Ohio Takes Step Towards Legalizing Fantasy Sports
The daily fantast sports market in the U.S. is slowly but surely going down the road of gradual legalization ad regulation. This is a welcome relief for major DFS operators like DraftKings and FanDuel who were facing a potential meltdown of their industry not too long ago.
The latest state to consider legalizing fantasy sports is that of Ohio which could join 16 other states already who have legalized DFS.
A bill sponsored by Rep. Jonathan Dever could be enacted by the first quarter of 2018. For DraftKings and FanDuel Ohio is an important state who according to the Fantasy Sports Trade Association has around 1.9 million fantast players. Of those around 400 000 belong to DraftKings and FanDuel.
The proposed bill was passed by Congress by a margin of 82-15 in May and now sits with the senate.
The proposed bill will grant the Ohio Casino Control Commission the authority to issue licenses and investigate oversees fantasy content. The proposed license fee would be $30k for three years which makes it attractive or operators who in states like Delaware and Virginia have to pay $50k.
Any operator wishing to get a license will have to have acquire external auditors for their annual compliance check as well as prohibit contests on college and youth sports.