New Jersey Fantasy Sports Would Not be Regulated as Gambling

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.

More at NJ Online Gambling

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