Tennessee Set To Become Next State to Regulate Daily Fantasy Sports Sites

football4flushAt the beginning of April, the Tennessee Attorney General decided to join the ruling by other AGs that daily fantasy sports sites are an illegal gambling activity. Herbert Slatery acknowledged that there was skill involved with DFS contests but the element of chance involves makes the activity illegal. Just weeks after the opinion was announced, legislation was created that would regulate the daily fantasy sports industry within the state. The legislation is now on its way to the governor.

The State Senate passed the DFS bill last week after the House had previously given approval for the measure. The legislation will now move forward to the governor who will have the option to sign the bill into law.

The bill has seen a great deal of support with the House voting in favor of the measure 67 to 17 while the Senate passed the bill with a vote of 27 to 2. If the legislation is signed into law, Tennessee will become only the third state to enact a new law in regards to the daily fantasy sports industry. Virginia and Indiana are the other states who have legislation in place.

Within the bill, it states that oversight will be created on the DFS games and a 6% tax will be imposed. The governor has just a few days to sign the measure into law. One such site affected by the law includes FanDuel, who released a statement on the movement of the legislation.

In the statement, FanDuel said that the legislature of Tennessee has passed strong and smart regulations that will ensure the over one million fantasy players of the state will benefit from consumer protections and will be able to continue to enjoy fantasy sports. FanDuel thanked Representative Pat Marsh and Senator Jack Johnson as well as members of legislature for taking the careful approach to the issue, and delivering a reasonable solution for Tennessee.

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