AG Needs to Stop ‘Grandstanding’ in Wake of DFS Decision

Texas Attorney General Ken Paxton declared daily fantasy sports illegal in his state Tuesday, putting more pressure on the embattled industry and leading sites DraftKings and FanDuel.

Ad: Bet Live In-Play, Up to $2500 Free Cash at Bookmaker, Since 1986

"It's my duty as Attorney General to look to the law, as passed by the people's representatives, to answer the questions put to this office," Paxton said in a statement. "Paid daily 'fantasy sports' operators claim they can legally operate as an unregulated house, but none of their arguments square with existing Texas law. Simply put, it is prohibited gambling in Texas if you bet on the performance of a participant in a sporting event and the house takes a cut.

"These sites are also wrong in claiming an actual-contestant exception, which applies only to contestants in an actual skill or sporting event," Paxton added. "And unlike some other states, Texas law only requires 'partial chance' for something to be gambling; it does not require that chance predominate."

Interestingly enough, the Fantasy Sports Trade Association is holding its winter meeting in Dallas with Mavs owner Mark Cuban the keynote speaker.

"If Attorney General Paxton is truly concerned about the small businesses that operate in Texas and the millions of people in Texas who enjoy fantasy sports, he would stop grandstanding and start working with the FSTA and the Texas Legislature on common sense consumer protection issues like those being proposed in Massachusetts, Florida, Indiana, Illinois, California and other forward-looking states," the FSTA said in a statement. "Paxton's deliberate misinterpretation of existing Texas law represents the type of governmental overreach that he himself professes to reject. The FSTA vehemently opposes today's opinion.”

- Aaron Goldstein, Gambling911.com

Gambling News

Rush on For Casinos to Start Sports Bets Before Football Season in NJ

Rush on For Casinos to Start Sports Bets Before Football Season in NJ

New Jersey gambling regulators are warning casinos to submit their plans for sports betting by Monday or risk not being approved in time for the start of football season.

Pragmatic Play Announces Acquisition of Extreme Live Gaming

Pragmatic Play Announces Acquisition of Extreme Live Gaming

Pragmatic Play announced its acquisition of Extreme Live Gaming from the Novomatic Group late last week.  Extreme Live Gaming is one of the premier live dealer casino platforms online today.

Chinese Seize $1.5 million Worth of Cryptocurrencies From FIFA World Cup Gambling

Police officials in China seized more than $1.5 million worth of cryptocurrencies tied to illegal gambling on the FIFA World Cup.

Apollon Cryptocurrency Focuses on Internet Gambling

Apollon Cryptocurrency Focuses on Internet Gambling

As the cryptocurrency and blockchain spaces continue to heat up and bring the world closer together, an exciting new virtual coin, Apollon Cryptocurrency (APO), focusing on online gambling is arising from Hong Kong, Gambling911.com can report.

New Jersey Takes in $16.4 million in Bets First Two Weeks Since Launching Sports Books

Two casinos and a racetrack in New Jersey took in $16.4 million in sports bets during the first two weeks such wagers were legal in the state.

Syndicate