DraftKings

  • DraftKings CEO Jason Robins will talk daily fantasy sports at Disrupt SF

    DraftKings CEO Jason Robins will talk daily fantasy sports at Disrupt SF

    Anyone who is interested in sports knows that daily fantasy sports has became the next big thing. And leading the charge is DraftKings, a four-year old technology company that has already raised over $400 million dollars at over a billion dollar valuation. But it wasn’t an easy ride. In its short lifespan, DraftKings has already been the center of an FBI and Justice Department… Read More

  • DraftKings CEO Jason Robins on the future of fantasy sports

    On early Saturday morning New York’s state assembly passed legislation legalizing daily fantasy sports throughout the state. The move was huge for the industry, as it means companies like DraftKings and FanDuel can restart offerings in the state, and also may serve as as indicator of similar legislation soon to be passed in other states that currently deem daily fantasy sports… Read More

  • New York has passed a bill legalizing daily fantasy sports

    New York has passed a bill legalizing daily fantasy sports

    Early this morning, on the last day of the current session, The New York Assembly passed legislation legalizing daily fantasy sports throughout the state of New York. While the bill still needs to be signed by Governor Andrew Cuomo, its passing is a big win for the entire industry. The Battle Ends Due to the large concentration of daily fantasy sports players in the state (about 10 percent of… Read More

  • DraftKings and FanDuel strike a deal with NCAA to suspend all college contests

    DraftKings and FanDuel strike a deal with NCAA to suspend all college contests

    DraftKings and FanDuel, the two largest providers of daily fantasy sports in the U.S., have simultaneously announced that they reached a deal with the NCAA to temporarily suspend college sports on both platforms after this weekend’s March Madness tournament ends. While the contests weren’t necessarily a large portion of each platform (NCAA contests constitute just three percent… Read More

  • Virginia’s governor just signed the nation’s first daily fantasy sports law

    Virginia’s governor just signed the nation’s first daily fantasy sports law

    Virginia Governor Terry McAuliffe just signed into law the “Fantasy Contests Act,” which is a legal framework for fantasy sports providers that operate in the state. The bill, which was approved by the Virginia legislature a few weeks ago, makes Virginia the first state in the nation to impose state-led oversight of the industry. The state’s Department of Agriculture… Read More

  • Fox Marks Down Its DraftKings Investment By 60 Percent

    Fox Marks Down Its DraftKings Investment By 60 Percent

    Twenty-First Century Fox, which invested $160M in DraftKings over the summer, has written down the investment by about 60 percent, according to its 10-Q filed today. Specifically, Fox noted that “based on information concerning DraftKings’ current valuation in a recent financing transaction, the Company determined that a portion of its investment in DraftKings was impaired and… Read More

  • DraftKings And FanDuel Lose A Payment Processor

    DraftKings And FanDuel Lose A Payment Processor

    Update: Title changed to reflect that FanDuel does not use Vantiv for payouts, and offers additional deposit methods besides Vantiv processing.  Daily Fantasy Sports sites like DraftKings and FanDuel have been dealt another major blow today, but this time it didn’t come from an attorney general or federal court. Instead, it came from the company that is responsible for processing… Read More

  • Texas Attorney General Says Texans Using DraftKings Or FanDuel Are Probably Breaking The Law

    Texas Attorney General Says Texans Using DraftKings Or FanDuel Are Probably Breaking The Law

    In a situation nearly identical to what happened in Illinois a few weeks ago, Texas Attorney General Ken Paxton has responded to a request from a state representative who asked if Paxton believes Daily Fantasy Sports should be illegal under state law. Not surprisingly, Paxton said that he believes DraftKings and FanDuel both violate state law, saying that “it is prohibited gambling… Read More