Flutter’s FanDuel will try to have US lawsuit dismissed this week
FanDuel and other gambling firms will argue in US court this week to dismiss a lawsuit seeking to recoup gambling losses under a 300-year-old law.Summary
Flutter Entertainment’s FanDuel, along with DraftKings and BetMGM, is attempting to have a lawsuit dismissed in a US court. The suit, initiated by DC Gambling Recovery, leverages the 300-year-old Statute of Anne, which allows gamblers to recover losses from winning parties. The firms argue the law has been voided by existing sports gambling legislation, a position supported by Washington DC Attorney General Brian Schwalb. DC Gambling Recovery contends that recent legislation clarified the Statute of Anne’s applicability to sports wagering, and that its retroactive application is constitutional. The case also touches upon the Professional and Amateur Sports Protection Act of 1992 (PASPA). Flutter Entertainment, the world’s largest online betting group, valued FanDuel at $31bn last summer, but recently reduced its full-year growth forecast due to favorable results for gamblers and investments in its new prediction market product, FanDuel Predicts.
(Source：The Independent)