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http://www.wsj.com/articles/daily-fa...ada-1444956906
Quote:
Daily fantasy, because it “involves wagering on the collective performance of individuals participating in sporting events,” must adhere to regulations that govern sports pools in Nevada, A.G. Burnett, chairman of the Nevada Gaming Control Board, said in a notice on Thursday. “[Daily fantasy sports] constitutes gambling under Nevada law.”
There is yet another WSJ article about DFS today. It is saying the fantasy sports trade association received a subpoena regarding legality and practices from a prosecutor based in Florida: http://www.wsj.com/articles/fantasy-...tor-1445030125
There are quite a few states in which fans aren't allowed to participate in DFS:Quote:
The regulators’ move prompted the major sites to cease operation in Nevada, and it could snowball into action in other states. Only three states—Kansas, New Jersey and Maryland—have passed laws explicitly allowing fantasy sports. Legal analysts say Florida law may not allow the fantasy sports sites to operate there.
“We have very aggressive gambling laws,” said Marc Dunbar, a partner at Jones Walker LLP in Tallahassee, Fla.
In addition to Nevada, people physically located in Arizona, Iowa, Louisiana, Montana and Washington cannot play fantasy sports for money on most of the major sites because those states have made the practice explicitly illegal. StarsDraft, a site affiliated with the poker website PokerStars and owned by Amaya Inc., also began blocking users in Florida last week when it became aware of the federal investigation, according to a person familiar with the matter.
The site also restricts people located in Michigan from depositing money.