Daily fantasy sports companies seek gambling approval abroad
Top daily fantasy sports companies are fiercely rejecting the idea their rapidly growing industry should be considered gambling in the United States.
But FanDuel and DraftKings are OK with that label in the United Kingdom. They’re embracing it as a step toward global expansion.
U.K. gambling regulators granted a gambling license to DraftKings in August, while FanDuel applied earlier this month for a license as a "gambling software" company.
Jeffrey Haas, head of DraftKings’ international efforts, says there’s no contradiction in the separate efforts. He says DraftKings is simply approaching each jurisdiction case by case.
But Shergul Arshad, founder of Mondogoal, a licensed daily fantasy sports startup in the U.K., is among those calling it hypocritical.
Earlier this week, New York’s attorney general ordered DraftKings and FanDuel to stop accepting in-state bets because he believes they’re illegal sports betting operations. Both companies have challenged that in the state’s Supreme Court.