An Interest In:
Web News this Week
- March 28, 2024
- March 27, 2024
- March 26, 2024
- March 25, 2024
- March 24, 2024
- March 23, 2024
- March 22, 2024
April 4, 2012 06:44 pm GMT
Original Link: http://feedproxy.google.com/~r/Techcrunch/~3/9eNcn7IfQTk/
FanDuel Raises Another Round For Its Clever Side-Step Of Gaming Laws
Daily fantasy sports operator FanDuel gets around online betting laws in the US thanks to daily fantasy sports games being exempt under the carve out in the 2006 Unlawful Internet Gaming Enforcement Act. That means it's virtually a license to print money legally in the US.FanDuel says its revenues hit 4x in the past 6 months with the company giving out over $10m in fantasy payouts in 2011 and it plans to pay out up to $4m per month for the baseball season. Off the back of that success today the site has raised another $1.3m round of funding from existing investors, including Pentech and Piton Capital taking its total raised to date to $7m.Original Link: http://feedproxy.google.com/~r/Techcrunch/~3/9eNcn7IfQTk/
Share this article:
Tweet
View Full Article
Techcrunch
TechCrunch is a leading technology blog, dedicated to obsessively profiling startups, reviewing new Internet products, and breaking tech news.More About this Source Visit Techcrunch