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Nevada Bans Daily Fantasy Sports

Friday October 16,2015 :  NEVADA REGULATOR BANS DAILY FANTASY SPORTS (Update)
 
"This is gambling," says Nevada Gaming Control Board.
 
In the latest blow to the beleaguered daily fantasy sports vertical, the Nevada Gaming Control Board has ruled after an analysis of the genre that its activities constitute gambling, and that operations in the state by companies without licensing like DraftKings and FanDuel must halt immediately.
 
The ruling caps a fortnight that has seen extensive negative media coverage, political and enforcement concerns, the convening of a Grand Jury in Florida, Attorney General reviews in two states, calls for a Congressional hearing, an FBI investigation and at last count player class actions in three states following allegations of questionable "insider" activity at DraftKings and FanDuel
 
The ruling will be a blow to the market leaders, who have held some of their biggest live DFS events in Las Vegas; unless they can obtain licensing these will have to be relocated in the future.
 
Investors will also be concerned; both FanDuel and DraftKings have raised hundreds of millions of dollars from investors, used mainly to fuel massive advertising and promotional budgets as the billion-dollar rival companies strive to attract more players, and the Nevada decision could influence other states.
 
Media organisations will be monitoring the situation closely - DraftKings and FanDuel between them have boosted US media revenues by spending a combined total of around $150 million on advertising between June and September this year alone.
 
Responding to the Nevada ban, DraftKings said that it "strongly disagreed" with the NGCB decision and the exclusionary approach adopted by the regulator. The operator promised to work diligently to ensure that Nevada residents "...have the right to participate in what we strongly believe is legal entertainment that millions of Americans enjoy."
 
However, the company accepted that it will have to "temporarily" disable its product for "our thousands of customers in Nevada in order to be compliant in all jurisdictions.”
 
FanDuel commented that it was disappointed at the NGBC decision, noting that it meant that only incumbent Nevada casinos may offer fantasy sports.

"This decision stymies innovation and ignores the fact that fantasy sports is a skill-based entertainment product loved and played by millions of sports fans," the company said. "This decision deprives these fans of a product that has been embraced broadly by the sports community including professional sports teams, leagues and media partners.
 
"We are examining all options and will exhaust all efforts to bring the fun, challenge and excitement of fantasy sports back to our Nevada fans. In the interim, because we are committed to ensuring we are compliant in all jurisdictions, regrettably, we are forced to cease operations in Nevada.”
 
Eric Hollreiser, the communications chief at Amaya, which owns DFS operator StarsDraft, was quick to comment on the Nevada ban, saying in a statement: "As proponents of state regulation of DFS we respect the state's decision and no longer allow Nevada consumers to play on StarsDraft."

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Gambling News :

Pokerstars Bahamas Main and High Roller Results - The inaugural PokerStars Championship Bahamas saw two big winners crowned this weekend when Christian Harder won the main event for $429,664 and Luc Greenwood took home $779,268 after taking down the $25,750 High Roller event.

Rodrigo Duterte has identified illegal gambling as his third priority - Illegal online gambling operators can anticipate tougher times in the Philippines following a directive from President Rodrigo Duterte that stamping out illegal gambling is his third most important goal after illegal drugs and government corruption.

High Hopes For Pennsylvania Online Gambling - Pennsylvania state politicians have wasted no time in getting back to work in the new legislative season, and there is renewed hope for a gambling expansion bill that includes online gambling and daily fantasy sports.

WILLIAM HILL ACCUSED OF QUESTIONABLE MARKETING TACTICS - British Labour member of parliament for Swansea East, Carolyn Harris, has described as "appalling" player-poaching techniques allegedly encouraged by the online and land bookmaker William Hill plc.

GoWild has announced the launch of its own new gaming platform - The European online gambling group GoWild has announced the launch of its own new gaming platform, providing entertainment in addition to its Microgaming games, which will now be delivered via the Quickfire platform.

UK Government Introduces Mandatory horseracing levy - The levy kicks in after the first GBP 500,000 in gross revenue has been earned by online and retail bookmaking firms and other betting organizations.

Chinese Arrested in Philippines Invalid - Representing the thirty-nine plaintiffs, defense lawyer Irene Bianca B. Distura claimed that the warrant that led to her clients’ apprehension is “invalid.”

NJ Warns No Federal Online Gambling Ban - New Jersey Senator and gubernatorial candidate Raymond Lesniak warned that any attempt to overturn a 2011 Department of Justice opinion that the federal Wire Act exclusively governs sports betting would be met with a hard-nosed reaction from his state.

Casino du Liban To Launch new online gambling platform - The venture will be in partnership with an unnamed international company, and a tender has already been launched with a deadline of January 19 to submit the proposals.

Winstar slot Pays Big Jackpot - One very fortunate online punter in Bermuda has scored a major win on the Winstar slot at the PokerStars online casino, collecting a $825,037 jackpot.

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