Illinois gets ready for DFS regulation
A bill to legalise and regulate the DFS industry in Illinois has been introduced in the General Assembly.
US.- Rep. Michael Zalewski, D-Riverside, introduced a bill that would allow daily fantasy sports (DFS) in Illinois. According to him, the regulations that he proposed are designed to protect players that gamble in the state.
“I think daily fantasy sports continues to be operating in a regulatory vacuum.This has been going on for two or three years now where their sites have operated free and clear of regulatory laws or tax rates,” he said, and detailed that the bill establishes an age restriction of 21 years old, as well as the prohibition of employees of the providers to play. An annual independent audit would also be created to make sure that the companies are complying with the requirements set.
Zalewski confirmed that the correct taxation of the DFS industry in the state could boost the revenue used to help pay for schools and other social services. “There’s untapped tax revenue that would go in either schools or infrastructure or whatever the legislature deems appropriate, which we’re not taking advantage of right now. We’re in a state that’s $14 billion behind in paying its bills.”
Despite the details of the effort, other officials, like the Illinois Gaming Board, expressed their concerns: “In a casino, we monitor everything. We have surveillance and a central computer system. This would be an outside computer system, probably located outside of Illinois,” said Caled Melamed, part of the local gaming board, as reported by The State Journal-Register. Zalewski claimed that the difficulties are obvious but if other states can manage the industry, so could Illinois. “I just believe the Illinois Gaming Board is able to do the things that other states are able to figure out.”
President of RotoWire, a provider of information and statistics of the DFS industry, said that fantasy sports are not a competitor to traditional casino games. Marc La Vorgna, spokesman for both FanDuel and Draft Kings, said that the companies support the legislation.
