DraftKings – Page 2 – FairOdds Network

December 9, 2024

US senators want FTC to investigate DraftKings, FanDuel

Senators Mike Lee and Peter Welch accuse the two operators of conspiring to control the US sports betting market.

Two US senators have formally requested that the Federal Trade Commission (FTC) and the Department of Justice (DOJ) investigate online sports betting platforms DraftKings and FanDuel.

In a letter dated 5 December, Republican senator Mike Lee and Democratic senator Peter Welch raised concerns about the companies allegedly coordinating efforts to suppress competition in the industry.

The senators cite public reports. These suggest DraftKings and FanDuel may have joined together to pressure other businesses not to work with rival betting platforms. Both companies are members of the Sports Betting Alliance (SBA). The senators claim the SBA has been used as a vehicle for these actions.

“After their merger to monopoly was blocked, it seems that FanDuel and DraftKings have arguably acted as one company, violating our antitrust laws,” wrote the senators.

We can’t allow online..

November 22, 2024

State of the Union: DraftKings under fire, AGA reports record Q3 for gaming revenue

Welcome to iGB's State of the Union, a look at the biggest North American sports betting stories we've covered over the week and briefs on others we found interesting.

DraftKings under fire in MA, OH

On Wednesday (20 November) the Ohio Casino Control Commission (OCCC) levied a $425,000 (£335,028/€408,042) fine on DraftKings for two separate violations. The OCCC said DraftKings took college-player prop bets, which are banned in the state. It also said the company allowed accounts to be funded at “unauthorised” locations.

With regard to the college-player prop bets, DraftKings took bets 14-19 March, after the ban went into effect 1 March. In terms of account funding, the OCCC revealed that DraftKings took $2.5 million – on 40,985 deposits – at “non-gaming retail locations”.

Following the violations, the OCCC said DraftKings removed player-prop bets from its Ohio bet menu and stopped taking deposits at unapproved locations. The commission is requiring DraftKings to train i..

November 20, 2024

Legal Missouri sports betting might not be a done deal after all

On 5 November and in the days thereafter, it appeared that Missouri voters had approved Amendment 2, which allows for statewide retail and digital sports betting. But with vote tallies still trickling in, it's possible that the measure didn't pass, or at least that a recount could be demanded.

Multiple media outlets and the Sports Betting Alliance (SBA) touted Amendment 2’s passage in the week of the presidential election. But according to the Missouri Independent, the results from one county could reverse that.

And even if the amendment is deemed a winner, the vote differential is so slim, a recount could be requested.

Christian County is located in southwest Missouri and is considered a suburb of Springfield. And according to a certified vote tally dated 12 November, 30,320 ballots were “no” on Amendment 2 and 19,955 were “yes”. That’s a difference of 10,365 votes on a constitutional amendment that was said to have won by the slimmest of margins. That official vote tal..

October 25, 2024

State of the Union: VA Tech player dismissed, Holt out at IC360, more

Welcome to iGB's State of the Union, a look at the biggest North American sports betting stories we've covered over the week and briefs on others we found interesting.

VA Tech drops player over Temple betting probe

Temple transfer Hysier Miller has been dismissed from the Virginia Tech men’s basketball team amid a sports betting investigation of Temple, Sports Illustrated reported on 23 October. Last spring, Temple’s game against UAB was flagged for “suspicious activity” by US Integrity. The line for the game opened with UAB as a 1.5-point favourite, but moved to as high as eight. Miller scored eight points and committed three turnovers. His season average was 16 points per game.

That game was the second in which Temple did not cover a point spread – UAB won, 100-72. Despite having a losing regular season, Temple advanced to the ACC championship game and Miller averaged 27.8 points per game during the conference tournament. He announced he was entering the transfer portal ..

October 4, 2024

Missouri sports betting initiative won’t be most expensive in history, but the numbers are already stunning

Caesars Entertainment, DraftKings and FanDuel continue to dump dollars into campaigns for and against legal sports betting in Missouri.
The Missouri campaigns won’t be the priciest in history, or even for a sports betting initiative. But the totals are striking for a state that ranks 18th in population, with 6.2 million residents.

As of Friday (4 October), proponents and opponents had staked campaigns with more than $35m (£26.6m/€31.9m), according to the Missouri Ethics Commission website. Advertisements are flooding airwaves and mailboxes ahead of the 5 November election. To put that figure in perspective, a total of $32.7m was spent on eight proposed amendments or propositions in 2018, according to Ballotpedia.

The title for the most expensive initiative belongs to California, the biggest US state. In 2022, proponents and opponents spent more than $450m on two sports betting proposals. The ultimate result was that both failed spectacularly.

Caesars contribution totals $10.9m so..

October 4, 2024

DraftKings exits UK daily fantasy market

DraftKings has closed its UK daily fantasy offering as of today (4 October), in an effort to “optimise its business”. Users of the app this morning received emails notifying them the product was being pulled from the market with immediate effective.
DraftKings’ users were told they can withdraw funds after the closing date and in-game currencies like Crowns and DK Dollars would be converted into US dollars.

“Since DraftKings’ launch in Great Britain, we have been proud to be a part of the country’s passionate sports and daily fantasy sports fanbases,” the email read.

Responding to questions from iGB a DraftKings spokesperson said:”This decision was made as part of our ongoing efforts to optimise our business.

“We are grateful to all our customers across Great Britain and are committed to ensuring a smooth transition. Moving forward, we will continue to focus on growth and delivering value in other key markets, including US sports betting.”

It launched in the UK on 5 February 201..

October 1, 2024

A look at all DraftKings regulatory penalties this year

The online gambling giant has now been hit with over $300,000 in penalties across four states
DraftKings keeps rolling the dice with various authorities, from state regulators to the US Securities and Exchange Commission (SEC). The result? The online gambling operator is repeatedly crapping out.

Casino Reports counts four instances in this year alone in which DraftKings has been hit with fines by regulators. Included is a pair of six-figure wallops.

Here they are, in order from largest to smallest:

X’d out
Last week, the SEC hit DraftKings with a $200,000 (£149,251/€178,756) fine over the company’s public relations team’s posts on the X (formerly Twitter) and LinkedIn accounts of founder and CEO Jason Robins on 2 July.

The posts in question stated that DraftKings was experiencing “really strong growth” in states where it was operating.

The problem? According to the SEC, those posts violated Section 13(a) of the Exchange Act and Regulation FD. In short, the company was telling tale..

September 17, 2024

MLBPI slaps four US operators with name, image and likeness suit for using players in apps, social media

MLB Players Inc (MLBPI), the corporate arm of the Major League Baseball Players Association (MLBPA) has filed lawsuits against DraftKings, Bet365, FanDuel and Underdog Fantasy for unlawfully using the name, image and likeness of several players on their apps and social media accounts.
The suits were filed on Monday (16 September). The DraftKings-Bet365 suit was filed in the US District Court for the Eastern District of Pennsylvania and the FanDuel-Underdog suit was filed in the New York State Supreme Court in Manhattan. Both allege that the bookmakers have used “hundreds” of MLB players’ names and images without proper consent.

The alleged violations apply to bets and promotions on the bookmakers’ apps and posts from their social media accounts. The union described the two companies’ conduct as “outrageous, malicious, and in wilful violation of MLBPI’s rights”.

As a result, the union is seeking an injunction to stop the use of player images as well as compensatory and punitive dam..

September 17, 2024

FanDuel dominated Washington, DC wagering in August

In the first full month of an open competitive market in Washington, DC, FanDuel was the clear choice for bettors, taking $21.7m in bets. Four operators were live online.
Washington, DC also has four in-person only sportsbooks and the eight combined to take $40.6m in bets, the highest in history according to the Office of Lottery and Gaming (OLG) report. The group had a combined $4.5m in gross gaming revenue (GGR).

In June, the DC Council voted to open the market, which during its first three years, only had one digital option available throughout the District and that for just 11 months. GambetDC, a white-label platform provided by lottery provider Intralot, was live.

But issue after issue arose and, in March, the OLG announced that Intralot was preparing to take the platform down and replace it with FanDuel. The wagering giant subcontracted with Intralot, but its run as a monopoly was short-lived. FanDuel went live in April, but on 15 July the market opened and the OLG declined t..

September 12, 2024

Mass Gaming Commission to set hearing about DraftKings’ bungled email

People on the self-exclusion list in Massachusetts received the email about a ‘bonus bet'.
A widespread notification from DraftKings in mid-August about settlement of PGA Tour golf bets mostly was met with harmless bemusement and confusion from those receiving the email.

The recipients consisted of those who have made wagers on golf using the online sportsbook – just not this particular bet. It also included some who don’t even have a DraftKings account.

But it is another group of recipients that may land the Boston-based sports betting giant in hot water with regulators.

DraftKings message was intended for 13 bettors
That’s because during a Massachusetts Gaming Commission hearing on Thursday (12 September), it was revealed that the email was intended to be sent to only 13 bettors whose wagers were relevant to the settlement. But it actually went out to more than a million users. The potential hot water comes from the fact that the commission found that 184 residents on the vol..

August 28, 2024

DraftKings agrees to buy in-play betting company Simplebet

DraftKings on Wednesday (28 August) announced that it has come to terms to buy Simplebet in an effort to punch up its in-play betting capabilities and boost its AI game.
The acquisition will be DraftKings’ second major purchase this year, after it completed the purchase of digital lottery company Jackpocket in May. DraftKings earlier this year also acquired SportsIQ Analytics and sold VSiN back to its original owners.

DraftKings, founded in 2012 in Boston, is the second-biggest US sports betting company by market share.

Details of the deal were not released and are pending regulatory approval. The boards of directors for both companies have approved the acquisition, according to a DraftKings press release.

The Simplebet deal would allow DraftKings to integrate Simplebet’s machine learning models into its platform and offer customers “highly accurate betting opportunities during every moment of a game”. By adding Simplebet’s technology, according to the press release, DraftKings ..

August 26, 2024

Weekend Report: Addabbo sounds off about NYC casino process, DraftKings stymied in court, Aristocrat’s new UK deal

Welcome to the Weekend Report, where iGB covers the news that you may have missed over Friday, Saturday and Sunday. This week, we look at an FBI arrest in DC, as well as a California bill that would allow tribes to sue cardrooms.
Frustration continues over NYC casino bid process
New York Senator Joe Addabbo continues to push for and vent his frustration about the status of three downstate NYC casino licences. Per Action Network, Addabbo was vocal during the Racing and Gaming Conference at Saratoga, NY earlier this month.

“Why not codify the timelines? Why not give definitive answers to why we’re not doing this on a timely basis when we did three licences upstate in a fraction of time?” Addabbo asked during a conference panel. “Because we’ll have this same panel here five years from now.”

At issue is the timing of awarding three casino licences. Eleven entities are bidding for the licences, which are currently scheduled to be awarded in the middle of 2025. Casinos would be able to op..

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Tag: DraftKings