NEW YORK, NY — Football season has yet to kickoff but that hasn’t stopped a couple of sports companies from already scoring big.
On Wednesday New York Governor Andrew Cuomo signed legislation that legalized daily fantasy sites DraftKings and FanDuel as games of skill in the state of New York. The sites will now operate under the New York State Gaming Commission which will aim to protect consumers.
The commission will also collect millions of dollars in fees from both sites which Cuomo says will be used to provide more funding for education. It ends a long battle between the daily fantasy companies and New York but the legal issues for the sites are far from over.
Here in Texas, after Attorney General Ken Paxton shared his belief that daily fantasy was gambling, FanDuel left the state but DraftKings has stuck around to fight the issue in court. In fact, it`s been almost a year since draft kings and the Cowboys announced a long-term partnership which culminated in a draft kings fantasy lounge located in AT&T Stadium.
Jerry Jones, who`s a stakeholder in draft kings, has been a defender of daily fantasy sports. As has Dallas Mavericks owner Mark Cuban who`s invested in daily fantasy sports analytics site Fantasy Labs.
So will the victory in New York start a winning streak for daily fantasy? We’ll see. But for now, at least they’re on the scoreboard.