Odds of NY AG ultimately prevailing in court: 80/20 Read more

Not just my eyes. Ones that matter wear robes or issue subpoenas. Read more

PASPA will be significantly altered within the net five years. Timing depends on several factors. Read more

By “traditional” fantasy sports, I assume you mean season-long. Not going anywhere. And probably neither is DFS (federal legislation would be the ultimate fail-safe if state legislative efforts fail politically or due to PASPA). None of the AG opinions or court decisions to date are targeting traditional. Read more

The lack of due diligence is on investors. If there were misrepresentations, then that’s another story. The investors’ biggest worry right now—besides diminution of investment value—is the prospect of federal criminal charges under IGBA. Under that law, investors could be ensnared. That’s why these AG cases are so… Read more

The NJ sports betting case? Read more

That’s just one side of the coin. The passing of “inside information” is an even bigger threat to the industry. Think of all the people around an NFL team (players, coaches, trainers, employees, etc.). 30 teams X 100-plus people is an awful lot of individuals with access to inside information (e.g., player use, game… Read more

Federal solution is not on radar yet. But will be either if: (1) New Jersey wins sports betting case next month on Philadelphia (would lead to PASPA being tweaked) or (2) US Attorneys or NCAA assert legal challenges to state DFS bills under PASPA. Read more

There’s enough litigation for ALL the law students in the land to write about. New issues emerging practically every day and week. Email me (check my Twitter feed) and I’ll give you a few choice topic possibilities. Read more

The NY case is on hold until early March, when DraftKings and FanDul have a deadline for responding to the NYAG’s amended lawsuit. But the critical battleground will be in the NY appeals court, where sometime in May, that court will hear argument on whether the injunction should have been granted. If the court sides… Read more

Crossing the street, going to the movies, but the one that is most annoying is the stock market comparison. Not an apt comparison for an industry that is explicitly legal under state law and heavily regulated. Don’t get that one. My friend Dustin Gouker has a classic article lampooning these analogies. Read more

The states aren’t going after players. That’s a false narrative put out by the DFS industry and legislators in their hip pocket. Do you really believe that an AG’s office has the resources or the political will to go after hundreds of thousands of players? Nah. The targets are the operators, and, potentially, those… Read more

Not necessarily. The “skill vs. chance” issue is not determinative, believe it or not, although the DFS industry would like you to be so. In Illinois and Florida (and several other states). it’s illegal to wager on BOTH games of chance and contests of skill. And in a number of states (like Texas, Tennessee and… Read more

I get asked that one a lot. The New York AG case is really the tipping point for everything. If DraftKings and FanDuel lose that one (still to play out), they lose not only the ability to operate in NY, but also face prospect of significant clawbacks under New York law. They would potentially be forced to disgorge all… Read more

All the way to the U.S. Attorney’s Office in the Southern District of New York. :) But will Preet Bharara fair catch it, fumble, or take it to the house? That is the biggest potential challenge that DFS operators face in 2016. No doubt. As I’ve previously written, a violation of state law (assuming that the New York… Read more

Ha! Ha! Certainly wouldn’t want any Rangers right now. Read more

The DFS industry did not really exist in any meaningful fashion in 2006, when UIGEA was enacted, although DraftKings and FanDuel would have everyone believe in their legal filings that they have been operating openly and conspicuously for nearly a decade (maybe with a magnifying glass). Read more

All the way to the U.S. Attorney’s Office in the Southern District of New York. :) But will Preet Bharara fair catch it, fumble, or take it to the house? That is the biggest potential challenge that DFS operators face in 2016. No doubt. As I’ve previously written, a violation of state law (assuming that the New York… Read more

Looking forward to the Q&A. See you at 12 noon! Read more