New Jersey Regulates Fantasy Sports

New Jersey has joined the expanding list of US states that have passed legislation that allows and regulates daily fantasy sports (DFS). State Governor Chris Christie signed bill A-3532 yesterday (Thursday), after it was given approval by the Senate back in June.

New Jersey becomes the 16th state in the US to legalise DFS within its borders. DFS operators will be subject to a tax rate of 10.5% on all revenue collected via activities in New Jersey.

Citing the Office of Legislative Service, the New Jersey Law Journal has reported that legalised DFS could help generate up to $6.6m (€5.6m) a year in additional revenue for the state.

Other restrictions featured in the bill include a minimum age of 18 for players, a requirement for operators to apply for a permit in the state, as well as a number of consumer protections such as banning play by employees of DFS brands.

More at iGaming Business

Related Stories from This Week in Gambling:

  • 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 […]
  • 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 […]
  • AGA Says Congress Must Act on Sports Betting Ban Congressional action appears necessary if sports betting is to be legalized in Atlantic City casinos and elsewhere across the U.S. That’s the conclusion of American Gaming Association President Geoff Freeman following this week’s rejection of New Jersey’s effort to get  a court-ordered […]