New York State is the second biggest DFS market in the world, after California, whoever effort that is legislative regulate failed in 2016.
Taxes were collected on significantly more than $18.6 million in gross revenue from New York’s licensees, at a levy of 15 percent, plus one more smaller income tax that does not exceed $50,000 annually per operator.
The vast bulk of that haul arises from market leaders DraftKings and FanDuel, although, in all, ten companies obtained temporary licenses to work shorty after New York Governor Andrew Cuomo signed the state’s DFS bill into law in August this past year.
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, had been plunged into bankruptcy in early February, and later admitted to failing to segregate its players’ money from its running funds, in violation of its licensing.
The latest York Gaming Commission had time that is little audit the company, since its DFS licensing regime ended up being so new, but it’s regarded as investigating. We can only hope that, if such incidents occur as time goes on, these are typically caught swiftly by the regulator’s checks and balances.
Regulation, after all, must swing Continue reading “Daniel Barbarisi’s brand new book, Dueling with Kings, chronicles the rise regarding the DFS industry and the political and battles that are legal had to fight in New York before regulation could occur.”