New Jersey the sixteenth U.S. state to legalise daily fantasy sports
News on 24 Aug 2017
News on 24 Aug 2017
New Jersey became the sixteenth US state to legalise daily fantasy sports this week when Gov. Chris Christie signed bill A3532 – a measure approved by the state legislature last month – into state law
In fact, state regulators have already opined that DFS is legal under state law, with the FastPick product rolled out by Atlantic City’s Resorts land casino earlier this year (see previous report).
One of the drivers of the bill was Sen. Jim Whelan, who sadly passed on this week.
DFS market leaders DraftKings and FanDuel said that the bill signed by Christie establishes multiple layers of oversight, placing New Jersey at the forefront of consumer protection nationally, and creating a new source of tax revenue with major potential for growth in the state.
“On behalf of nearly 1.5 million fantasy sports fans in New Jersey, we want to thank Governor Christie and the legislature – especially Senators Sarlo, Stack and Sweeney and Assemblymen Caputo, Mazzeo, Burzichelli and Brown – for coming together on this bipartisan legislation,” the two companies said, concluding with a special note of appreciation for Sen. Whelan, who was characterised as “a true and tireless champion for the communities he served faithfully for decades.”
New Jersey’s bill is largely similar to those passed in other states, and makes provision for DFS as a game of skill to be supervised by the state’s Division of Consumer Affairs in the Department of Law and Public Safety.
Operators are required to obtain a state permit and pay tax on GGR generated from New Jersey players at 10.5 percent. Operators must have at least one server located in Atlantic City, and the minimum age for players is set at 18 years.
The usual raft of consumer protection, responsible gaming, fairness and anti-crime precautionary requirements are also the responsibility of the operators, who must segregate player deposits from operational funds.
Where New Jersey differs is in bans on fantasy sports on college games which have become the norm in other states; this is not required of New Jersey operators.
