http://www.legalsportsreport.com/613...sites-exit-ny/

Major payment processor pulling the plug on NY DFS sites. PayPal next?

That explains all the verification notices on FanDuel.

Id probably say the sites are -300 to pull out of NY within the next week or so while they fight this, but we'll see.

This stuff Mike is talking about is painful. Legit has no idea what he's talking about for most of it. Just the usual stuff "These people have 500 entries so they're guaranteed to win and nobody else has a chance!"

If having 500 entries is a way to guarantee making a profit then why don't the people who are losing just enter the contest 500 times?

He's like the guys on RG who think people win by covering "All the combinations"

God it's infuriating,''can't keep children out'' really,lock up your credit card mom and dad and junior can't play,is it that f**king hard.''Players will alter their play to help family members'' I can definitely see Tom Brady calling audibles to help Giselle knock down the milly,Christ my head hurts.

Yeah. I guess the FD CEO cancelled. Francesa was definitely painful to listen to.

Does anyone know which court has jurisdiction over this issue? I can imagine the sites making a good enough argument to get an injunction preventing the cease and desist order from taking effect as scheduled. But what happens after that?

EVERY single thing you say applies equally to sportsbetting.

It apparently is "gambling" in New York to risk something on the outcome of a future event over which the bettor has no control ...

Skill matters in a proper sense when it affects the outcome. No amount of skill in building a fantasy team affects the outcome of the future contingent events, i.e. player performances, upon which a wager is being placed.

Skillful picking of sports-bets, even if you get to design your own prop bets, and even do it better than thte other contest enries , is still dependent upon future contingent events out of the DFS player's control.

I would love for the answer to be different and hope FD stays the course and successfully litigates this in favor of sportsbetting being a skill, as opposed to dependent upon an outcome over which a bettor has no control.

What law is that ? (Not that I want you to be wrong, I just want to know what law legalizes operating a business in NY that accepts sports bet because they are "skill-based")

When they say 1% of the players win all the money, that doesn't prove it's a skill game. If a few guys stack the deck, they are increasing the amount of chance involved for the average player. 1 person entering 500 lineups has a better chance than 1 person entering 1 lineup because they can cover more combinations. That doesn't guarantee a win, it just improves your chances substantially. If you do not understand that, you should play 1 lineup against my 500. The loser has to match the amount the winner earns from their lineup/s.

UIGEA. If NY state has more restrictive laws than UIGEA then why are they only enforcing them now? How was DFS not illegal years ago? The industry has been around for years now.

Does this mean that if your 500 lineups lose $3500 and my 1 lineup loses $20 you owe me $3480 or are you just going to pretend that 500 lineups cost the same amount as 1 lineup when entered into the same gpp?

are you aware that it costs 500x as much to enter 500 lineups as it does one lineup?

Incorrect.

Are you aware that depends on the entry fee's?

can't tell if seriou's.

The entry fee's are sunk upfront, it's who wins back more. 1 lineup vs 500 lineups.

I wouldn't want to play Hold'em if my opponent got dealt 5 sets of pocket cards to my 1, and got to play which ever hit the board the best, would you?

wow

Here's a better experiment IMO. Let's say 201 players with equal ROI's are invited to play in a 400 player GPP. One player has 200 entries. The other 200 players have one entry each. Which side wins more money? I can see a slight advantage for the multi-entry player because he's able to organize his lineups in a strategic fashion. Meantime, the other 200 players are just throwing darts.

They control what players are in their lineup, so yes they do have control. DFS is not a slot machine.

so if we bet on the flip of a coin and i let you call heads or tails, would you say thats not gambling because you have control over which side you picked?

dfs is very obviously gambling by any definition while also being a game of skill. it is impossible to only be one.

Players have control over which slot machine they play.

It's clearly not like a slot machine but it's clearly gambling. Agreed that it's completely ridiculousness for a government to outlaw gambling, especially when they permit certain truly harmful/guaranteed -EV gambling, but it's still gambling.

And these slot machines pay out at different rates.