Underdog Fantasy exits New York, pays $17.5 million settlement

(PRESS RELEASE) -- The New York State Gaming Commission today entered into a settlement with interactive fantasy sports provider Underdog Fantasy regarding allegations of its operation of unpermitted contests in the State.

The company has indicated it will cease offering certain contest types in New York State unless permitted pursuant to New York State statutes and regulations. Underdog has been offering contests through its temporarily permitted subsidiary Synkt.

“This settlement is another example of the Gaming Commission looking out for the gaming public,” said Commission Chair Brian O’Dwyer. “We encourage fantasy sports players to play only through permitted or registered operators that are subject to our comprehensive regulations that protect New Yorkers.”