During its current term, the Supreme Court of the United States (“SCOTUS”) will hear a case brought by the State of New Jersey challenging the Professional and Amateur Sports Protection Act of 1992 (“PASPA”) in an attempt to legalize sports gambling in the state. Sports betting, and in particular single-game sports betting, has a long…
Tag: Daily Fantasy Sports
The Failed Merger Between FanDuel and DraftKings
The professional sports industry has proven to be a hotbed of innovation for companies seeking to capitalize on its immense fan base. One of the most rapidly developing platforms in this space has been daily fantasy sports (“DFS”). Unlike traditional fantasy sports, where “leagues” comprised of typically a dozen members compete throughout an entire sports…
Financial Impact of Daily Fantasy Sports: Part Two
The first part of this two-part blog series discussed the legal distinction currently in place that allows daily fantasy sports sites such as DraftKings and FanDuel to operate. Although sports’ gambling is illegal in most states, the Unlawful Internet Gambling Enforcement Act legalizes fantasy sports gambling when the winnings “reflect the relative knowledge and skill…