Daniel Barbarisi’s brand new book, Dueling with Kings, chronicles the rise for the DFS industry additionally the political and legal battles it had to fight in ny before regulation could occur.

Daniel Barbarisi’s brand new book, Dueling with Kings, chronicles the rise for the DFS industry additionally the political and legal battles it had to fight in ny before regulation could occur.

Nyc State is the second biggest DFS market within the world, after California, whoever legislative effort to regulate failed in 2016.

Taxes were collected on significantly more than $18.6 million in gross revenue from New York’s licensees, at a levy of 15 per cent, plus an additional smaller income tax that does not exceed $50,000 annually per operator.

The vast bulk of that haul arises from market leaders DraftKings and FanDuel, although, in most, ten companies obtained temporary licenses to operate shorty after New York Governor Andrew Cuomo finalized 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 run.

The tenth, Fantasy Aces, had been plunged into bankruptcy in very early February, and later admitted to failing to segregate its players’ money from its running funds, in violation of its certification.

The newest York Gaming Commission had small time for you audit the company, since its DFS licensing regime was so new, but its known to be investigating. We can just hope that, if such incidents occur later on, they are caught swiftly by the regulator’s checks and balances.

Regulation, after all, must swing both real mea […]