Yahoo caught by New York Attorney General Investigations for its sports betting services online.
Online sports gambling sites are currently in the New York Attorney rifle scope. Especially those operating in the New York market. He decided to go and conduct some investigation against Yahoo sports site. This is particularly what has been revealed by the AFP. Eric Schneiderman began these surveys months ago because he suspected Yahoo of cheating on these platforms.
Yahoo better be careful.
The New York Attorney General Eric Schneiderman launched a major offensive against online sports gambling sites which he suspects of cheating. He recently decided to also conduct the investigation against Yahoo. Indeed, Yahoo has a platform offering sports gambling online. These information were brought up by American medias.
Yahoo is however not the only one. The prosecutor has already launched a battle against two other sites that operate on the market. This is FanDuel and Draftkings. He has also prohibited New York players to place bets on these platforms. However, the two sites are not convinced of the arguments of Eric Schneiderman and decided to do otherwise. This means that they continue to collect bets from players residing in New York.
Eric Schneiderman has decided to go to court as an emergency procedure so that both sites could stop collecting wagers from New York players. According to FanDuel and Draftkings, the arguments of the Attorney General are unfounded. He also accused them of offering games of chance and gambling non sports related like slots and table games.
How does Yahoo Sports works?
Yahoo operates in sports gambling online through Yahoo Fantasy Sports Daily. It is available in 43 US states and Europe. It offers regular competitions. The principle is based on a fairly simple operation. Virtual league play and in return the players can place bets and win. With this activity, they have already reached the threshold of billion of Dollars.
The tournaments are based on the actual performance of athletes. Players can cash out up to a million dollars, but they must first place a bet. Currently, Yahoo benefits from the absence of both Draftkings and FanDuel giants which are more focused on the E-sports area. But it should not last for long. In the meantime US states are starting to really dislike these activities.
Read also: Esports, a new way to gamble online.
5 states have already issued a ban against these practices. In Nevada a procedure similar to the one of the Attorney Shneiderman has already started. Although in some states they consider that online sports betting are not the same as games of chance like slots and other casino games. But many says otherwise.
To recall, in most states in America, online gambling is banned.
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