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NY US Attorney's Office Looking at Daily Fantasy Sports
Wednesday October 21,2015 : A FAMILIAR NAME IN LATEST DAILY FANTASY SPORTS DEVELOPMENT (Update)
Southern District of New York enforcers go to work again.
Online poker sector observers will be familiar with the name Preet Bharara, the US Department of Justice official who spearheaded the Black Friday enforcement attack on internet poker sites four years ago, decimating the US online poker market.
The Wall Street Journal reports this week that Bharara, and his team at the US Attorney's Office for Southern New York, is back...and this time the investigation is aimed at the daily fantasy sports vertical which has reluctantly been dragged into the spotlight following "insider" accusations that have yet to be proved
Whether Bharara's team has been quietly watching DFS developments and has opened an investigation coincidentally with the media storm currently swirling around market leaders DraftKings and FanDuel, or whether their interest has been piqued by political demands for enquiries, is not clear, but an investigation is now in progress, according to Wall Street Journal sources.
In parallel, the respected Journal reveals, is an exercise by senior Justice Department lawyers in Washington to decide whether daily fantasy sports betting violates federal gambling statutes and should no longer enjoy the benefits of its carve-out in the Unlawful Internet Gambling Enforcement Act..
The Department of Justice moves are just the latest in a series of enquiries and reviews of DFS mounted by at least three state AGs, a Grand Jury enquiry in Florida, a reported FBI investigation and calls by several influential state and federal politicians for state and/or Congressional hearings.
Approached with the news, a DraftKings spokesperson reiterated the company's belief that the skill-based games on its website, and DFS in general, are legal.
Independent legal experts told the WSJ that Bharara’s involvement marks a significant escalation of the legal challenges the DFS vertical.
“Because of his past and his reputation, this is probably the most frightening development yet for the industry,” said Daniel Wallach, a sports and gaming attorney.
Gambling News :
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Auston Matthews and the Toronto Maple Leafs touch down in DC this Tuesday (7 PM ET on TSN) as one of the hottest teams in the NHL. They've tallied a ridiculous 26 goals through only five games played; that's more than five goals scored per game on average. They'll be up against an equally potent Washington Capitals team.
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NFL Odds: Steelers Visit Undefeated Chiefs #TNF -
The Kansas City Chiefs (5-0 SU and ATS) have been flawless as an NFL pick thus far. Their chances of remaining undefeated in Week 6 look good; after opening at –4.5, Kansas City is a 5-point home chalk for Sunday’s game against the Pittsburgh Steelers (3-2 SU, 2-3 ATS), beginning at 4:25 PM ET on CBS.
Mega Moolah strikes again -
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MLS Odds: Red Bulls vs. Whitecaps -
The New York Red Bulls (12W, 12L, 7T) haven’t won a match since August 15, but they’re –165 favorites this Saturday against the visiting Vancouver Whitecaps (15W, 10L, 6T), beginning at 5 PM ET. Vancouver is a +475 underdog with the draw priced at +285.
MLB Odds: Yankees Favored in AL Wild Card Game -
After a strong regular season, the New York Yankees (91-71, –1.00 betting units) opened as –235 home favourites for Tuesday’s AL Wild Card Game against the Minnesota Twins (85-77, +11.48 units). First pitch is at 8 PM ET on ESPN.
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