The New York State attorney general ordered fantasy sports betting sites DraftKings and FanDuel, to stop accepting bets from state residents, saying that it has been determined that the enterprises constitute illegal gambling under state law. It’s a big blow to both sites, as one could imagine the lost business… but this is why there can never be enough lawyers, and we can expect the matter to head to the courtroom. For their part, the fantasy sites say they are games of skill, and thus do not constitute gambling.
Attorney General Eric Schneiderman believes the amount of skill pales in comparison with the amount of luck involved. Whether other states join in, remains to be seen… but its not like they are currently getting any cut of the action.
ABC’s Scott Goldberg joined us from New York City.