New York Supreme Court judge rules against DraftKings, FanDuel

[Betallsports]

NEW YORK -- A state judge has barred daily fantasy sports sites DraftKings and FanDuel from doing business in New York.

The order issued Friday by state Supreme Court Justice Manuel Mendez also denied attempts from the country's two biggest daily fantasy sports to block the state's attorney general enforcement action. Eric Schneiderman has called the games illegal gambling based on chance, not skill. His office sued the companies in state court to force them to stop.


The companies argue their games are based on skill and are therefore lawful. Messages seeking comment from Boston-based DraftKings and New York-based FanDuel were not immediately returned.

 

[charliebrown]

This is huge. A lot of other states are likely to follow NY... its likely over for DFS at least until the appeals run their course.

 

[HacheMan]

Huge loss for these companies as other states may follow New York's lead.

Time for them to bite the bullet, put their pride aside, acknowledge & admit DFS is indeed a form of gambling, and team with states in the fight to legalize it all...

 

[doubledeuce22]

Hahahahaha what a shame.. Too funny all these leagues and companies and networks jumped right into bed with dfs, too dumb and arrogant to realize this was inevitable. Game of skill lol!

 

[TonyTotals]

They made their money. If it was you and the party was over and you had to sail into the sunset with about 50 million in cash, would you feel all that bad?

 

[vitterd]

If there is one thing we know.....if the American public enjoys something that involves money .....and the govt doesn't think they are getting their cut.....it will be destroyed.

 

[Betallsports]

They made their money. If it was you and the party was over and you had to sail into the sunset with about 50 million in cash, would you feel all that bad?

I would think .. they won't be sailing into the sunset with that amount... They have investors ... and when they got multiple funding, it was in the hundreds of millions.
I forget what they got this year... but the funding in 2014 between the two, it was $160 Million

Not saying they haven't made money in the past 1.5 years... But their Monthly advertising was at one point was $20 mil

So I would think ... maybe... Investors would be losing something.... " I Think "

 

[RenoChazz]

If there is one thing we know.....if the American public enjoys something that involves money .....and the govt doesn't think they are getting their cut.....it will be destroyed.

I feel like you just had major breakthrough here.

 

[Stax]

Rip dfs

 

[Mobdeeper7239]

I would think .. they won't be sailing into the sunset with that amount... They have investors ... and when they got multiple funding, it was in the hundreds of millions.
I forget what they got this year... but the funding in 2014 between the two, it was $160 Million

Not saying they haven't made money in the past 1.5 years... But their Monthly advertising was at one point was $20 mil

So I would think ... maybe... Investors would be losing something.... " I Think "

There was a commercial every 5 seconds. That costs. Not to mention the lengthy legal battle they are about to endure. I think you're right.

This all unfolded because an employee was insider trading. You can't use info that isn't available to the public. Game of scam.

And if anyone has seen the president of draftkings or fanduel....they look and sound like straight cornballs...arrogant nerds. So I hope they keep on battling and losing

 

[CHOPTALK]

They made their money. If it was you and the party was over and you had to sail into the sunset with about 50 million in cash, would you feel all that bad?

They havent made a single cent if I had to bet.
It takes years for such a large business to turn a profit.

 

[Hamilbet]

They havent made a single cent if I had to bet.
It takes years for such a large business to turn a profit.

You couldnt be more wrong. There is no "product or service". It is all servers, web hosting and internet banking. They are/will/do turning HUGE profits.

 

[BostonBettor]

Time for them to bite the bullet, put their pride aside, acknowledge & admit DFS is indeed a form of gambling, and team with states in the fight to legalize it all...

Exactly!

 

[G.MONEY]

The courts just granted an appeal so they can continue business form what they said on the news...

 

[The Guesser]

Huge loss for these companies as other states may follow New York's lead.

Time for them to bite the bullet, put their pride aside, acknowledge & admit DFS is indeed a form of gambling, and team with states in the fight to legalize it all...

 

[KingofNicotine]

I'm not glad this is happening because people should be able to do whatever they want with their money but they were not smart about it.

They advertised too much and attracted too much attention. Fuck them.

 

[Acebb]

[h=1]DraftKings, FanDuel granted emergency stay to continue in N.Y[/h]
Less than six hours after Justice Manuel Mendez granted New York Attorney General Eric Schneiderman a temporary injunction that would stop DraftKings and FanDuel from doing business, an appellate court judge gave the two daily fantasy sites an emergency temporary stay that will allow them to accept entries from New Yorkers.
Randy Mastro of Gibson Dunn, outside council for DraftKings, told ESPN.com that the stay will likely be in place until the end of the calendar year. Eventually, both sides will go before a panel of four or five appellate judges, Mastro said.

====
"FanDuel will return to the New York market beginning tonight"

 

[Mobdeeper7239]

Okay they will shut down in 3 weeks.....deal.

 

[CarolinaKid]

should be ban in all states. im sick of the ads on tv, even talk to my personal lawyer here in nc to start a ban here in nc about them and to get some support state wide

 

[TonyTotals]

How could anyone possibly think they weren't making money????

they were raking all those games everyday in every sport. They were already estimated to be worth over a billion. You don't think that the upper echelon personnel won't walk away with 50 million?

This isn't YouTube where the site runs a loss but still gets purchased for billions because of its technology. This is a new gambling product that hit the market and took off. They made tons of money. I'm pretty sure heard on CNN or CNBC that the bigger one of the two was worth a billion dollars.