Mississippi Signs Bill Making Daily Fantasy Sports Legal

The war on Daily Fantasy Sports has started in 2017. And so far, the outcome is looking good for this multi-billion dollar industry.

Mississippi is the first state in 2017 to officially proclaim Daily Fantasy Sports legal for its residents. Earlier this week, Mississippi Governor Phil Bryant signed House Bill 967 which makes DFS legal. With the signing of this law, sites offering daily fantasy games may now line up to apply for a license.

Fees for said license are meager with a $5,000 charge to obtain, which is good for a period of three years. This pales in comparison to the $200,000 fee New Jersey charges for an online casino operator. The annual fee is $150,000.

Revenue is of course an added benefit of signing Bill 967. An 8% tax will be applied to all operators with a license which experts conclude will generate roughly $5 million per year for the state.

Other additions to the bill include a minimum age of 18 to play. Annual audits of each operator to ensure player funds are handled properly. And background checks.

While Mississippi is the first to pass such a bill in 2017, they are not the first to do so since the game was forced into the fight in 2015. New York became the first to openly regulate and legalize DFS in 2016. Many proponents of the game watched closely as New York’s decision would likely set the precedent for other states. Especially since FanDuel operated inside New York.

As of 2017, Daily Fantasy remains a contested topic among state legislators. While the game is neither legal nor illegal, most would rather see an official stance on the matter from state governments so that we don’t have the mess that online poker is currently dealing with in the United States.

Most of the sites offering Daily Fantasy Sports have taken away one lesson from the online poker regulation process. Most have chosen not to operate in states that have officially proclaimed the game to be a game of chance and in need of regulation.

Included in most online poker regulation bills, was the stipulation that any operator continuing to service American players would not be allowed to apply for a license for a set amount of time. States such as Alabama, Hawaii, Louisiana, Nevada and Delaware do not permit Daily Fantasy Sports at this time. All of the major operators have pulled out their services in all of these states.

The next big step is considered to be Texas. A state with a much larger population and influence on the rest of the country, Texas could set another precedent for DFS. All but FanDuel still offer their games inside Texas, but seeing what happens in 2017 could change the landscape dramatically.

Guest Author

GamblingSites.org is happy to bring you this post courtesy of one of our special guest authors.

Recent Posts

Georgia Shows Increased Interest in Legalized Sports Betting

“The Peach State” is starting to show an increased interest in sports betting as Georgia State Senator Burt Jones, R-Jackson,…

February 25, 2020

Kentucky Faces Another Hurdle in Legalization of Sports Betting

For those hoping to see the legalization of sports betting in the state of Kentucky in the near future, it…

February 24, 2020

DraftKings Creates Unique Sports Betting App for Iowans

DraftKings is making a bold move in an attempt to get a leg up on the competition by offering a…

February 21, 2020

Maryland Finds Easier Way to Change State Gambling Laws

Maryland has opted to take what it's classifying as an easier approach to change gambling laws. Instead of doing it…

February 21, 2020

March Madness Will Have an Exciting Twist in Illinois in 2020

Illinois is about to slam dunk sports betting as state approved sportsbooks will be allowed to officially take wagers by…

February 20, 2020

Ohio Appears to Be Gearing up to Legalize Sports Betting

As more and more states look to legalize sports betting, Ohio seems to be the latest to enter into the…

February 19, 2020