California coming closer to daily fantasy sports regulation

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.