Daniel Barbarisi’s new book, Dueling with Kings, chronicles the rise for the DFS industry as well as the political and appropriate battles it had to fight in New York before regulation could occur.

Daniel Barbarisi’s new book, Dueling with Kings, chronicles the rise for the DFS industry as well as the political and appropriate battles it had to fight in New York before regulation could occur.

Nyc State is the 2nd biggest DFS market within the world, after California, whoever effort that is legislative manage unsuccessful in 2016.

Taxes had been collected on a lot more than $18.6 million in gross revenue from nyc’s licensees, at a levy of 15 per cent, plus an extra smaller tax that does not exceed $50,000 annually per operator.

The vast bulk of that haul comes from market leaders DraftKings and FanDuel, although, in every, ten companies obtained temporary licenses to work shorty after New York Governor Andrew Cuomo finalized the state’s DFS bill into law 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, was plunged into bankruptcy in very early February, and later admitted to failing to segregate its players’ money from its working funds, in violation of its certification.

The newest York Gaming Commission had time that is little audit the company, since its DFS licensing regime ended up being so new, but it’s considered to be investigating. We could only hope that, if such incidents occur later on, they’re caught swiftly by the regulator’s checks and balances.

Regulation, after all, must swing both real means, an Read more