Opinion: FanDuel, DraftKings: How bitcoin will beat the online gambling ban

Is there anything more ridiculous than watching state governments fulminate against the wickedness of gambling — while operating gigantic and rapacious lotteries of their own?

New York attorney general Eric Schneiderman took bold action this week to stop the fantasy football businesses DraftKings and FanDuel from taking bets within the state. These businesses run commercial online versions of your office pool, where people get to bet on the weekly performances of NFL players from Tom Brady on down.

Schneiderman said these illegal operations targeted vulnerable groups, misled consumers, “and caused real social and economic harm.”

Fantasy sports sites told to cease in New York State


FanDuel and DraftKings fantasy sports sites have been ordered to cease operations in New York State by Attorney General Eric Schneiderman, who announced that daily fantasy sports gameplay is equal to illegal gambling. Photo: Bloomberg

“DraftKings and FanDuel are the leaders of a massive, multibillion-dollar scheme intended to evade the law and fleece sports fans across the country,” Schneiderman thundered as he hit the businesses with cease-and-desist orders.

OK, so apparently one of the many investors in DraftKings is FoxSports, which is connected to WSJ/MarketWatch via the Murdoch family. Make of that what you will.

And yes, I understand the concerns

Read more ... source: TheBitcoinNews