A federal judge has dismissed a series of ambitious lawsuits aimed at forcing major sportsbooks to refund millions in player losses. The plaintiff, DC Gambling Recovery, had attempted to leverage the “Statute of Anne”, a 316-year-old British law, to sue industry leaders including DraftKings, FanDuel, and Caesars Sportsbook.
Closing the 1710 Loophole
The 1710 law, originally designed to prevent the British aristocracy from losing their estates at cards, voided gambling contracts and allowed third parties to sue for “triple damages” if a gambler failed to seek a refund themselves.
DC Gambling Recovery, which admitted to having no personal connection to the losing players, sought to exploit this ancient loophole for massive financial gain.
However, the defense, supported by Washington D.C. Attorney General Brian Schwalb, successfully argued that modern sports betting legislation effectively supersedes the 18th-century code.
Furthermore, local lawmakers recently passed the Budget Support Act for 2026, which retroactively amended the municipal code to permanently close such legal loopholes for licensed operators.
Flutter Entertainment Faces Market Headwinds
While the legal victory provides a reprieve, Flutter Entertainment (FanDuel) is navigating a volatile financial period. Since the start of 2026, its stock on the New York Stock Exchange has tumbled by over 50%. A disappointing Q4 report in February led to a single-day drop of 14%, leaving investors anxious ahead of the company’s annual general meeting in Dublin next month.
