Tag Archives: daily.fantasy.sports

More on the IRS Daily Fantasy Sports Memo (“DFS Is Gambling”)

Posted on August 20, 2020 by Russ

There has been some speculation in the gambling world on (1) why did the IRS memo on Daily Fantasy Sports (DFS) suddenly appear, and (2) is the IRS correct about the non-precedential memo? Chris Krafcik on Twitter asked, ” Has … Continue reading →

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Burying Your Head in the Sand

Posted on August 17, 2020 by Russ

One of my favorite sayings (and I am not the one who came up with it) is “The Tax Code Giveth, The Tax Code Taketh Away.” It’s not fair, but we have to live with it as it is, not … Continue reading →

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A Tale of Three States

Posted on February 3, 2016 by Russ

Hawaii, Indiana, and Mississippi are three states where daily fantasy sports (DFS) is being debated. The three states are representative of what is likely to occur in every state. Last week, Hawaii Attorney General Doug Chin issued an advisory opinion … Continue reading →

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Texas Attorney General: DFS Illegal in Texas

Posted on January 19, 2016 by Russ

Texas’s Attorney General, Ken Paxton, issued an opinion today that says that daily fantasy sports (DFS) is illegal under Texas law. The crux of Mr. Paxton’s argument is, Under section 47.02 of the Penal Code, a person commits an offense … Continue reading →

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Update on the Future of Daily Fantasy Sports

Posted on November 19, 2015 by Russ

So far, I’ve been accurate on my predictions. Back in February 2014 I wrote, Unfortunately, many states look at just an element of chance to determine if something is gambling. And there’s no doubt that daily fantasy sports have such … Continue reading →

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DFS Gets the Boot in New York

Posted on November 10, 2015 by Russ

New York State’s Attorney General, Eric Schneiderman, sent a letter to DraftKings and Fan Duel ordering them to cease offering their Daily Fantasy Sports (DFS) wagers games to New Yorkers. According to both ABC and ESPN, Attorney General Schneiderman sent … Continue reading →

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The Wagering Excise Tax and DFS

Posted on October 20, 2015 by Russ

I’m focusing on the tax aspects of daily fantasy sports (DFS) this week. It’s beneficial for DFS participants for the activity to be considered gambling. For political reasons (“gambling is a sin”) and regulatory reasons (gambling is regulated, skill contests … Continue reading →

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The Future of DFS

Posted on October 18, 2015 by Russ

If you watch any sports television, you’ve almost certainly seen commercials for the two leading daily fantasy sports (DFS) sites, DraftKings and FanDuel. Last week the Nevada Gaming Control Board announced that DFS is gambling under Nevada law. The Nevada … Continue reading →

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Taxes and Daily Fantasy Sports: The Duck Test

Posted on February 23, 2014 by Russ

If it looks like a duck, walks like a duck and quacks like a duck, then it just may be a duck. So said someone (this quote has been attributed to Walter Reuther among others), and it’s one of those … Continue reading →

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