Posts Tagged ‘Texas’

Tony Romo Talks DFS with Texas Lawmakers

 Tony Romo Talks DFS with Texas Lawmakers

Tony Romo is somewhat of a controversial figure in Dallas sports history. He played for the NFL’s Cowboys for over a decade, most of that as the team’s starting quarterback. He had his injury problems, but when healthy, he was generally quite good with moments of greatness. In 2014, the last season in which he was healthy (he played in 15 of 16 regular season games), Romo led the league in passer rating, completion percentage, touchdown percentage, and yards per pass attempt. Despite his regular season success, though, he only played in six playoff games, winning just two. Nevertheless, most fans in the state love him (it doesn’t hurt that he is a nice guy) and, as such, the now-retired Romo was honored by the state legislature last week with a ceremonial resolution.

While he was in the state capitol, Romo met with several lawmakers about the possibility of legalizing daily fantasy sports (DFS) in Texas. Early last year, Texas Attorney General Ken Paxton declared DFS to be illegal gambling. Based on the law, Paxton determined that because DFS is at least partially based on chance, an entry is thus considered a bet and therefore DFS is illegal gambling.

The two major DFS sites, DraftKings and FanDuel, disagreed with the decision, but only FanDuel withdrew from the market.

A bill to legalize DFS is present in both the Texas House and Senate; the House bill’s sponsor, Richard Raymond, is also the sponsor of the honorary Romo bill. According to the Dallas Morning News, that bill has “stalled in the House Calendars Committee.”

More than just being a former football player and a fantasy sports fan, Tony Romo has a financial stake in fantasy sports as a major equity holder in the National Fantasy Football Convention (NFFC), which he has scheduled to be held in Dallas this summer.

The NFFC’s founders describe the event as “a groundbreaking, interactive, and entertaining series of events, exhibits, and opportunities designed entirely for fantasy football fans nationwide, uniting fans with their passions at an unprecedented scale and scope.”

Romo and his partners tried to hold the first one at the Sands Expo and Convention Center in Las Vegas in 2015, expecting one hundred NFL players to show up and mingle with the attendees. The NFL, though, did not like the idea of the NFFC being associated with gambling (though the Expo has no gambling activities) and put a stop to it.

The thing was, it’s not like the NFL just told Romo he couldn’t host the convention. Instead, according to reports and Romo himself, NFL officials killed it by threatening players with suspensions if they attended. With the players out of the mix, the convention had no chance.

The NFFC was rescheduled for the following year in Los Angeles, but for some reason, the NFL also undermined it there. The NFFC sued the NFL as a result of the 2015 interference, but got nowhere. A lawsuit following last year’s debacle, though, is on track to go to trial in November.

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DFS Ruled Illegal in Texas

 DFS Ruled Illegal in Texas

Texas Attorney General Ken Paxton issued a written opinion Tuesday, declaring daily fantasy sports (DFS) to be illegal under current state law. The two leading DFS sites, DraftKings and FanDuel, have both issued statements disagreeing with Paxton, but it does not appear that either intends on withdrawing from the state any time soon.

It does not seem that Paxton has it out for DFS; he wasn’t “going after” the DFS big boys. Rather, the issued the opinion in response to questions asked of him by Texas State Representative Myra Crownover, who requested a ruling on a) whether DFS was legal and b) whether fantasy sports were legal if the house does not take a rake.

In answering the first question, he dove right into the “skill versus chance” argument, but ended said argument very quickly. Paxton wrote that while it may be true that skill plays a role in daily fantasy sports contests, it is unequivocally true that chance also plays a role.

“Texas law does not require that skill predominate,” Paxton wrote. “Instead, chapter 47 requires only a
partial chance for there to be a bet.”

“Texas courts have confirmed this plain language in the statute. And this office has previously concluded that ‘the plain language of section 47.01(1)…renders irrelevant the matter of whether poker is predominantly a game of chance or skill…If an element of chance is involved in a particular game, it is embraced within the definition of ‘bet’”

Paxton also shoots down the “actual contestants” arguments the DFS companies have frequently tried to advance. DraftKings and FanDuel try to convince lawmakers that fantasy sports contestants are the “actual contestants” competing in a game of skill, so bets they place do not count as gambling. Paxton says that the athletes in the football, baseball, etc. games are the “actual contestants.”

“For example, if a person plays in a golf tournament for an opportunity to win a prize, he or she is within the actual contestant exclusion to the definition of betting,” he wrote. “If instead the person does not play in that tournament but wagers on the performance of an actual contestant, he or she is gambling under Texas law. To read the actual-contestant exception as some suggest would have that exception swallow the rule.”

As to Crownover’s second question about the legality of fantasy sports if the house does not take a rake, Paxton said that that is likely ok, depending on the circumstances. Using season-long fantasy sports as an example, as season-long contests are often played with no rake, Paxton wrote that as long as the following conditions are met, the game is legal:

(1) the actor engaged in gambling in a private place;
(2) no person received any economic benefit other than personal winnings; and
(3) except for the advantage of skill or luck, the risks of losing and the chances of winning were the same for all participants

FanDuel responded, as expected, with a statement on its website:

Today’s advisory opinion by the Attorney General of Texas is founded on a misinterpretation of the law and misunderstanding of the facts about fantasy sports.  Fantasy sports has always been a legal contest of skill in Texas.  The Texas legislature has expressly recognized that payment of an entry fee to compete for prizes in a contest of skill is not illegal gambling. Texans have long enjoyed participating legally in a wide variety of contests on that basis.  The Attorney General’s advisory prediction that a Texas court might think fantasy sports fall outside that protection because fantasy sports contestants are not actually participating in the sports events disregards that the selection of a fantasy roster to compete against other contestants’ selections is a separate valid contest of skill all its own.

DraftKings also posted a response:

We strongly disagree with the Attorney General’s prediction about what the courts may or may not do if ever presented with the issue of whether daily fantasy sports are legal under Texas law. The Texas Legislature has expressly authorized games of skill, and daily fantasy sports is a game of skill. The Attorney General’s prediction is predicated on a fundamental misunderstanding of DFS. We intend to continue to operate openly and transparently in Texas, so that the millions of Texans who are fantasy sports fans can continue to enjoy the contests they love.

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When did you start playing Texas Holdem?

 When did you start playing Texas Holdem?
I commenced engage in Texas Holdem when I was ten, tiny income game titles with the household. $ ten, $ 5 minor video games. Be all around eight-9 individuals so they were exciting. When did you commence enjoying?
Btw: Sorry if theirs previously a thread on this! If their is, if you could link it, thatd be amazing 😀

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BILLIONAIRE: All I Know About Investing In Startups I Learned Playing Poker – Business Insider:poker player daniel negreanu

 BILLIONAIRE: All I Know About Investing In Startups I Learned Playing Poker   Business Insider:poker player daniel negreanu

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 BILLIONAIRE: All I Know About Investing In Startups I Learned Playing Poker   Business Insider:poker player daniel negreanu
BILLIONAIRE: All I Know About Investing In Startups I Learned Playing Poker
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A billionaire investing in Silicon Valley startups told to me the other day that he invests using the same strategy he uses to play poker, specifically Texas Hold'em. In Texas Hold'em, each player gets two cards for themself.

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Hi Card Player readers! – blog:betfair poker rakeback

 Hi Card Player readers! blog:betfair poker rakeback

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I've been playing poker practically every day since I was dealt my first hand in 2005 when my friends in University introduced me to no-limit Texas hold'em for the first time. I feel in love with the complex and competitive nature of the game,

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