Bet Against Daily Fantasy Sports

– Forbes

Today would not be a propitious day to invest, as some professional sports leagues have done, in the daily fantasy sports sites, Draft Kings or FanDuel. Or to make bets (or, according to DraftKings/FanDuel, to exhibit your skill) on those sites if you live in New York. The reason is that on November 16 those two companies failed in their efforts to get a temporary restraining order against the Attorney General of New York, Eric Schneiderman, prohibiting the Attorney General from stopping those two fantasy sports companies from operating.

There will be a further hearing next week, but the companies will have an uphill battle to show that the instant riches that they advertise continuously during televised sporting events do not occur as the result of gambling. How else can one make hundreds of thousands of dollars in a day? Perhaps, if you are lucky and smart, on the stock market (which, of course, is highly regulated). Daily Fantasy Sports sites, on the other hand, have been operating without regulation in New York and other states.

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