Daily Archives: October 28, 2015

Daily Fantasy Sports Companies May Lose First NFL Team Partnership Amid Insider Trading Scandal and Illegal Gambling Label

Casino Watch Focus has reported on the ongoing issues running ramped through the daily fantasy sports industry including a Class Action lawsuit, federal investigations by the FBI and US Attorney General, and numerous state actions including a Nevada shut down of DFS and general investigations by state attorney general offices as well. Now it would appear that all the negative press is leading one NFL team, the Dolphins, who reside in Florida, a state that is already believed to be leaning toward viewing the industry a violation of state law, to potentially end their partnership with DFS companies like FanDuel and Draft Kings. It only takes one team to back out to create a chain of owners doing the same in efforts to distance themselves with what is inevitably coming. The Sporting News explains:

The Dolphins on Thursday became the first NFL team to comment on the developments. “We would need to consider all of our options, including termination, if their business model is deemed to be unlawful,” the team said in a statement, via the Boston Globe.

Officials across the country have begun to assess whether the daily fantasy sports trade model complies with state and federal gambling laws since the scandal erupted.

 Laws in Florida are especially stringent and could force the Dolphins’ hand sooner than other teams. U.S. attorney’s offices in Boston and New York — where the companies are headquartered — were already probing DraftKings over the scandal.

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