As New York Supreme Court Justice Manuel Mendez gears up Wednesday, Nov. 25, to weigh opening arguments in the case for and against the legality of daily fantasy sports gambling in the Empire State, the pending decisions have many in the industry wondering what will happen to the large bets placed on DraftKings and FanDuel by heavyweights ranging from the National Football League and Comcast to KKR & Co. That’s according to The Deal’s Michael Brown, who has been following the industry. Currently in New York there are loose guidelines that attempt to define a game of chance as something that depends on future events that bettors can’t control. New York Justice Mendez will hear opening statements from DraftKings, FanDuel and New York Attorney General Eric Schniederman as to whether participation in so-called ‘daily fantasy sports,’ or DFS, is gambling or a game of skill.
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