Internet Gambling

News & Analysis as of

SEC Fines Fantasy Stock Market App Developer

The Securities Exchange Commission (“SEC”) recently fined New York-based Forcerank LLC (“Forcerank”) $50,000 in connection with charges that Forcerank’s fantasy stock market mobile app illegally offers complex derivative...more

SEC Says Mobile Phone Game is an Illegal Security-Based Swap

I previously discussed an SEC Investor Alert which said fantasy stock trading for small amounts of money can violate provisions of securities laws implemented by the Dodd-Frank Act. According to the SEC, the terms “swap,”...more

Skin in the Game: Video Game Publisher Dodges Teenage Gambling Suit, But Must Address State Regulator Concerns

On October 4, 2016, a federal court dismissed a putative class action against Valve Corporation (“Valve”) regarding its popular eSports game, Counter Strike Global Offensive (“CS:GO”). Specifically, the class claimed Valve...more

SB356: Senator Coley Proposes Daily Fantasy Sports Contest Legislation

On September 26, 2016, Senator Bill Coley (R-West Chester) introduced S.B. 356, which if enacted would amend Ohio gambling law to expressly define daily fantasy sports (“DFS”) and e-sports contests that charge a commission...more

Michigan to Legalize Fantasy Sports?

The Michigan State House of Representatives recently introduced legislation proposing to exempt certain fantasy sports contests from the prohibition against gambling contained in the State’s penal code. The proposal is the...more

New York Issues DFS Permits

Just days after a New York State’s Daily Fantasy Sports law was passed, the New York Gaming Commission announced it has issued temporary permits to 5 DFS operators. The companies are DraftKings, FanDuel, Yahoo, Fantasy Draft...more

Fantasy Sports Bill Proposed for Nevada

On August 23, 2016, the two largest daily fantasy sports (“DFS”) operators, DraftKings and Fan Duel, will be presenting their proposed Nevada daily fantasy sports legislation (the “Proposed Bill”) to the Nevada Gaming Policy...more

New York’s Fantasy Sports Law at Work

On August 3, 2016, Governor Andrew Cuomo signed a law legalizing fantasy sports in New York. The timing is critical to the industry, as it may enable major fantasy sports providers to reopen operations in New York by the...more

Polish Gambling Market on the Eve of Revolution

On July 20, the Polish government adopted a draft amendment to the Polish Gambling Act (“Draft Amendment”). The Draft Amendment was notified to the European Commission and until October 31, 2016, awaits comments and...more

Massachusetts Becomes Ninth State to Legalize Daily Fantasy Sports

Massachusetts Governor Charlie Baker has signed into law a bill to legalize daily fantasy sports in the Commonwealth. Massachusetts is the ninth state to legalize daily fantasy sports, and the eighth to do so this year. The...more

New York Legalizes Daily Fantasy Sports

Governor Andrew Cuomo signed into law a bill to legalize daily fantasy sports in New York. This is the eighth state to legalize daily fantasy sports, and the seventh to do so this year. With the start of the NFL season just...more

Massachusetts Beats Buzzer With New Fantasy Sports Law

With the State legislative session set to expire, Massachusetts lawmakers passed a bill late Sunday night to formally legalize daily fantasy sports in the Commonwealth. While other states that have recently legalized fantasy...more

Emerging Trends Newsletter - Q2

We are thrilled to bring you the 2nd installment of Stinson Leonard Street's Emerging Trends newsletter. Recent Delaware Supreme Court Opinion Limits General Personal Jurisdiction for Foreign Corporation - Recent...more

Will Massachusetts Soon Need a Lottery Smartphone App?

In addition to scrolling through their email and reading the news, commuters on the T might soon be able to use their smartphones to play the state lottery. With only a matter of weeks remaining in this year’s legislative...more

Big Leaguers: Daily Fantasy Sports Scores Major Legislative Victory in New York

From the Stanley Cup to the NBA Championship, there were some major sports victories these last few weeks. Championship cities celebrated with fans flooding their streets for victory parades. But one sports victory—a win...more

Massachusetts Gambling: Daily Fantasy Sports and the Lottery in the State House

All was relatively quiet on the daily fantasy sports (DFS) front in Massachusetts after Attorney General Maura Healy issued regulations for DFS in March. But legislative developments over the past few weeks suggest...more

How the Gray Bill Tries to Keep Out Bad Actors

The iGaming world is excited about Assembly Bill 2863—better known as the Gray bill because of lead sponsor Adam Gray—which would legalize and regulate intrastate online poker in California. A few weeks ago, the bill...more

Social Casino Survives Latest “Gambling” Lawsuit

It’s a familiar sight: rows of men and women, on a bus or a subway, hands and eyes glued to their phones. But they’re not talking or texting or e-mailing. They are playing slots, though not for real money. This is the world...more

Media, Sport and Entertainment Intelligence - May 2016

Welcome to the latest issue of Media, Sport and Entertainment Intelligence, offering you a selection of the latest and most impactful sector news worldwide. ...more

Italian Game Agency to Issue New Rules for Betting on Virtual Events

The Italian Game Agency is issuing new rules for betting on virtual events. Draft of a new decree (the “Decree”) was notified to the European Commission on March 31, 2016. The EC will verify that the Decree complies with...more

Good Things Happen In Threes: Tennessee Becomes Third State To Enact DFS Law

On April 28, 2016, Tennessee Governor Bill Haslam signed the Fantasy Sports Act into law. The Act expressly defines fantasy sports contests as games of skill and regulates them. Passage of the Fantasy Sports Act makes...more

New Jersey Issues Bulletin Clarifying Licensure Standards for Internet Gaming

Today, the New Jersey DGE issued a “Director’s Advisory Bulletin” clarifying how it would apply its suitability rules to gaming license applicants who conduct internet gaming in other jurisdictions. If you offer a game that...more

Alabama and Tennessee AGs Issue Opinions on Fantasy Sports

Alabama and Tennessee have become the most recent states to weigh in on the legality of daily fantasy sports (DFS) contests. Last week, the attorneys general of the two states issued opinions declaring such contests to be...more

Media, Sport and Entertainment Intelligence - March 2016

Welcome to a new edition of Media, Sports and Entertainment Intelligence; this new version aims to provide an overview of what we see coming up on the horizon that could impact businesses in the Media, Sports and...more

Online Poker: A New Way to Bank?

In light of Tax Day (note that it’s on the 18th of April this year due to a holiday on the 15th) we want to point out a curious ramification from a federal case concerning online gambling, tax reports, and foreign...more

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