Yahoo Is Included In The Fantasy Sports Industry Investigation

Yahoo also falls in the investigation being conducted on fantasy sports companies including DraftKings Inc. and FanDuel Inc.

The famous search engine and a fresh member into the business of an industry worth billions of dollar, Sports Fantasy is now getting in concern with others in the business such as FanDuel and Draftsking Inc., its competitors as well are now under an investigation by the US government. It daily sports payments are being examined for illegal sports betting.

New Yorks attorney general, Eric Scheiderman, filed a ban on Draftsking and FanDuel on Tuesday stopping the sports fantasy companies to running the business temporarily. This business has managed to be worth billion in very short span of time, here the sports fans can play the sports they enjoy and participate in competitions, if won they get price money as a reward. This brings in more customers, as money is the biggest motivation, and if one is getting paid for playing the sports games they enjoy then automatically it will be the most wanted entertainment online. Where there is profit and success rapidly, there are investigations and speculations.

The investigation made a new addition to the investigation which was Yahoo Inc., one of the spokesmen for the company said, “.Yahoo does not comment on legal matters. We are monitoring industry trends and events closely and believe that we offer a lawful product for our daily fantasy sports users. “The media giant’s events and trends of the industry are being monitored in detail in order to track any illegal activity and make sure if the company is offering lawful products for its daily fantasy sports customers.

Yahoo’s business has expanded to this platform not so long ago, here customers can make up teams online and participate in seasons of sports such as American football, baseball and hockey. At the beginning of the investigations the company wasn’t included till now, as it didn’t put on any advertisements on its platform that made fake promises to the customers of makes them rich quickly which was the case on other companies’ sports fantasy platforms. However the media company is doing the same things its rivals do on the services, it was included in the investigations as the attorney called the daily sports fantasy to be games of chances and not skill making little difference in the media company’s operations and other businesses in the industry. The search engine company is still running the games in New York regardless of this investigation; Draftsking is doing the same by offering games like it usually does.

Yahoo stock closed at $35.62 going red by -1.08% on November 19.