Daniel Barbarisi’s new book, Dueling with Kings, chronicles the rise regarding the DFS industry while the political and appropriate battles it had to fight in New York before regulation could occur.
Nyc State is the second biggest DFS market in the world, after California, whoever effort that is legislative control failed in 2016.
Taxes had been collected on significantly more than $18.6 million in gross revenue from nyc's licensees, at a levy of 15 percent, plus one more smaller tax that doesn't exceed $50,000 annually per operator.
The vast bulk of that haul originates from market leaders DraftKings and FanDuel, although, in all, ten companies obtained temporary licenses to use shorty after New York Governor Andrew Cuomo signed the state's DFS bill into legislation in August last year.
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 very early February, and later admitted to failing to segregate its players' money from its working funds, in violation of its licensing.
The newest York Gaming Commission had time that is little audit the company, since its DFS licensing regime was so new, but it's considered to be investigating. We could only hope that, if such incidents occur in the future, they truly are caught swiftly by the regulator's checks and balances.
Regulation, after all, must swing both real ways, and wi (more…)