DraftKings And FanDuel To Cease Offering College Fantasy Games
We recently reported on the NCAA wanting gambling on college games to be banned for March Madness. Their argument is that the very integrity of the amateur games is at stake when adding the element of real money prizes from DFS operators like DraftKings and FanDuel.
Well is seems that both DraftKings and FanDuel have decided to adopt a policy of cooperation and appeasement instead of trying to challenge every call to regulate their industry. It is pretty clear to all that the industry will be regulated in one way or another and that their honeymoon phase they have enjoyed the last few years is over. By adopting a pragmatic approach they hope to gain stability and legal clarity a soon as possible in order that the industry can operate without clouds of legal and other uncertainties hovering around it.
Their latest decision to suspend all contest involving college sports is another sign of this new strategy. Both FanDuel and DraftKings have “voluntarily” decided to take this decision after months of discussions with the NCAA. NCAA president Mark Emmert said in a statement,” We appreciate and commend DraftKings and FanDuel’s action to stop offering contests involving college, high school and youth sport. This action culminates months of hard work between all parties to reach a place that is good for amateur sports and most importantly, the young people who participate. We will work diligently with our member schools over the coming year to ensure such amateur sports ‘carve outs’ are included in pending states’ legislation.”
DraftKings went out of their way to be conciliatory towards the NCAA and said that they feel their suspending of contests on college sports is the “ best path forward for the industry at this time.”
FanDuel were reading from the same hymn sheet of DraftKings and said,” It is clear that this is an issue that matters to a variety of constituencies and we feel that the best path forward is to suspend offering these contests pending resolution on the issue within state legislatures.”