New Jersey Closing in on Fantasy Sports Regulation

New Jersey has taken a step closer to legalising daily fantasy sports (DFS) after a state Assembly committee cleared a bill that would regulate the industry.

The proposed legislation sets out rules to charge DFS companies a fee of 10.5% on gross revenue in order to legally operate in the US state.

Although the exact amount that the state would collect under this structure is unclear, the website said Chris Grimm, a consultant for DFS firms DraftKings and FanDuel, estimated the figure at approximately $1 million (€933,532) each year.

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