Ny State is the second biggest DFS market within the world, after California, whose effort that is legislative manage unsuccessful in 2016.
Taxes were collected on significantly more than $18.6 million in gross revenue from ny’s licensees, at a levy of 15 percent, plus an extra smaller tax that doesn’t exceed $50,000 annually per operator.
The vast bulk of that haul originates from market leaders DraftKings and FanDuel, although, in most, ten companies obtained temporary licenses to operate shorty after New York Governor Andrew Cuomo signed the state’s DFS bill into legislation in August year that is last.
Fantasy Aces Scandal
Along with DraftKings and FanDuel, Yahoo, Fantasy Draft, Draft, DraftDay, Synkt Games, Fanamana and DataForce are authorized to operate.
The tenth, Fantasy Aces, was plunged into bankruptcy in early February, and later admitted to failing to segregate its players’ money from its operating funds, in violation of its certification.
The New York Gaming Commission had little time and energy to audit the company, since its DFS licensing regime had been so new, but its regarded as investigating. We can only hope that, if such incidents occur later on, they’re caught swiftly by the regulator’s checks and balances.
Regulation, after all, must swing both m Continue reading “Daniel Barbarisi’s brand new book, Dueling with Kings, chronicles the rise associated with DFS industry as well as the political and appropriate battles it had to fight in nyc before regulation could occur.”