Is it time for daily fantasy sports to hit the showers in Texas? If the Jan. 19 opinion by Texas’ Attorney General is any indication, it may very well be: Ken Paxton’s office has taken the position that DFS may well constitute illegal gambling under the Texas Penal Code, over the objections of its two largest purveyors, FanDuel and DraftKings.
The DFS phenomenon has been, in a word, explosive. According to the Fantasy Sports Trade Association, the number of DFS players grew to more than 56 million worldwide in 2015, with no sign of slowing demand. DFS permits participants to enter fantasy games against other participants for a fee, assemble a team of professional athletes under a “salary cap” set by the site, then score points based on the statistical performance of those athletes in actual games. The owners of the highest-performing teams in each “game” receive cash prizes, of which the website (read: “house”) receives a rake.
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