Colorado legislators want to regulate DFS
The lack of legislation regarding Daily Fantasy Sports in the state concerns lawmakers.
US.- Colorado currently lacks bills that regulate Daily Fantasy Sports (DFS.) This concerns the state’s lawmakers who have gathered 30 legislatures with the aim of restricting, regulating or ultimately banning Daily Fantasy Sports operations. A bipartisan bill was introduced last Thursday, with the goal of creating a Colorado Office of Fantasy Sports in charge of drafting rules to ensure the games are played fairly and not as a front for illegal gambling.
The Fantasy Trade Sports Association agrees with the initiative as regulation is a way to ensure consumer protection and grants more legitimacy on games played by millions of Americans that have operated in a legal gray area. Peter Schoenke, chairman of the trade association and president and owner of Rotowire, a major fantasy sports website said: “Generally speaking, they’re doing something the industry supports.” And he added that market research indicates there are about 800,000 fantasy sports players from which around 150,000 play in the daily fantasy sports leagues, which offer huge payouts for an entry fee.
Under Colorado House Bill 1404, operators would undergo licensing and background checks to weed out felons, players would have to be 18 years old and those who think they might be addicted would be able to permanently bar themselves from playing. Violations could lead to loss of a state license to operate and penalties up to US$1,000 per violation.
House Democratic leader Crisanta Duran, one of the supporters of the legislation said: “My bill is an effort to codify important industrywide standards to protect consumers and ensure the integrity of all fantasy sports. Enacting this important legislation will ensure that all providers are taking the necessary steps to protect fantasy sports fans, and will give consumers peace of mind about the integrity of the games they love. It’s the legislature’s job to ensure that Coloradans who enjoy fantasy sports are playing in a regulated, safe environment, where they can be sure that they have a fair shot.”
