
Senator Michael Ranzenhofer, whose bill aims to classify DFS being a game of skill. He accuses the continuing state of ‘overregulation.’
A new New York gambling bill introduced this week by Senator Michael Ranzenhofer (R-Erie County) seeks to classify daily fantasy sports as a game of skill, thus exempting the activity through the state’s prohibition of gambling.
The bill, filed on Monday, is apparently in direct a reaction to the cease and desist letters sent to DFS market leaders DraftKings and FanDuel the other day by New York AG Eric Schneiderman.
The AG has said that the 2 companies’ operations in the state constitute ‘illegal gambling.’
DraftKings and FanDuel quickly launched split lawsuits against Schneiderman seeking to protect their brand New York company.
DraftKing’s filed a ‘petition and complaint’ against the AG, which aimed to end him from, in accordance with the filing, ‘carrying out his threat to banish using this State an industry that is lawful by thousands of New Yorkers.’
A New York judge on Monday denied DraftKings and FanDuel’s joint obtain a temporary restraining order that would have avoided any action being taken against them prior to the matter could possibly be settled in the courts.
The AG acted swiftly and on Tuesday filed for an injunction to power down the two operators.
DFS Carve-out
Into this legal maelstrom actions Senator Ranzenhofer, whom believes DFS should be awarded a legal carve out from New York’s gambling prohibition, just as the racetracks and brand new casino operators have been.
‘Time and time once more, New York has stood in just how, whether by over-regulation or banning that is outright of activities being legal and enjoyed in most states across the united states,’ complained Ranzenhofer. ‘ This bill further protects the rights of businesses and individuals who wish to engage in this type of commerce in the continuing state of New York.’
His bill seeks to amend ny’s concept of a ‘contest of opportunity’ as one which:
…shall maybe not add participation in almost any fantasy or simulation in any fantasy or simulation sports game or academic game or contest in which (if the game or contest involves a team or teams) no dream or simulation sports group is based on the present membership of an actual team that is a part of an amateur or professional sports organizations…
Casino Lobby
The AG’s office dismissed the bill as a bit more than a lobbyist’s stunt. ‘DraftKings and FanDuel have employed a fleet of lobbyists to convince the Legislature to legalize their gambling operations,’ said AG spokesman Damien LaVera. ‘ How exactly does that square with one of these businesses’ insistence that their web sites are presently legal?’
But, a write-up in the New York Post shows that Schneiderman, himself, might not be immune to the influence of lobbyists.
According to your Post, nyc’s casino interests have actually contributed over $150,000 to his campaign funds since 2010.
The casinos themselves are not able to offer sports wagering and therefore are incensed that DFS companies are allowed to operate in the state with, as yet, complete impunity.
Daily Fantasy Sports Players File Lawsuit Against Credit Card Industry
Daily fantasy sports is being assaulted along with credit card issuers in a new lawsuit that alleges DraftKings and FanDuel operate unlawful online gambling products. (Image: wkyt.com)
The legality of daily fantasy sports (DFS) has resulted in a national debate over the final six months, numerous groups petitioning for the own personal interpretation of this law to be considered correct.
Nevada’s Gaming Control Board ordered market leaders DraftKings and FanDuel to leave city, New York Attorney General Eric Schneiderman issued cease and desist letters, and a handful of other jurisdictions including federal lawmakers are mulling their next steps.
DFS is enflamed with controversy and litigation.
Nonetheless, the latest lawsuit isn’t inclined to the operators alone but also the credit card companies that have processed the millions of dollars in deals.
In a class action suit filed in a Manhattan court, lawyer Hunter Shkolnik argues players ‘think they’re just playing sports games, but it turns out to be a gambling situation.’
Bank Cards Named
Several payment processors are identified with DraftKings and FanDuel in the lawsuit including Visa, MasterCard, American Express, and Capital One for facilitating and participating in what they allegedly should have known was a unlawful gambling operation.
Shkolnik says his client Yehuda Guttman lost between $5,000 and $10,000 playing fantasy that is daily. Guttman claims he relied on credit cards to enable his DFS participation and often played on credit.
The claim seeks the restitution of monies lost by all DFS players, a goal that would theoretically put DraftKings and FanDuel on the hook for millions of dollars and send that is likely into bankruptcy.
‘Defendants knew, or should have known, that the loans made to individuals in FanDuel and DraftKings’ DFS schemes were for unlawful gambling plus in violation regarding the UIGEA (illegal Web Gambling Enforcement Act), federal and New York State legislation,’ the accusation reads.
FanDuel and DraftKings of program disagree, the former saying that Schneiderman is attacking its solutions to ‘get himself some press coverage.’ DraftKings called it a ‘hasty decision,’ arguing the attorney general did not just take the right time to discover why DFS contests are skill challenges.
Tough Case to check out
Shkolnik does his best to pinpoint their belief that daily fantasy is gambling in his 45-page criminal suit.
Predominantly going off Schneiderman’s ruling that DFS isn’t protected through the UIGEA loophole that allowed for fantasy sports games with regards to was passed in 2006, Shkolnik opines that clients are unknowingly gambling when being told it’s skill-based.
The lawsuit appears to hint at holding DFS operators and re payment merchants accountable for one’s own lack of self-responsibility. Maybe frivolous in nature, that does not mean Shkolnik’s costs are without merit.
Nevada and the brand new York attorney general appear to be on https://freeslotsnodownload-ca.com/royal-vegas-casino-review/ the medial side of the plaintiffs, and additional opinions that are forthcoming states and lawmakers could additionally help fuel the situation against FanDuel and DraftKings.
That doesn’t mean the lawsuit won’t get its fair share of scrutiny from the general public. ‘Guy loses thousands gambling and it’s not his fault,’ observer Peter Flagler commented on the nyc Daily News internet site.
Poker Player Travell Thomas Charged With Operating Fraudulent $31 Million Debt Collection Racket
East Coast poker player Travell Thomas is accused of being the mind of ‘the largest debt that is fraudulent scheme ever to be prosecuted.’ (Image: borgataspringpokeropen2012.blogspot.com)
Travell Thomas, a two-time WSOP Circuit gold ring winner, happens to be accused of operating the largest fraudulent debt-collecting scheme ever prosecuted.
Borrowing and lending may be part associated with the tradition associated with poker that is live, but we’re not sure we’d want to borrow money from Thomas, if the allegations of US Attorney for the Southern District of ny are true.
He appears accused of being the co-owner and president of the ongoing company that allegedly coerced more than $31 million in consumer debts from thousands of Americans by ‘making false threats and telling a host of lies,’ based on a statement from the AG’s office.
Thomas himself paid himself in $750,000 in money from the scheme, while he and his fellow director withdrew approximately $1.4 million from banks and ATMs.
Meanwhile, thousands of dollars were used to purchase Thomas’ gambling expenses, as well tickets for recreations games, his wedding cosmetic and reception surgery for his wife, according to the allegation.
Juicing Balances
It is alleged that the business’s MO was to claim it had been connected to local government and law enforcement agencies and to suggest falsely that victims had committed acts that are criminal as wire or check fraud, threatening all of them with false warrants when they failed to pay up.
It also claimed that victims’ driving licenses would be revoked for failure to pay debts.
It is further accused of inflating victims’ debt balances so than they owed, a training known by employees as ‘juicing balances. that they would ultimately spend more’
‘As alleged, the defendants engaged in what is considered to be the biggest debt that is fraudulent scheme ever to be prosecuted, falsely threatening arrest and prosecution of countless Americans, including those who endured disabilities,’ Attorney General Preet Bhahara, who simply occurs to end up being the man that brought down online poker in the usa on Ebony Friday.
‘The defendants charged today allegedly took ruthless benefit of the desperate situation in which their victims discovered themselves, using threats and lies to coerce payment and also attempting to collect more money compared to the victims ever owed.’
Facing twenty years
Thomas happens to be a fixture on the East Coast poker scene since the late noughties.
He won his very first WSOP Circuit ring in 2011, at a WSOP Circuit Caesars Atlantic City event, and his second during the venue that is same 2013.
He’s charged, along with co-owner Maurice Sessum and nine other members for the company, with cable fraudulence and conspiracy to commit wire fraud. If convicted he could face a maximum phrase of 20 years in jail.
Sports Betting Could Soon Come Online in New Jersey
New Jersey Assemblyman Ralph Caputo is adamant that the survival of Atlantic City depends on sports gaining legalization that is betting. (Image: meettheleaders.com)
Sports betting in brand New Jersey could have its day in court sometime in February whenever the united states of america Court of Appeals for the 3rd District holds a banc that is en to find out whether or not the state has the right to authorize the industry.
The expert and Amateur Sports Protection Act of 1992 (PASPA) outlawed recreations betting nationwide except in a few of states that is predominantly limited to Nevada today.
New Jersey opted to change that, residents voting in favor of sports gambling in 2011.
Their state’s legislature passed a bill with Governor Chris Christie authorizing the law in October of 2012, but since then the measure has sat idle within the courts as the NCAA, NFL, MLB, NBA and NHL filed a lawsuit that is collective the Garden State.
Two federal rulings have sided utilizing the sports leagues, however New Jersey received a lifeline that is much-needed month once the Third District agreed to reexamine the truth.
Verdict Implications
The banc that is en will bring the majority of the Third Circuit to pay attention to arguments on New Jersey authorizing sports wagering. The proceedings will most likely happen in February, with all the panel likely to release its verdict within the weeks after.
Should it returned and only hawaii, nj-new Jersey Division of Gaming Enforcement Director David Rebuck states the step that is next be to create the practice online.
‘ We were advised a while back that the Third Circuit will hear the truth en banc,’ Rebuck told Gambling Insider this week. ‘That is most likely the time that is first we had a small victory in our efforts to date.’
‘ If we win that … change the activities wagering prohibition to allow for sports wagering to be performed on the Internet,’ Rebuck said.
Providing New Jerseyans the ability to place wagers on sporting events online would certainly bring substantial new revenues towards the Internet casino operators and deliver the tax that is subsequent to Trenton.
Saving Atlantic City
Lawmakers are banking on sports betting as Atlantic City’s savior. The east coast casino location has been hurt by nearby states legalizing land-based gambling throughout the last ten years leading to a long and sluggish death of the resort city.
‘We come in desperate need of revolutionary tips to combat the continued downturn in New Jersey’s video gaming industry in both Atlantic City and at our racetracks,’ Assemblyman Ralph Caputo (D-District 28) stated last year. ‘This is an opportunity to kick-start this industry in a fashion that is unprecedented across the East Coast… Sports betting has the prospective to be an economic game-changer.’
Into the meantime, local politicians in Atlantic City are looking for methods to fund the town as vacant and bankrupt casinos continue to fail on having to pay their obligated property taxes. Casino companies have been in favor of payment-in-lieu-of-taxes moving forward to help them offset their properties’ continued devaluation as video gaming revenues unrelentingly decline.
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