Go Premium
Login Register

Daily Fantasy Sports Regulation

Take your daily fantasy game to the next level.
Login Register
    Page 3 of 3
  • 1
  • 2
  • 3

It seems that over the past 2-3 weeks there has been a ton of negative press for DFS. Whether it be the baseless personal attacks on Ethan Haskell, Nevada coming in with a very conveniently timed banning of DFS in the state, StarsDraft seemingly sabotaging their DFS stake in the industry (or being so cautious as to pull out of states that haven't shown to display any public negativity towards DFS), or Marjor Media outlets running with scandalous claims that had no merit, DFS has taken a beating.

It seems like the dust is settling and I'm hopeful that cooler heads will prevail to bring thoughtful and helpful regulation to DFS. In my personal opinion, DFS is very different than Poker when it comes to government financial concern. In Poker, there were clearly laws being broken with wire fraud and the US government wasn't able to get a grip on the tax situation. Most of the DFS companies are either based in or have Headquarters in the US. These companies are able to be held accountable by US laws (can't say the same for offshore casinos) and DFS companies ensure 1099 forms are filed for players and in turn are doing as much as they can to ensure income taxes are paid on a federal and state level. It gets trickier if DFS were categorized as Gambling, which would complicate the tax code on a state level.

With that said, I created this thread so the DFC community can keep up with the DFS regulation and legislation news. I'll start it off with two news stories:

1. California legislator brought forth a Bill prior to the DraftKings Data Leak - http://wthitv.com/2015/10/27/rep-morrison-to-sponsor-bill-to-regulate-daily-fantasy-sports-sites/

2. NBA's Adam Silver supports regulation and makes a clear distinction on the leagues thoughts of legality - http://espn.go.com/espn/otl/story/_/id/13941819/nba-commissioner-adam-silver-favor-regulation-daily-fantasy-operators

3. Illinois introduces a Bill to Regulate DFS - http://www.wsj.com/articles/illinois-to-introduce-bill-to-regulate-daily-fantasy-sports-1445902199

2 years ago

Update on legal front:

Virginia - passed a daily fantasy sports bill to make it legal for state residents. The annual fee is high for smaller sites, so FSTA is working on bringing it down.

Maryland - had two bills in legislation, but neither passed. Legislators are about to go out of session, which will pause efforts until they come back to session, which is thought to be November.

Tennessee - AG came out with opinion that daily fantasy sports is illegal. No moves by DFS sites yet.

Alabama - AG came out with opinion that daily fantasy sports is illegal. No moves by DFS sites yet.

US Congress - to start looking at daily fantasy sports industry.

1 year ago

Good news out of Missisippi today. They combined the two bills that were presented to Senate and passed a bill that will allow DFS companies to operate until July of 2017. In the meantime, a DFS committee has been created and will evaluate the industry over the next year. This is a nice approach, which is think first, act once you have the data and facts. Good to see and good timing with Congress committee coming up in a few weeks.

1 year ago

Tennesse comes full circle and signs a DFS bill legalizing daily fantasy sports. Nice job everyone!

1 year ago

It's not done yet, but looking good. Getting close to the 6/16/16 deadline. Hoping, they get the bill updated and the Governor inks that signature!

http://www.buffalonews.com/city-region/state/deal-reached-to-permit-fantasy-sports-in-new-york-lawmaker-says-20160607

1 year ago

Missouri is officially on board with DFS - http://abcnews.go.com/Sports/wireStory/missouri-gov-nixon-signs-daily-fantasy-sports-legislation-39767792

1 year ago

Colorado joins the ranks as the 5th state to sign a DFS bill on Friday 6-10-16. C'mon NY!

1 year ago

Hell yeah! NY falls into place with a DFS Bill that should be signed on Monday 6/20/16. Hoping this is the domino for the other states to fall into line. Great job everyone!

1 year ago

So glad NY is back. Huge win for DFS.

1 year ago

Great news!!

1 year ago

If the USA kills online DFS, then another country will pick it up and you will still be able to play guaranteed. Too much money involved.

1 year ago

@derkday89 - yes, but we saw this with poker. It makes it tough on US players, less trust, etc. At this point, it looks good though. It's just going to take time before the various states pass regulation.

1 year ago
    Page 3 of 3
  • 1
  • 2
  • 3
  • Reply