FanDuel and DraftKings deemed illegal in NY
New York-based FanDuel and Massachusetts-based DraftKings are the two largest daily fantasy sports operators. You pay a few dollars, draft a team for the day, and see how much money you win. People have walked away with millions of dollars after playing.
However, New York's state attorney demanded they stop allowing residents to play because the gambling is illegal under New York state law. FanDuel plans to take every possible legal route to remain in business, and DraftKings will also attempt to negotiate with the state attorney to dig itself out of its current hole. Vantiv Entertainment Solutions, a major financial transaction processor, told all of its daily fantasy sports operators to stop accepting players from New York in light of the state attorney's demands while both the corporations work things out in court.
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