Maryland proposes DFS amendments

07/15/16

State’s Comptroller unveiled yesterday a gaming project to improve daily fantasy sports.

US.- Yesterday, Maryland’s Comptroller Democrat Peter Franchot released to the media a law proposal to improve daily fantasy sports regulation. The latest legislation aims at controlling DFS operators and protecting consumers, as well as assuring a right percentage of taxes.

Maryland’s daily fantasy sports bill establishes several conditions. Players under 18 years old will be banned from any land-based or online terminal, participants will be only able to deposit US$1,000 per month in their player accounts and credit extension will be prohibited.

Operators will be required to comply with tax laws and notify participants of their potential tax obligations, among other measures. Noncommercial fantasy-sports leagues, mostly operated by ESPN and Yahoo, will not enter into account in the gaming bill.

“Lawmakers and law enforcement officials can continue to discuss issues, but we need some rules in place for the benefit of Maryland consumers,” Franchot said. The daily fantasy sports legislation will only enter into force once the state legislature’s Joint Committee on Administrative, Executive and Legislative Review approved it.