A Daily Fantasy Sports bill will have to be approved by both houses and signed by the governor.
US.- Capital city of New York State, Albany, is presenting a gaming bill to the Senate in order to legalise Daily Fantasy Sports –DFS–. The Committee on Racing, Gaming and Wagering of New York State made public yesterday its agreement to regularise the sector with the possibility of including other popular online games as well.
Legislative leaders in Albany drafted the proposal, which establishes the conditions for the operations. Under the Daily Fantasy Sports regulation FanDuel and DraftKings, among other suppliers, would have the option to pay a US$150,000 fee to the State or 1.5 percent of the previous year’s revenues and turn over 15 percent of revenues discounting the amount paid for prizes to players.
John Bonacic, chairman of the New York State Senate’s gambling committee, commented that the new bill does not consider Daily Fantasy Sports as gambling, neither games of chance. Classifying DFS as games of skill would not affect the 2006 federal law that prohibits online gambling. As Bonacic, Republican Senator, added, the legalisation of the sector would generate US$3.5 million to US$5 million per year for the New York State.
The chairman also commented that the “technical amendments” to the bill still needed to be checked and approved by both houses of the State Legislature, as well as be signed by the Democrat Governor Andrew Cuomo. Bonacic is truly optimistic about the legalisation. “Fans love the game. So why would the State of New York not give them the opportunity to continue to play?” Bonacic concluded.