Last week the New York attorney general told popular fantasy footballs gambling sites DraftKings and FanDuel to stop taking bets from the state. Now Yahoo and their fantasy operations have come under scrutiny, per Reuters:
A probe by New York State’s attorney general into the fast-growing, multibillion-dollar daily fantasy sports industry has been expanded to include online media giant Yahoo Inc (YHOO.O), a person familiar with the matter said on Tuesday.
The move coincides with a court filing by Attorney General Eric Schneiderman on Tuesday seeking a temporary injunction that would shut down DraftKings and FanDuel, leaders among online companies offering paid-for daily fantasy sports contests.
Yahoo, which operates a daily fantasy sports site, was issued a subpoena by Schneiderman, the person familiar with the matter said. The company was not named in Schneiderman’s Tuesday filing.
Daily fantasy sports gaming “is nothing more than a rebranding of sports betting,” New York Attorney General Eric Schneiderman said in legal documents filed in a Manhattan trial court amid a widening probe. “It is plainly illegal.”
Fantasy football is worse than sports betting. It is the dumbest pastime our country has ever encountered. Spreadsheets, algorithms, funds, and time are all wasted on a crusty sofa in a campaign to be the ultimate football coach.
It is only a matter of time before the whole endeavor is banned and full grown men are sent back to the real world to play video games or gamble in the stocked market.
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Casinos should lobby, if they aren’t already to bring this betting into their business model. It would attract millennials and the casinos are already wired into the state’s’ tax scheme.
“Spreadsheets, algorithms, funds, and time”…This sounds eerily similar to certain industry we all participate in.
A lot of game theory based applied mathematics are played as a result of “games” like fantasy sports and poker. The study of these has plenty of real world application that’s beneficial to the world.
Of course the majority of people spend time that is wasted, but how many of this wasted time and resource would actually be spent doing something productive as an alternative anyways? How much of them would just watch sports anyways, or as you said waste time on video games?