Daniel Barbarisi’s brand new book, Dueling with Kings, chronicles the rise regarding the DFS industry as well as the governmental and battles that are legal had to fight in ny before regulation could occur.
Ny State is the second biggest DFS market within the world, after California, whoever effort that is legislative manage unsuccessful in 2016.
Taxes had been collected on more than $18.6 million in gross revenue from New York’s licensees, at a levy of 15 per cent, plus yet another smaller free slot games cleopatra income tax that does not exceed $50,000 annually per operator.
The vast bulk of that haul originates from market leaders DraftKings and FanDuel, although, in every, ten companies obtained temporary licenses to use shorty after New York Governor Andrew Cuomo finalized the state’s DFS bill into legislation in August year that is last.
Fantasy Aces Scandal
Along with DraftKings and FanDuel, Yahoo, Fantasy Draft, Draft, DraftDay, Synkt Games, Fanamana and DataForce are authorized to run.
The tenth, Fantasy Aces, was plunged into bankruptcy in early February, and later admitted to failing to segregate its players’ money from its operating funds, in violation of its licensing.
This new York Gaming Commission had small time for you to audit the company, since its DFS licensing regime was so new, but it is known to be investigating. We can just hope that, if such incidents occur in the future, they’ve been caught swiftly by the regulator’s checks and balances.
Regulation, after all, must swing bo Continue reading