Final Note

All bets are off for DraftKings and FanDuel in New York

Molly Wood Mar 21, 2016
HTML EMBED:
COPY
Both companies are under investigation in multiple states.  Scott Olson/Getty Images
Final Note

All bets are off for DraftKings and FanDuel in New York

Molly Wood Mar 21, 2016
Both companies are under investigation in multiple states.  Scott Olson/Getty Images
HTML EMBED:
COPY

If you were going to do all your March Madness fantasy wagering on DraftKings or FanDuel and you’re in the state of New York, you’re out of luck. 

The sites have agreed to stop operating in that state as part of a deal to get the state Attorney General drop almost all claims against them.

Now, instead of getting sued out of existence completely, DraftKings and FanDuel will appeal a ruling that they violate online gambling laws.

They are awaiting the outcome of a proposed bill in New York that would legalize daily fantasy sports betting.

New York is the ninth state where the sites had to stop offering paid contests.

But it’s extra painful because not only is the New York market huge for both of them, FanDuel actually has its corporate headquarters right there on Union Square … in Manhattan.

We’re here to help you navigate this changed world and economy.

Our mission at Marketplace is to raise the economic intelligence of the country. It’s a tough task, but it’s never been more important.

In the past year, we’ve seen record unemployment, stimulus bills, and reddit users influencing the stock market. Marketplace helps you understand it all, will fact-based, approachable, and unbiased reporting.

Generous support from listeners and readers is what powers our nonprofit news—and your donation today will help provide this essential service. For just $5/month, you can sustain independent journalism that keeps you and thousands of others informed.