DFS sites DraftKings and FanDuel will stop offering their services to residents of New York State immediately, the attorney general’s (AG) office announced on Monday.
All wagers Are Off: nyc State AG Eric Schneiderman (left, seen here with Governor Andrew Cuomo in 2014) has agreed to keep back on his demand for billions in DFS and fines that are buy-in DraftKings and FanDuel until a September hearing in court.
This will be element of a settlement which will see the AG’s office keep from pursuing litigation that could hold both web sites liable for billions of bucks in player restitution and fines.
Final December, AG Eric Schneiderman amended their lawsuit against DFS and FanDuel to look for the return of all the buy-ins compensated by clients who played in New York State throughout 2015, along with a $5,000 fine per head.
With 600,000 clients collectively, New York represents the web sites’ second-biggest market after Ca, and liabilities would total around $3 billion in fines collectively, with millions on top of that in returned buy-ins.
Alternatively, the AG has agreed to postpone their litigation until September, when an appeal from the lawsuit will be heard.
Schneiderman initially took action contrary to the two sites using a cease-and-desist page in November, informing them that their operations in brand New York amounted to gambling that is illegal.
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