NJ passes daily fantasy sports bill
New Jersey Assembly approved yesterday the daily fantasy sports (DFS) bill.
US.- The daily fantasy sports industry is getting ready to legally operate in the New Jersey market. Yesterday, the state’s Assembly passed the bill to expand the online gaming sector for local players, including residents and tourists. New Jersey is one of the few states that have approved comprehensive legislations on the iGaming industry.
Under New Jersey daily fantasy sports regulation, authorities would be allowed to begin the licensing process. The state’s Division of Consumer Affairs would be in charge of permissions and control of the operations. Daily fantasy sports companies have been offering services since they arrived to the market, but the lack of an official legislation has led to several closures.
Legal operators in New Jersey would have to contribute with a quarterly fee of 10.5 percent of gross revenues. “This ensures that people can enjoy fantasy sports without being taken advantage of,” commented Democratic Assemblyman John Burzichelli, a co-sponsor of the bill, to the Star Tribune newspaper.
The vote ended at 56-15 yesterday at the Assembly chamber, three legislators also abstained. The bill A3532 would allow current racetrack and land-based casino operators to officially apply for daily fantasy sports licenses. According to the nonpartisan Office of Legislative Services, the legal sector would generate US$6.6 million in revenue annually in New Jersey.
