Daily Fantasy Sports Giant FanDuel Forms Board of Advisors
25 November 2015
A new advisory board has been created for FanDuel, one of the two largest daily fantasy sports companies in the world. The board's express purpose is to help the company develop policy, but it's not hard to see that they're scrambling at this point to get as much positive publicity as possible after the scandals and other hits that the industry has taken in the past couple of months.
Who is on the Board
This board consists of a number of big names in sports and politics. Michael Garcia will be the chairman, and he's known for being the US Attorney for the Southern District of New York, an important position. Former Pennsylvania Governor Tom Ridge, who was also the Secretary of the US Department of Homeland Security, will be on the board as well. We'll see the former president and CEO of the Dallas Mavericks Terdema Ussery, and Tim Brosnan, who used to be the Executive Vice President of Business for Major League Baseball, is also on the board.
Importance of This Advisory Board
This advisory board is important for two reasons. First, it shows that they're taking self-regulation seriously, an issue that will help keep government regulation of the industry from getting out of hand. Second, it offers a pre-emptive solution to any criticism that could come their way that they don't have qualified professionals in place who can help direct policy on complicated matters that affect politics, online gambling and the sports world. Considering the sports world has been rallying against anything resembling sports betting until DFS came along, it's a pretty big deal.
Will DraftKings Follow Suit?
It'll be interesting to see how DraftKings follows suit on this particular issue. Don't be surprised if you see their own advisory board popping up inside of the next couple of weeks. They have been facing a lot of the same problems as FanDuel, and they've responded to many of them in the same ways. Overall, it'll be really telling how they react to this, and it'll also be a major factor in how they are treated with all of the issues going on in the industry today. We hope that this advisory board helps to steer things in the right direction for FanDuel since it's really what's best for the players.
06 February 2016Vantiv to Suspend Daily Fantasy Sports Payments
For the past six months or so, daily fantasy sports have been dealt setback after setback in what seems to be a series of dominoes that are taking their sweet time in falling over. For about 18 months, the top DFS providers got a ton of attention through aggressive marketing tactics and sponsorships and deals with everything from ESPN to major league sports teams. After a scandal broke last fall, they've seen a lot of negative attention as well. The Most Recent Developments Vantiv Inc.Read full article
21 January 2016Daily Fantasy Sports Not Allowed Says Maryland AG
Over the past few months, there have been a lot of questions about the legality of daily fantasy sports in multiple states. The Attorney General for New York sent a cease and desist letter to major companies like FanDuel and DraftKings, and they also hit some resistance from the AG in Illinois. Now the Attorney General of Maryland Brian Frosh has stated that it's not allowed under existing laws in the state. Where to Go From Here From here, Frosh has suggested one of two things.Read full article
19 January 2016Daily Fantasy Sports May or May Not Be Illegal in Texas
Daily fantasy sports have come under fire in New York from their Attorney General, and the biggest names in the business were forced to make a deal with the AG from Illinois after she determined that the events were illegal in that state as well. The Attorney General in Texas, however, is taking his sweet time with coming out with an opinion on the matter. Why the Delay?Read full article