DFS news roundup: Indiana passes DFS legislation

31 March 2016

Indiana became the second U.S. state to pass daily fantasy sports (DFS) legislation last week, after Gov. Mike Pence signed S 339 into law on March 24. The law officially takes effect on July 1.

Earlier this month, Virginia became the first state to enact DFS regulations when it passed the Fantasy Contests Act.

The Indiana law, like Virginia's, requires a $50,000 licensing fee from operators, a price that could prove to be a barrier to entry for smaller sites. The Indiana law also stipulates that DFS is considered a game of skill, and that operators cannot offer contests based on amateur sports, including college football and basketball.

Under the new regulations, players must be at least 18 years old to play, and employees of DFS operators and their "close relatives" are banned from playing in contests.

"Today's news out of Indiana marks another important step in the ongoing process of creating legal clarity for fantasy sports," the Fantasy Sports Trade Association said in an official release. "Momentum continues to build across the country — with more and more states enacting legislation that will allow millions of fans to continue to enjoy all the fantasy sports games they love. Throughout this process, the FSTA will continue to advocate for registration fees that neither inhibit new business nor hurt smaller fantasy sports operators. The FSTA will continue to work toward these goals when Indiana examines its regulatory rules in a legislative study this summer."

• Yahoo announced Wednesday that it will no longer accept credit cards for deposits made to its DFS site. The company says it encourages players to make deposits via PayPal, and that it will "continue to evaluate all payment methods and will look to implement other methods if they become available."

• Meanwhile, a small DFS operator called SideLeague announced via Twitter that it has been forced to pause deposits and withdrawals via PayPal due to "PayPal restrictions." SideLeague went on to say that it "hopes to have a resolution soon."

• In Massachusetts, Attorney General Maura Healey filed her final regulations for DFS last week. The proposed law creates a minimum age of 21 years old to play real-money contests and sets a $1,000 deposit limit for most players. The regulations would also ban DFS contests based on college sports.


Related Links
Fantasy Sports & Gaming Association (FSGA) Association Information
Indiana Gambling
Massachusetts Gambling
Ranked Online Fantasy Sports Sites

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