The question I get asked the most: "How the hell daily fantasy sports legal and online poker is not?"
Good question. The answer lies within the vagaries of the UIGEA, in which the horse racing industry and the daily fantasy sports industry got the benefit of a carve out in the Unlawful Internet Gambling Enforcement Act of 2006.
In 2006 with the passing of the UIGEA, online poker in America became outlawed on the federal level despite several major online poker rooms operating in the wide open over the next several years. The remaining rogue poker sites were forced to stop operations in April 2011 due to the events of Black Friday when the government shut down PokerStars, Full Tilt, and other gambling sites in direct violation of the UIGEA. As an immediate result of Black Friday, the online poker boom was official over and the daily fantasy sports industry boom began. Since then, the DFS market has flourished.
Daily Fantasy Sports... the most addictive thing you can do on your phone other than perhaps cocaine. Daily Fantasy Sports combines everything dudes love... sports, money, and a lack of commitment.
In the last couple of years, the exponential growth of daily fantasy sports got so redonkulous that millions in advertising dollars were thrown around everywhere, including a sponsorship deal with Draft Kings and the WSOP. In the first few weeks of the 2015 NFL season, you could not watch a single game being blitzed by multiple advertisements from the two biggest DFS sites.
Then the shoe dropped just as the public and policy makers was getting suspicious with the advertising bombardment. DFS got embroiled in their first scandal (when an employee of one DFS site won a huge contest on their rival site) and all hell broke loose. Even the FBI launched an investigation into the DFS industry. Everyone turned against them… including John Oliver.
Here's his take…