The IRS said it intends to impose an excise tax on DFS contest entries, but legal experts believe the industry can delay the implementation due to ambiguities in the law. Confusion About Whether DFS Contests are Wagers An IRS memo said that DFS companies must pay a 0.25 federal excise […]
A decision by the IRS to require daily fantasy sports operators to pay a federal excise tax on DFS contests is spurring debate over the future of the industry. DFS Subject to Same Excise Tax as Sports Bets An IRS memo says the DFS industry will face the same 0.25 […]
DraftKings and FanDuel may be able to offer bets in Illinois as early as this weekend when Major League Baseball returns to play, with William Hill waiting in the wings. 5 Online Sportsbook Operators in Illinois with William Hill Coming Soon Sleuths discovered that DraftKings and FanDuel, the two biggest […]
This Fourth of July, you can root along and, maybe win some cash, by participating in DraftKings’s freeplay competition while watching rapid frankfurter ingesters in Nathan’s Famous Hot Dog Eating Contest on ESPN. The infamous contest isn’t going belly up due to the COVID-19 pandemic. Instead, it’s taking place at […]
DraftKings quickly became a stock market darling after its initial public offering in April, with shares more than doubling in less than two months. But after the fervor dies off, will the company – known for DFS, sports betting, and it’s growing online casino division – continue to be a […]
Despite the lack of live sports on which to offer daily fantasy games or live betting, DraftKings has seen its stock nearly double in the past month due to both the boom in online gaming and the company’s future potential. Investors See Big Potential As of midday Wednesday, the company’s […]
After going public last month, DraftKings saw its stock rise sharply today, despite posting a net loss of more than $68 million in the first quarter. DraftKings reported $88.5 million in revenue for the quarter, a 30% increase from last year. Analysts believe the company is poised for rapid growth […]
DraftKings will launch an online casino in Pennsylvania on Friday after completing a soft launch held on Wednesday and Thursday. DraftKings Continues Gambling Expansion Efforts The company, known more for DFS and sports betting, has expanded into the online casino market, having launched an online casino in New Jersey in […]
Players can now invest in DFS stock instead of just picking DFS rosters. DraftKings Becomes DKNG DraftKings went public on Wall Street today after announcing Thursday afternoon that its shares will trade on the Nasdaq exchange under the ticker symbol DKNG. CNN noted that the company decided to forgo the […]
A class-action lawsuit filed on behalf of DraftKings players against Major League Baseball and the Houston Astros struck out when a federal judge ruled against the plaintiffs on Friday. Judge: Teams Broke Rules, but DFS Players Don’t Get Compensation Judge Jed Rakoff of the Southern District of New York issued […]
DraftKings has launched a new charity initiative, #DKRally, which asks sports fans to rally for their communities on social media as the coronavirus pandemic grows across the globe. #DKRally Hopes to Raise $1 Million Through “#DKRally,†the DFS operator hopes to raise $1 million for United Way, the nonprofit that […]
FantasyDraft has temporarily stopped offering DFS contests as a result of the mass sports cancellations in the wake of the coronavirus pandemic. FantasyDraft ‘Unable to Offer Contests’ In an email sent to users, FantasyDraft CEO Stephen Krombolz wrote that the suspension of all US professional sports leagues has left the […]
DFS operators are continuing to run contests, even as the pool of available sports is shrinking due to leagues canceling games because of coronavirus-related concerns. Limited DFS Slates Available In a statement emailed to users and attributed to company president Matt Kalish, DraftKings said that it would “continue to offer […]
A Massachusetts man recently filed a class-action lawsuit against Major League Baseball, the Houston Astros, the Boston Red Sox, and MLB Advanced Media alleging that daily fantasy players were hurt financially by the recently unveiled sign-stealing scandal. First reported by the Milford Daily News, the lawsuit by Beverly, Massachusetts, resident […]
Jade Roper Tolbert, a former contestant on “The Bachelor,†won the DraftKings $2.25 million Fantasy Football Millionaire contest this weekend, earning a $1 million prize. But the win caused controversy in the daily fantasy sports community, with many accusing Tolbert of colluding with her husband in order to win the […]
Shares of Kambi Group PLC lost 30 percent on Monday’s news that DraftKings planned to acquire SBTech. Investors fear the acquisition could threaten the current multi-state partnership between Kambi and DraftKings. Kambi Group’s stock is often volatile. For example, its share price rose steadily after the Supreme Court struck down […]
Sports betting and daily fantasy sports company DraftKings will likely go public sometime in the first half of 2020, thanks to a merger with gambling technology firm SBTech. The merger is being facilitated by Diamond Eagle Acquisition, with all three companies combining to form a new firm that will take […]
It’s hard not to love free chances to win money, and as we march into football season the DFS sites are offering novices and veterans alike a chance at gratis moolah.
Outs and hits are not created equally in DFS – far from it, in fact, with some stats being worth so much more than others. As you hone in on which players to select for your baseball lineups, let’s look at some stats that are particularly valuable in scoring. Strikeouts […]
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