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The FanDuel story follows a path similar to that of DraftKings as a business that has expanded beyond its daily fantasy roots into online sports betting and gaming. What’s noteworthy about those figures is they don’t even include revenue numbers from tribal casinos or state lotteries. When we account for tribal gaming, we can safely double those numbers to even begin to get an accurate look at the total economic impact of casino gaming on the US economy. The DOJ sat on the decision for two years but finally issued a memo in 2011 that would have major implications extending far beyond online lotteries in New York and Illinois. In the memo, the DOJ stated that not only were the lotteries’ plans A-OK but that the DOJ would interpret the Wire Act from now on as applying only to sports betting. The growth of online gambling through the late 90s and early 2000s resulted in lawyers and judges attempting to apply outdated gaming laws to an entirely new technology.
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