The clock is now ticking on Gov. Chris Christie officially signing A3532, a bill regulating daily fantasy sports (DFS) that was passed by the New Jersey Senate on Friday, June 30.
The measure, which sailed through the chamber by a comfortable 29-6 margin, would tax DFS operators at a rate of 10.5 percent of gross revenues each quarter.
Initial estimates are that the bill would net the Garden State approximately $6.6 million per year.
If passed, the bill would classify DFS as a non-gambling game of skill, which means that its oversight would not fall to the Division of Gaming Enforcement, which helps regulate the state’s land-based and online casino industry; instead, DFS would fall under the purview of the Department of Law and Public Safety, which operates under the supervision of the New Jersey Attorney General.
The bill also prohibits anyone under 18 from participating in DFS contests and bars the offering of any fantasy games linked to high school sports.
Fantasy Sports Now Legal in Kansas Kansas State Governor Sam Brownback has signed a bill that will legalise fantasy sports gaming activities in the US state.
Having received heavy support from the public and government figures, Bill HB 2155 was passed in the state senate by a vote of 37-1.
Signed by Governor […]
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 […]
Massachusetts May Consider Online Gambling & Fantasy Sports On Monday, the Massachusetts Special Commission on Online Gaming, Fantasy Sports Gaming and Daily Fantasy Sports met for the first time. The existence of the panel is a result of a daily fantasy sports bill the legislature passed in August. The bill legalized daily fantasy sports in […]