The State of Arkansas became the eleventh to legislate the daily fantasy sports industry with real-money betting systems.
US.- Daily fantasy sports (DFS) industry has legally expanded to Arkansas, the 11th State to approve a complete regulation on the real money betting sector. According to Legal Sports Report, last Monday Arkansas’ Governor Asa Hutchinson signed the legislation allowing it to become effective. The daily fantasy sports industry is very popular across the United States, although few governments have set legal conditions of operations.
Meanwhile, other States such as Georgia, Illinois and Texas are debating a further implementation of similar projects. So far, daily fantasy sports operators have only been offering legal platforms in Colorado, Indiana, Kansas, Maryland, Massachusetts, Mississippi, Missouri, New York, Tennessee and Virginia. However, this modality of gaming operates in markets where legislators have not approved related laws yet.
Under the legislation, main operating brands such as American DraftKings and FanDuel are landing in the regulated market to offer the latest technology. Authorised operators will contribute with the State’s financial income with 8 percent of the industry’s revenue. Arkansas’ HB2250 does not contemplate consumer protection or actual regulation of the industry, in contrast with other states’ legislation.
It is expected that key States legislate the industry in the following months. Arkansas was the first State to make it effective since last January.