Arkansas Governor Signs Fantasy Sports Bill

Arkansas Gambling

H 2250 is a bill that was signed this week by Arkansas Governor Asa Hutchinson, allowing the legalization of paid-entry fantasy sports in the state. With the bill becoming law, Arkansas is the first state this year to pass such legislation. Now, 11 individual states have passed legislation legalizing paid-entry fantasy sports contests in the US.

After the Arkansas Senate approved the bill, it was expected that the measure would be signed into law. The Senate passed the measure with a vote of 25 to 5 with the House approving the Senate version unanimously. The bill will see a tax rate set at 8% on DFS revenues earned by gaming operators.

The main sponsor of the bill, Arkansas State Representative Jimmy Gazaway, commented that daily fantasy sports is an activity that is already taking place in the state and there is no clear guidance on whether or not the activity is legal. The goal of the bill was an attempt to make sure that DFS is legal in the state.

To those who doubted the bill, Gazaway stated that DFS is not like a casino as it will not attract other negative things that go along with the activity, it’s just something that people do on a Sunday afternoon, when they get home from church or are watching a game.

In other DFS news, Texas is currently considering a bill that would exempt daily fantasy sports sites from anti-gambling laws of the state. The full Texas House is set to consider the legislation after it was approved 6 to 1 in House committee.

Back in January of last year, the Texas Attorney General Ken Paxton decided that daily fantasy contests are illegal games of chance based on state law. Now, a bill submitted by Representative Richard Raymond hopes to challenge the AG’s opinion and create a regulatory framework that would see DFS licensed and taxed in the state.

 

 

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