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Sports

NY votes to legalize fantasy sports

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Opening sequence

Sports

NY votes to legalize fantasy sports

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COMING UP:NY votes to legalize fantasy sports

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Transcript

00:00:00
>> Basketball on Draft Kings. A big win for fantasy sports. Lawmakers in New York approving a bill Saturday to legalize and regulate the multi-billion dollar industry. Fantasy sports, where players draft virtual teams for football, baseball, and basketball, is drawing increased scrutiny since last year from Attorneys General of several US states, including Illinois and Nevada.
00:00:21
New York's Eric Schneiderman was one of the first officials to declare war on the industry, claiming it to be illegal gambling.>> The money is real.>> If passed the legislation would clear the path for Fan Duel, Draft Kings, and others to once again offer fantasy sports to millions of players in the state after being forced to pull out in March.
00:00:39
The bill which could add about $5.5 million to the state's annual revenue, now waits the approval of New York Governor, Andrew Cuomo. With the industry still under pressure, sources say Fan Duel and Draft Kings, once rivals are now in talks to merge.