Yahoo A Target In NY Daily Fantasy Sports Probe

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According to people "familiar with the matter," Yahoo was issued a subpoena by the New York State attorney general in connection with that DraftKings - FanDuel lawsuit.

A probe by New York State's attorney general into the fast-growing, multibillion-dollar daily fantasy sports industry has been expanded to include online media giant Yahoo Inc, a person familiar with the matter said on Tuesday. Yahoo, which operates a daily fantasy sports site, was issued a subpoena by Schneiderman, the person familiar with the matter said.
 
I wonder why yahoo falls under this. I wasn't aware they had anything remotely approaching DraftKings or FanDuel.

Are they going to go after the NFL next, or does the State just want its cut?
 
flashoverride said:
I wonder why yahoo falls under this. I wasn't aware they had anything remotely approaching DraftKings or FanDuel.

Are they going to go after the NFL next, or does the State just want its cut?
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Yahoo has daily fantasy and are very aggressive in marketing it to traditional fantasy sports players.
 
haste. said:
Yahoo has daily fantasy and are very aggressive in marketing it to traditional fantasy sports players.
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Gotcha. I use the NFL site for my fanatasy league, wasn't familiar with Yahoo. I know the NFL has some contests going on, but not the daily stuff. That stuff has SCAM written all over it...
 
Do you pay to play? Yes.

Can you win money? Yes.

Then It's gambling.

I don't care how much skill there is in it. Poker has a high skill factor. Poker is gambling.

Some might say it takes a lot of skill to assemble a march madness bracket, or pick the likely winning team and score of a game, but that's considered gambling as well.

So how is this any different?

It's just a bunch of cheeky tech startups trying to circumvent the rules.

I'm not making a value judgment on gambling here, I don't much care about that either, but I DO care very much about the fact that in a civil society governed by laws, the same laws should apply to EVERYONE.

Same goes for the whole Uber ride sharing and Air BnB turn your home into a hotel things.

I'm not necessarily a fan of either Taxi regulations or Hotel taxes, but the same rules have to apply to everyone. Full stop.

If you want them changed, change them for everyone.

We can't have tech giants carving out their own loop holes and behaving differently than everyone else.
 
Zarathustra[H];1041979519 said:
Do you pay to play? Yes.

Can you win money? Yes.

Then It's gambling.
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A little off topic, but isn't this what half of Wall Street does, bet on the price change of stocks?

If you want to bet on sports legally, go live in Vegas or Atlantic City.
 
I have never understood fantasy football but it got really popular in the late 90's when yahoo and I think cbs? (it might have been nbc. one of the 3 letter news channels that football came on) made websites for it. I think the yahoo was just groups or something like that. Yahoo was pretty big back then so it must have just stuck with them.
 
KarsusTG said:
I have never understood fantasy football but it got really popular in the late 90's when yahoo and I think cbs? (it might have been nbc. one of the 3 letter news channels that football came on) made websites for it. I think the yahoo was just groups or something like that. Yahoo was pretty big back then so it must have just stuck with them.
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The old yahoo fantasy football site where you could set something up between a few buddies is completely different from DraftKings and FanDuel, which are basically just a legal loophole form of online gambling. It's got billions of dollars involved now, with the NFL and TV networks and huge media companies all with their fingers in the pie. I think it's days are numbered personally. Last episode of John Oliver just did a whole piece on this, it's worth a watch.
 
FndTheRver said:
A little off topic, but isn't this what half of Wall Street does, bet on the price change of stocks?

If you want to bet on sports legally, go live in Vegas or Atlantic City.
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No, stocks are paid for stakes in a business. If your stock goes down in value you don't lose your investment in the company, if the company is about to dissolve you would know about it well in advance.

Also, betting on sports in Vegas is way more lucrative than these scamDraft sites. They are only popular because you have the option to pick your ur players, making you feel like you are in more control and the fact there's the million dollar pot at the end.
 
Trimlock said:
Also, betting on sports in Vegas is way more lucrative than these scamDraft sites. They are only popular because you have the option to pick your ur players, making you feel like you are in more control and the fact there's the million dollar pot at the end.
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Yep, the stat I heard was only 1.5% of people win anything on these sites. Shit, I think slot machines pay out better than that.

And most of that 1.5% is supposedly stat experts and number crunchers with their own elaborate prediction schemes and massive spreadsheets. So if you're just Joe Blow picking your players based on a "feeling" or because they're your favorites or whatever, you're just handing over money.
 
Zarathustra[H];1041979519 said:
Do you pay to play? Yes.

Can you win money? Yes.

Then It's gambling.

I don't care how much skill there is in it. Poker has a high skill factor. Poker is gambling.

Some might say it takes a lot of skill to assemble a march madness bracket, or pick the likely winning team and score of a game, but that's considered gambling as well.

So how is this any different?

It's just a bunch of cheeky tech startups trying to circumvent the rules.
Click to expand...

Actually, per the Unlawful Internet Gambling Enforcement Act (UIGEA), aka Reg GG, fantasy sports received a specific carveout calling them a game of skill and not gambling. If you want to see how our crazy system works, UIGEA was added at the 11th hour to a port security bill, and apparently fantasy sports had a good enough lobby to specifically be exempted.

(5) Does not include—
(ix) Participation in any fantasy or
simulation sports game or educational
game or contest in which (if the game
or contest involves a team or teams) no
fantasy or simulation sports team is
based on the current membership of an
actual team that is a member of an
amateur or professional sports organization
(as those terms are defined in 28
U.S.C. 3701) and that meets the following
conditions:
(A) All prizes and awards offered to
winning participants are established
and made known to the participants in
advance of the game or contest and
their value is not determined by the
number of participants or the amount
of any fees paid by those participants.
(B) All winning outcomes reflect the
relative knowledge and skill of the participants
and are determined predominantly
by accumulated statistical results
of the performance of individuals
(athletes in the case of sports events)
in multiple real-world sporting or
other events.
(C) No winning outcome is based—
(1) On the score, point-spread, or any
performance or performances of any
single real-world team or any combination
of such teams, or
(2) Solely on any single performance
of an individual athlete in any single
real-world sporting or other event.
Click to expand...
 
Is there anything more boring than imaginary sports? I can't even imagine getting the least bit excited about a pile of sweaty guys doing disgusting ball chasing on some sorta television or streaming thing let alone taking that same sweaty guy-pile and playing pretend with it. Yelch!
 
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