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BREAKING: Nevada Gaming Control Board bans daily fantasy sports websites from Nevada. Says it’s gambling Story coming @reviewjournal #RJnow

Letter: http://gaming.nv.gov/modules/showdocument.aspx?documentid=10481

Nobody can be surprised about this

Sky is falling posts incoming.

Although I am a little worried to be honest.

What does that mean for the big vegas tournament?

Doesn’t ban DFS, just requires them to get a license, again Nevada has the some of the most stringent state codes on gambling in order to protect casinos…

Also let us not forget there is a federal law on the books that allows for DFS through the fantasy sports loophole, the DFS sites could sue in court to get the law thrown out or not applied to DFS

We are of the opinion there is zero chance they will grant them any licenses.

Yeah it’s not surprising given that Nevada is going to try and protect their casinos from any competition.

Everything seems to be going against DFS these days, which has me really worried. Over the last year, DFS has become my number one hobby and it’s going to really suck if it goes away.

I don’t think that is necessarily the case, they want a piece of the pie through taxation and regulation… if they don’t even give them a chance to file for a license it could get ugly in the courts

Unless they get a chunk of the pie I’m sure. Maybe they’ll at least do in house contests?

It is just getting too big, and starting to dent casino revenue. Every state that has fierce opposition to it contains casinos. It’s just the reality of the situation.

Update: LVRJ story: http://www.reviewjournal.com/business/casinos-gaming/nevada-gaming-regulators-ban-daily-fantasy-sports-the-state

Too big too fast. I stand by that.

Anyone have an idea of what is going to happen with the live final that’s scheduled for Las Vegas in December?

All DK and FD have to do is apply for a Nevada gaming license

I would assume hosting a live event would qualify as operating in the state and sites will have to scramble to find another location ASAP.

With this turning into a state issue, if other states follow and demand that operators obtain a license in each individual state, is this going to turn into poker where you can only play against other people from your own state? That’ll be a pretty quick way to kill off the industry.

Or get fast tracked for a license but realistically they are gonna have to move… most likely destination would be Dallas, Texas… rent out a Top Golf for the party would be the best plan

casinos are stupid and a waste of money, and there is nothing that says stupid gambling more than playing Slots…but Vegas wants that to stay and DFS to not….ok…..

Remember there is a federal law that specifically allows this activity, if it gets too big DK/FD will fight it in the courts and have pretty solid legal footing

They would first have to have a legit product. This may help spur these sights to straighten up their act. If they refuse to apply for a license it would say a lot about their site.

This is probably the best point. Today’s move is so big, it’s a line in the sand for DFS that has to be fought for survival. If a state can just “declare it gambling”, everyone dies within months.

Then they’re probably going to have to fight it now and not apply for a license in Nevada, otherwise they’re setting a precedent and agreeing by complying, right?

Exactly.

Guys, the federal law that allows the activity also specifically excepted states that considered it illegal (Montana, Louisiana etc). So I think states can and will certainly make the argument that they can ban it. The carveout isn’t going to be of much benefit. These sites have a tough road ahead legally.

But they arent saying its all of a sudden gambling, they are saying this has already been gambling based on their revised statues which precedes federal law. Reasons why Nevada and others and like Delaware? you can bet on sports.

States are allowed to have more stringent laws than federal laws. That’s perfectly legal.

This is maybe the worst thing to happen yet. I’m worried that a lot of states with no real interest either way will tend to take Nevada’s word for it and ban the sites as well, especially with the non-stop negative press of the last two weeks.