Daily Fantasy Sports Declared Illegal by Nyc Attorney General

Daily Fantasy Sports Declared Illegal by Nyc Attorney General

New York Attorney General Eric Schneiderman was surprised to see in his research into daily fantasy sports that the best operators were engaged in deceptive marketing, simply one of the many reasons he’s announced the market illegal.

Day-to-day fantasy sports (DFS) is not legal in nyc following a study by the state’s lead attorney that is legal market leaders DraftKings and FanDuel both receiving cease-and-desist letters on Tuesday.

‘Our investigation has found that, unlike traditional fantasy activities, daily fantasy activities companies are involved in illegal gambling,’ nyc Attorney General Eric Schneiderman said in a press launch.

‘Daily fantasy sports is neither victimless nor harmless, and it is clear that DraftKings and FanDuel are the leaders of a massive, multi-billion-dollar scheme designed to evade the law and fleece sports fans in the united states.’

Schneiderman revealed his office found DFS operators engaging in ‘deceptive advertising to lure customers into an online that is unregulated gambling,’ but said that training wouldn’t continue on his watch.

Sides Square Off

The confrontation between Schneiderman and the two leading daily fantasy operators has quickly taken an ugly and combative turn.

The attorney general of course initiated the quarrel, composing in his cease-and-desist letter that ‘customers are clearly placing bets on activities outside of their control or impact,’ citing that the utmost Continue reading “Daily Fantasy Sports Declared Illegal by Nyc Attorney General”

Amaya CEO David Baazov is Bullish on Company’s Shares, Snaps Up Paper Following Price Drop

Amaya CEO David Baazov is Bullish on Company’s Shares, Snaps Up Paper Following Price Drop

Amaya CEO David Baazov is hoping to laugh their method to the bank after acquiring 60,000 shares of his or her own company’s stock at what he considers a bargain cost after a stock drop.

David Baazov has been called the ‘King of on line Gambling’ by Forbes, and now the 35-year-old Amaya CEO is hoping to show his business savvy and managing for the poker network that is largest into the globe will translate to big gains on Wall Street.

After Amaya slashed its 2015 earnings that are economic on the heels of a stronger United States dollar, shares of the company plummeted on both the Toronto and NASDAQ stock exchanges.

Investors fled the gaming conglomerate, fearing the strengthening currency that is americann’t the only culprit in charge of a 13 percent revenues cutback projection.

Baazov is not fazed, and is out to prove investors incorrect. Just two days after Amaya stock fell 30 percent, the Canadian CEO bought 60,000 shares that are common the Toronto Stock Exchange at CA$20.30 ($15.22) per share for a transaction total of $912,798.

Fools Rush In

Several market analysts agree with Baazov that Amaya is ripe for picking by capitalists looking for an improvement stock with considerable potential. One of those experts is Nelson Smith, a writer for The Motley Fool in Canada.

‘Between its PokerStars and Comprehensive Tilt Poker platforms, it commands about 70 percent of the market,’ Smith w Continue reading “Amaya CEO David Baazov is Bullish on Company’s Shares, Snaps Up Paper Following Price Drop”