New daily fantasy sports bill for New York
News on 27 May 2016
News on 27 May 2016
The New York state Attorney General’s negative view that daily fantasy sports are illegal in terms of New York state law (see previous reports) has done nothing to dampen the enthusiasm of state politicians Sen. John Bonacic and Rep. Gary Pretlow, who have introduced similar legalisation bills in the Assembly and Senate.
The two men are respectively chairmen of the Senate Racing, Gaming and Wagering Committee, and its equivalent in the House.
Reporting on the bills, the New York Daily News said their passage will allow DFS market leaders FanDuel and DraftKings, along with other daily fantasy sports sites, to return to New York after they exited following “cease and desist” letters from the AG earlier this year.
Although not identical, the two bills have similar provisions, calling for oversight by the New York State Gaming Commission, licensing fees and a tax rate on GGR from transactions with New York players of 15 percent. There are also similar provisions regarding excluding college and high school sports from DFS competitions.
New York Governor Andrew Cuomo has an open mind on the issue, according to a spokesman, who told the New York Daily News that if the legislature has a proposal the governor is prepared to review it.
“We are seeing major progress and hope the Legislature acts soon to make New York the seventh state this year to pass positive fantasy sports legislation that will clarify the legality of these games and install necessary consumer protection regulations,” Cory Fox, director of policy and government affairs for FanDuel, said in a statement.
“There are more than one million players and nearly 30 fantasy businesses in the state watching and waiting for the legislature to safeguard this growing industry,” he added.
Carlo Scissura, president of the Brooklyn Chamber of Commerce, was also supportive, saying: “It can help accelerate the increase of technology jobs within the city, within Brooklyn. Why shouldn’t this industry be a part of this renaissance in technology?”
