A state Assembly committee cleared a bill that seeks the regulation of the industry.
US.- New Jersey continues its attempts to classify daily fantasy sports (DFS) as a game of skill with Bill A3532. The committee of the Assembly Tourism, Gaming and the Arts Committee voted 7-0 to pass the bill and let it continue its journey.
The bill sponsored by Ralph Caputo, Thomas Giblin, John Burzichelli and Vincent Mazzeo also establishes a tax between 9.2 percent and 10.5 percent of DFS gross gaming revenues (GGR). Steven Perskei, former Casino Control Commission Chairman, was one of the people who expressed their opinions on the subject, and said that DFS should not be classified as gambling under the definition of the New Jersey Constitution. If the bill accomplishes its purpose, the activity would be authorized and regulated by New Jersey Legislature.
Chris Grimm, consultant for DraftKings and FanDuel, told North Jersey that even though the final numbers are not certain yet, he estimates that the state would collect from DFS approximately US$1 million every year. On the other hand, Ralph Caputo said that New Jersey could collect more than US$5.8 million a year, a significantly better number than the one reported by the DFS consultant. He also said that he’s behind the bill because he considers that it could help consumer protection.
DFS giants FanDuel and DraftKings said during the debate on Legislative Bill 469 from Nebraska that they believe that without a proper regulation, their costumers won’t be able to get the protection that they need. Both DraftKings and FanDuel believe that DFS is not a game of luck since it requires skill to draft players, set a lineup and look up the opponents.