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NY Court Documents Show Big Business Of Daily Fantasy Sports

@FanDuel

Documents filed at the court examining the legality of daily fantasy sports in New York show a rapidly growing national business built on billions in entry fees.

An estimate by DraftKings says the industry will take in up to $4 billion in entry fees in the United States this year, and could reach up to $20 billion in 2017.

Daily fantasy companies like FanDuel and DraftKings generally charge roughly 10 percent of each wager for hosting games.

The insights into the industry are contained within court exhibits as the companies fight New York Attorney General Eric Schneiderman, who is attempting to halt what he considers illegal gambling under state law. A hearing is scheduled Wednesday.

The companies say their games are legal and based on player skill.

© 2015 AP

Dave Lucas is WAMC’s Capital Region Bureau Chief. Born and raised in Albany, he’s been involved in nearly every aspect of local radio since 1981. Before joining WAMC, Dave was a reporter and anchor at WGY in Schenectady. Prior to that he hosted talk shows on WYJB and WROW, including the 1999 series of overnight radio broadcasts tracking the JonBenet Ramsey murder case with a cast of callers and characters from all over the world via the internet. In 2012, Dave received a Communicator Award of Distinction for his WAMC news story "Fail: The NYS Flood Panel," which explores whether the damage from Hurricane Irene and Tropical Storm Lee could have been prevented or at least curbed. Dave began his radio career as a “morning personality” at WABY in Albany.
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