..

Lawmakers Looking to Tax, Regulate Daily Fantasy Sports

Written by:
Guest
Published on:
Apr/19/2017

CONCORD, N.H. (Associated Press) -- Fantasy sports companies estimate more than 200,000 people in New Hampshire are participating in their games.

Lawmakers are looking to get in on a piece of the cash.

A bill before the Senate on Thursday would make New Hampshire the latest state to legalize, regulate and tax fantasy sports run by companies such as DraftKings and FanDuel. Companies running fantasy games for the general public would have to register with the state, pay up to $5,000 annually and face a 5 percent tax. In fantasy games, players build fictional rosters of real athletes to compete against others for money. Players themselves wouldn't be taxed.

The state wouldn't see much money immediately, said Republican Rep. Gary Azarian, the bill's sponsor. But as the popularity of the games grows, New Hampshire would benefit, he said.

"It's going to be a global entertainment industry, the state of New Hampshire can get in on the ground floor of this," Azarian said.

DrafKings and FanDuel support the regulation, viewing it as a way to ensure they can continue operating. Nationally, a debate is raging over whether daily fantasy sports constitute betting or a game of skill. Both companies temporarily shut down in New York state last year after the attorney general sued, asserting the games constituted illegal gambling. They resumed operations in the fall under new regulations.

Eleven other states have regulations in place, said David Collins, a New Hampshire lobbyist for the two companies. By comparison, New Hampshire's taxes and fees are on the low end. New York, for example, charges operators $50,000 and a 15 percent tax.

The industry will be regulated by the New Hampshire Lottery Commission, which also oversees racing and charitable gaming. Charlie McIntyre, executive director of the commission, said he doesn't view fantasy sports as similar to sports betting. But, he said, regulation offers an opportunity to ensure the companies are not taking advantage of players.

"You want to make sure the consumers are getting what they're promised," McIntyre said.

The bill says no one under 18 can play fantasy sports and sets up protections to make sure players are paid what they are owed.

If the bill clears the Senate, it will head to Republican Gov. Chris Sununu's desk. A spokesman said he has "serious concerns" about the bill but would not elaborate.

Gambling News

Can I Place a Bet on the FanDuel App From California

Can I Place a Bet on the FanDuel App From California

The new FanDuel sports betting app is available to those living in the state of California but only internationally-licensed websites are accessible for real money bets from within the state. 

Vegas Strip Crime

Violence on Vegas Strip Leaves Tourists Terrified

Police say they found a man and woman shot overnight Saturday in front of the Paris Las Vegas hotel-casino.

State of Nevada Releases Covid Cases By Vegas Hotel, Casino

State of Nevada Releases Covid Cases By Vegas Hotel, Casino

Disease investigators have released a list of places where possible COVID-19 exposures have happened in Sin City, and they break down the numbers by casino/hotel property.  Oh, and it's ugly, especially if you happened to stay at the Cosmopolitan in recent weeks!

Can I Bet With BetOnline From Missouri

Can I Bet With BetOnline From Missouri

Missouri residents and visitors alike are more than welcome to place bets on the BetOnline website.  They have proudly served the US and worldwide market since 1999.  In fact, we here at Gambling911.com were one of the first to visit their office when they first set up that year.  BetOnline offers a generous welcome bonus and plenty of contests (max bonus $1000)

Can I Bet With MyBookie.ag From Indiana?

Can I Bet With MyBookie.ag From Indiana?

Indiana is set to begin offering mobile betting via in-state licensed apps, though diehard sports bettors regard the overseas sportsbooks as the crème de la crème. 

Syndicate