The multi-billion dollar daily fantasy sports industry has been under scrutiny in several states across the US for many months now. Several states are currently considering legislation that would legalize the option while others are shutting out operators altogether. The most recent state to see legislation proposed involving daily fantasy sports is Ohio. Senator Bill Coley proposed a measure that highlights the existing law in the state, trying to make clear that certain contests are considered illegal based on current state laws.
The bill was introduced this past week and states that if a contest is able to profit from a certain percentage of entry fees and does not have 100% of those fees going to the winner, the contest is deemed illegal. Coley stated that there are some contests offered by DFS sites that are legal. However, if you touch any of the contest money then the business model needs to be changed.
According to Coley, specific contests on sites like DraftKings and FanDuel earn a profit based on entry fees and this makes the activity illegal. However, Coley was unable to point out any specific contest offered by the DFS sites. Coley’s bill would create a Casino Control Commission that would be used to regulate websites that offer DFS gaming.
DraftKings and FanDuel spokesman Marc La Vorgna, stated that the senator is completely on an island and is isolated from residents of Ohio who love fantasy sports. He is also isolated from his caucus where he has no support as he attempts to ban the fantasy sports industry.
On Monday, the office of the attorney general of Ohio presented a memo that detailed sites that offer DFS and that they are not currently being prosecuted. The AG does not expect the DFS operators to be prosecuted in the future.
Already, 15 states in the US have restricted the DFS industry in some way or another while 10 states have put a ban in place on the activity.
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