Daily Fantasy Sports Weekly Wrap: New York Delay, Summer Doldrums?

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NY DFS law

A look at what happened recently in the industry of daily fantasy sports, and what to watch for:

What’s going on in NY?

The short answer: Not much

After the legislature passed a bill in New York last week, nothing has happened with the bill. It still needs to actually be sent to the desk of Gov. Andrew Cuomo, who would then have 10 days to sign or veto the bill.

There’s no reason to believe he wouldn’t sign the bill. But still, the timeframe seems to have gotten bogged down as DraftKings, FanDuel and the rest of the DFS industry hope to reenter the state.

Even after a Cuomo signature, the mechanics of implementing the law and issuing “temporary permits” mean we could could still be weeks or even months from DFS starting up again in the state.

The impact of the New York action is also a matter of debate as other states consider what to do with the regulation of the DFS industry.

Pari-mutuel DFS ready in Nevada

Nevada formally issued a license to a daily fantasy sports platform — USFantasy — but it’s not much like any platform out there.

The B2B company offers fantasy sports with a pari-mutuel wagering system, that diverges from the DFS industry as currently situated.

Don’t expect this to lead to a groundswell of DFS licensure in Nevada; it appears that no current operator has applied for a license in the state.

Summer doldrums for DFS?

Last summer, there were sponsorship deals galore and hundreds of millions coming into the DFS industry.

This year? The biggest items of note — outside of the regulatory developments — is DraftKings’ deal with the Canadian Football League and FanDuel’s planned entrance to the UK.

Will we see much else in the way of major news? While it’s certainly possible — rumors of a DraftKings-FanDuel merger will likely linger — the more likely scenario is a quiet summer with an eye toward NFL season.