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Tag: fantasy sports

Could FBI Investigation of Fantasy Sports Extend to MLB Team Owners, Executives?

On The ShelfBy Steve Neavling
ticklethewire.com

The FBI’s investigation into a popular daily fantasy sports operator could extend to team owners and executives of Major League Baseball, Forbes reports. 

The investigation involve DraftKings, which has a “special business relationship” with MLB, according to Forbes.

Forbes writes:

Although rarely discussed, the story behind DraftKings’ rapid rise to prominence is inextricably intertwined with its financial relationship with Major League Baseball.

Indeed, DraftKings was a relatively small company with only $1.4 million in seed capital when 34-year old C.E.O. Jason Robins was able to land a meeting through a mutual contact with Robert Bowman and Kenny Gersh from MLB Advanced Media.  After that April 2013 meeting, everything changed for both enterprises.

FBI Investigates Unregulated Fantasy Sports Industry That Is Exploding in Popularity

sports bettingBy Steve Neavling
ticklethewire.com

The FBI has opened an inquiry into daily fantasy sports websites amid complaints about insider information and predatory lending, the New York Times reports. 

The focus, according to players contacted by the FBI, was on Boston-based DraftKings, where an employee won $350,000 at a rival site.

The FBI also wants to know whether money was involved in states that prohibited betting on fantasy games.

Fantasy sites have become part of a billion-dollar industry that is unregulated but exploding in popularity.