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  • MikeSos760

    http://www.nydailynews.com/sports/congress-hold-hearing-daily-fantasy-sports-industry-article-1.2626420

  • tbuzz2234

    I was surprised to read and learn that no one from Fanduel or DraftKings (including Eccles/Robbins) will be attending these hearings. IMHO, this will reflect extremely badly on the industry as a whole. Who has more at stake with these hearings than those two companies?

  • bigloser11

    I retired from state govt.Reading the article 2x I came away w/ this-

    any federal involvement/law will trump the states.
    the number of DFS players is nearly 20 % of the US population.
    states including NY are working on something, not necessarily prohibition.
    it is hard to make a clear distinction of skill and gambling in this context.

    Finally it will take months of hearings/ recommendations.basically govt speed.

  • PJGuin23

    DFS Tax Guru

    My take- Some states want sports betting and think DFS is the opening argument. PA and NJ especially.

  • bigloser11

    @PJGuin23 said...

    My take- Some states want sports betting and think DFS is the opening argument. PA and NJ especially.

    Couldn’t agree more.

    I think technology is pushing it that way.The states need $$, spend more, and there isn’t room for more
    taxes, fees etc.The internet allows things to be out in the open, the govt doesn’t need agents or phone taps
    to catch bookies like in the old days.Back alley gambling will still exist for those w/ no credit. The rest of
    us w/ credit cards or $$ online will play, govt will skim something—either a fee or taxes on winnings ( or both)

  • jlnich84

    https://www.congress.gov/committees/video/house-energy-and-commerce/hsif00 Live Stream.

  • billholler

    Congressman Burgess makes me ashamed to live in Texas. Knows nothing about fantasy sports and admits that fact but spending so much energy arguing against it with unfathomable “what ifs”.

    In his world, a 16 year old only cares about sports, can set up an account with a fake drivers license which has his physical address on it, deposit money with a stolen credit card that has the physical address that matches his drivers license, have the knowledge to actually compete against people that play for a living, find a back door around an IP block, receive a 1099 if he should happen to win and file a falsified tax return all without anyone at DK or FD catching on to any of it.

  • jlnich84

    @billholler said...

    Congressman Burgess makes me ashamed to live in Texas. Knows nothing about fantasy sports and admits that fact but spending so much energy arguing against it with unfathomable “what ifs”.

    In his world, a 16 year old only cares about sports, can set up an account with a fake drivers license which has his physical address on it, deposit money with a stolen credit card that has the physical address that matches his drivers license, have the knowledge to actually compete against people that play for a living, find a back door around an IP block, receive a 1099 if he should happen to win and file a falsified tax return all without anyone at DK or FD catching on to any of it.

    Yea he seems to be a french fry short of a happy meal.

  • PJGuin23

    DFS Tax Guru

    @billholler said...

    Congressman Burgess makes me ashamed to live in Texas. Knows nothing about fantasy sports and admits that fact but spending so much energy arguing against it with unfathomable “what ifs”.

    In his world, a 16 year old only cares about sports, can set up an account with a fake drivers license which has his physical address on it, deposit money with a stolen credit card that has the physical address that matches his drivers license, have the knowledge to actually compete against people that play for a living, find a back door around an IP block, receive a 1099 if he should happen to win and file a falsified tax return all without anyone at DK or FD catching on to any of it.

    And the same guy doesn’t give 2 shits about Wall St. Bankers defrauding average Americans with mediocre financial knowledge. Sounds about right.

  • pmsimkins

    • 2014 FanDuel WFBC Finalist

    • 2015 FanDuel WFBBC Finalist

    Don’t worry the Texas politicians will be back to focusing on science denial, abstinence education, creationism in the classroom, getting rid of the EPA and all other manner of backasswardness soon enough.

  • PJGuin23

    DFS Tax Guru

    @pmsimkins said...

    Don’t worry the Texas polticians will be back to focusing on science denial, abstinence education, creationism in the classroom, getting rid of the EPA and all other manner of backasswardness soon enough.

    DFS can’t catch a break from either party. Glaciers will melt before a left-libertarian shows up. You either have to deal with the Nanny State left or the “everything is evil” right.

  • pmsimkins

    • 2014 FanDuel WFBC Finalist

    • 2015 FanDuel WFBBC Finalist

    Unfortunately the few “libertarians” are really just hardcore right wingers in disguise. You can have the freedom to do what you want as long as what you want to do exactly matches their “moral” vision.

  • PJGuin23

    DFS Tax Guru

    @pmsimkins said...

    Unfortunately the few “libertarians” are really just hardcore right wingers in disguise. You can have the freedom to do what you want as long as what you want to do exactly matches their “moral” vision.

    Oh I’m not a Ron/Rand Paul fan by any stretch. Gary Johnson is a little more palatable but even he’s nuts. On the political spectrum I’m at the top of the triangle between Centrist, Liberal and Libertarian.

  • billholler

    @pmsimkins said...

    Don’t worry the Texas politicians will be back to focusing on science denial, abstinence education, creationism in the classroom, getting rid of the EPA and all other manner of backasswardness soon enough.

    I found this to be painfully amusing.

  • ballabal

    @pmsimkins said...

    Don’t worry the Texas politicians will be back to focusing on science denial, abstinence education, creationism in the classroom, getting rid of the EPA and all other manner of backasswardness soon enough.

    This week they are arguing about the bathroom stuff. We have many what you call low-information voters here. If just 50% of eligible voters actually voted these nut cases would be gone. TX is an embarrassment. I wish I could find another job and GTH out of TX.

  • billholler

    @ballabal said...

    I wish I could find another job and GTH out of TX

    Mentioned this in another thread, but we put our business up for sale just to get out of Texas. Mississippi approving DFS was the final straw.

  • brianupton20

    When the guy from I think New Jersey was trying to make DK look like some kind of hypocrite by asking if DRAFTKINGS doesn’t think it’s gambling then why did they file for a gambling liscinse in the Uk even after it was explained that yet UK DEFINES IT AS GAMBLING WETHER ITS CHANCE OR SKILL why did nobody speak up and say well the filed because they have to to be able to operate wether they agree with the U.K. Defenition of gambling or not just because they don’t agree with it doesn’t mean any company would let that stop them from operating if all they had to do was apply for a liscinse. I know DK and Fanduel say there was nothing to gain by being there they should have been willing to answer a few tuff questions in order to have a chance to answer a lot of questions that needed answered in there defense to a bunch of uninformed people I can’t think of one thing that was accomplished today with that heafing

  • Stewburtx8

    • 2012 FanDuel WFBC Finalist

    @brianupton20 said...

    When the guy from I think New Jersey was trying to make DK look like some kind of hypocrite by asking if DRAFTKINGS doesn’t think it’s gambling then why did they file for a gambling liscinse in the Uk even after it was explained that yet UK DEFINES IT AS GAMBLING WETHER ITS CHANCE OR SKILL why did nobody speak up and say well the filed because they have to to be able to operate wether they agree with the U.K. Defenition of gambling or not just because they don’t agree with it doesn’t mean any company would let that stop them from operating if all they had to do was apply for a liscinse. I know DK and Fanduel say there was nothing to gain by being there they should have been willing to answer a few tuff questions in order to have a chance to answer a lot of questions that needed answered in there defense to a bunch of uninformed people I can’t think of one thing that was accomplished today with that heafing

    Nothing was accomplished. It was pretty awful to watch. I did not think the representative from the FTSA represented Draftkings and Fanduel well. Like you said, the answer to Pallone about the UK should of been easy, but it was not answered very well in my opinion.

    I understand why Fanduel and Draftkings did not show up though as this whole congressional hearing was due to Pallone trying to get sports betting legalized and seeing Daily Fantasy Sports as a good first step towards his argument. He sees them as very similar. So DK and FD would have just been bombarded with questions defending DFS as a skill game and not gambling.

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