Wednesday, November 25, 2015

FanDuels and DraftKings Still Under Attack

Every day it seems like we hear more and more criticism and litigation against popular daily fantasy sports sites like FanDuels and DraftKings. It all started when the daily fantasy sports leagues dealt with an insider trading bout and has gone downhill from there. It has even gotten to the point now that if you live in the state of New York you cannot participate in the daily fantasy “gambling” that’s going on at these two sites. FanDuels and DraftKings are in hot water and big trouble and now leagues such as Major League Baseball are getting dragged down with them.

Major League Baseball along with the NBA, NHL and MLS were part of a motion that seeks to add them as defendants to a class-action lawsuit filed against these two companies. All told a whopping 51 companies were named in the lawsuit after either having invested into FanDuels and/or DraftKings or facilitated gambling. The lawsuit includes claims for “negligence, breach of contract, unjust enrichment as well as civil RICO and civil conspiracy.”

Other notable companies being listed in the lawsuit are Visa, MasterCard, American Express, J.P. Morgan, Capital One and PayPal.

It’s awfully convenient for MLB to be making money off of, advertising for and partnering with DraftKings and FanDuels in the same season that new Commissioner Rob Manfred meets with Pete Rose about his lifetime ban for betting on baseball… isn’t it? 

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Sorry for the Capatcha... Blame the Russians :)