July 2016 Media Coverage

Sunday, July 31st 2016

July 2016

At least 6 states adopt fantasy sports laws; 21 others don't
Published by AP, July 18, 2016

BOSTON (AP) — The daily fantasy sports industry notched some wins but failed to capture a majority of states after an all-out push this year to preserve its legality amid concerns the online games amount to illegal sports betting operations.

Six states — Colorado, Missouri, Mississippi, Tennessee, Indiana and Virginia — enacted laws legalizing and regulating games offered by Boston’s DraftKings, New York’s FanDuel and dozens of other smaller operators. They join Kansas, which passed a law legalizing the games last year.

But 21 other legislatures, including Arizona, Florida, Maryland and Washington, declined to take action this year before adjourning.

But Chris Krafcik, a research director at GamblingCompliance Research Services, a firm that’s been tracking the legislation, says the patchwork of differing state regulations taking shape could have serious implications for the relatively new industry. “Fifty states with 50 different sets of regulations will likely give rise to compliance costs that the fantasy industry — particularly smaller players — will struggle to absorb,” he says. “We can easily imagine a future, cost-prohibitive market controlled by a small number of large players.”

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