Daily fantasy sports were already prohibited in New York in November 2015. However, they have been recently approved by the decision of the New York Senate. It is important to note that online poker has not become legal.
Apart from the local Senate, daily fantasy sports have been legalized by the New York Assembly. The approved bill is offered by John Bonacic. Now the Governor Andrew Cuomo should sign this bill. However, the lawmakers have failed to legalize online poker. So, the issue of its legalization is quite relevant.
Letís discuss the possible consequences of this decision for daily fantasy sports.
In New York daily fantasy sports were offered by two major companies DraftKings and FanDuel until their prohibition in November 2015. However, now they are able to start providing their services in New York. The other companies that offer daily fantasy sports will also be able to enter the local market.
As for online poker, the situation is much less favorable.
Despite the fact that the bill for legislation of online poker had been supported by the Senate Finance Committee, the legislators failed to approve it. This is explained by the fact that online poker has more negative consequences compared to daily fantasy sports.
This decision of the stateís Senate and Assembly has seriously affected plans of local casinos whose owners have hoped to enjoy additional revenues from fans of online gambling.
According to Mr. Bonacic, the author of the online poker bill, this kind of gambling seems to be very beneficial to the stateís treasury. The legalization of online poker is expected to create new jobs and increase tax revenues. So, the struggle will be continued!