From Financial Post
BOSTON — Leading daily fantasy sports companies DraftKings and FanDuel have agreed to pay a total of $2.6 million to resolve an investigation by Massachusetts Attorney General Maura Healey into what she called “alleged unfair and deceptive practices” by the companies that left some participants in the contests inadequately protected.
Healey, a Democrat, says the companies co-operated with the investigation and have since made significant changes to their business models to protect consumers, including protections for minors.
She says the money will be used by the state for consumer protection programs.
Healey says the investigation began before her office drafted regulations governing daily fantasy sports last year. Since then, she says, her office has implemented consumer protection regulations for the industry.
DraftKings is Boston based. FanDuel is headquartered in New York.
Daily Fantasy Sports betting has created problems for regulators all over the world mainly because the activity for some regulators may be considered real money gambling. The skill game debate carries on in jurisdictions such as the state of Massachusetts in the USA where the Massachusetts state commission voted recently to recommend that DFS games be classed as a form of gambling and not a game requiring skill.
The 5 to 3 vote on the issue is a big snag for DraftKings, the industry leader which is headquartered in Boston, Massachusetts.
LAS VEGAS – The casino industry's largest lobbying group in the U.S. on Thursday rolled out a new code of conduct with consumer protection measures that it says are meant to promote responsible gambling.The code of the American Gaming Association calls on casino operators to be more transparent with patrons and provide training to employees. Its announcement in Las Vegas came within months of two high-profile criminal cases that drew attention to the effects of compulsive gambling as authorities believe the perpetrators were problem gamblers.
The new code calls on casino operators to generally explain patrons the odds of winning or losing at various games and to not use advertising that contains claims that gambling activity will guarantee a person's social, financial or personal success. It also includes training requirements for employees on procedures for dealing with underage gambling and other issues.
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