California coming closer to daily fantasy sports regulation

The state is paving the road towards DFS's legislation.
The state is paving the road towards DFS's legislation.

The Government Organisation Committee passed a bill that would allow websites to legally offer DFS services.

US.- The AB 1437, would require websites operators to acquire a license to offer Daily Fantasy Sports (DFS) games in the state, to pay an annual regulatory fee, to undergo a background check and to pay taxes on profits and player winnings, made it through California’s legislature.

A few weeks ago, California’s Government Organisation Committee approved the bill with a vote of 17-1. Recently, the bill was given a further boost with the State Assembly’s Committee on Appropriations voting 15-0 in favour of introducing DFS’s regulations.

Eilers Research, an industry’s consulting firm estimates that DFS games could generate from US$3.4 billion to US$3.7 billion in entry fees and US$370 million in revenue this year, being California responsible for 15 percent of these totals.