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Industry
July 23, 2024
Ex-DraftKings VP’s Fight Against Non-Compete Clause Hinges on State Laws
In a major legal contest over non-compete agreements, the First Circuit Court of Appeals has questioned the efforts of a former DraftKings executive to work for rival company Fanatics while bypassing his agreement. Michael Hermalyn who formerly was the VP of marketing at DraftKings is fighting against enforceability issues surrounding his non-competition clause which have […]
Sports
July 22, 2024
DraftKings Becomes WNBA’s Official Sports Betting and DF Partner
Sports entertainment giant DraftKings has unveiled a major partnership agreement with the Women’s National Basketball Association (WNBA). Per the deal, the operator will serve as the league’s official sports betting and daily fantasy partner. According to the official announcement, the deal will provide DraftKings with rights to WNBA league and collective team intellectual property, allowing […]
Sports
July 15, 2024
Bettor Misses $1M Parlay Win after England’s Loss to Spain in Euro 2024
A bettor who had the option to cash out their three-legged wager for nearly $400,000 ahead of the final of the European Championship 2024 this Sunday turned down the offer. This resulted in the bettor’s loss who likely won’t ever forget how Spain won against England at the Euro 2024 final. The identity of the […]
Business
July 15, 2024
Rush Street Interactive Sale May Be Imminent, Suggests Report
Earlier this year, rumors emerged about the potential sale of Rush Street Interactive (RSI), the leading betting and gaming operator with a presence across the United States and owner of the popular brand BetRivers. Although the rumors emerged in March, details are scarce with only DraftKings being named as a potential buyer of RSI. Despite […]
Sports
July 15, 2024
Analyst Highlights the Growing Competition in US Sports Betting
Following the repeal of PASPA in 2018, sports betting expanded exponentially across the United States. To date, close to 40 states offer some form of sports betting and with the expansion of wagering, competition increased. Currently, an overwhelming majority of the market share is held by two leading betting operators, namely FanDuel and DraftKings. Combined, […]
Legal
July 9, 2024
Legal Battle between DraftKings and Former Head of VIP Reaches New Juncture
The legal dispute between sports betting giant DraftKings and its former head of VIP, Michael Hermalyn, has intensified, with the US Court of Appeals now hearing arguments over whether California or Massachusetts law should govern the case. The legislative differences in these jurisdictions could impact the case’s resolution, motivating this ongoing debate. The Choice of […]
Industry
July 9, 2024
New Jersey Fines DraftKings over Revenue Reporting Violations
New Jersey’s gambling regulators have slapped the American gambling juggernaut DraftKings with a $100,000 over what they called “unacceptable conduct.” According to the state’s gambling authority, DraftKings had provided inaccurate sports betting data to the state. The violation in question involved overstating the amount of money spent on parlay bets and reporting wrong figures. As […]
Business
July 9, 2024
Wall Street Analysts Bullish on FanDuel and DraftKings’ Long-Term Potential
According to Wall Street analysts, investors are increasingly considering FanDuel and DraftKings as major players in the sports betting and iGaming sectors. FanDuel and DraftKings Lead the Pack in New York’s Sports Betting Market David Katz of Jefferies Equities Research said that FanDuel and DraftKings had been the center of attention for investors, especially in […]
Sports
July 4, 2024
DraftKings Eyes Potential Sale of Vegas Sports Network
DraftKings is said to be thinking about selling the Vegas Sports Information Network (VSiN). VSiN is a Las Vegas-based sports betting radio network that the company bought for $70 million back in March 2021. Analysts are drawing parallels between this possible transaction and Penn Entertainment’s offloading of Barstool Sports last year, when Barstool went back […]
Sports
July 4, 2024
Court Decision Threatens DraftKings’ NFT Enterprises
DraftKings, the prominent online sportsbook operator, is grappling with significant legal and business challenges. A US Judge in Massachusetts recently denied DraftKings’ motion to dismiss a class action lawsuit related to its non-fungible tokens (NFTs), while the operator may also be considering selling off its unsuccessful VSiN media business at a significant loss. NFT Tech […]
