State of Maine Considering Regulating DFS
With momentum switching again towards DFS operators, the State of Maine is set to become the ninth state to formally consider regulating DFS. According to local reports in Maine several representatives from the leading DFS operator had meetings with lawmakers at a recent conference in Chicago to discuss the possible future of DFS in the state.
Maine like other states is looking to offer DFS but at the same time ensure that players are protected from scandals like those involving insider trading where employees of DFS companies used confidential information to bet on their competitor’s contests and gain an unfair advantage. At the same tie DFS generated over $2.6 billion in entry fees in 2015 and this is expected to rise to over $14 billion by 2020.
Sen. Roger Katz is set to present a bill for revue in the next legislative session which will discuss all the aspects of the possibility of a regulated DFS industry in the state. These include player protections and possible revenues for the state coffers.
Maine Attorney General Janet Mills is adopting a cautious approach and stated that it is still to be decided if DFS games are to be considered games of skill or chance. Mills also voiced concerns of families risking their life savings to fund DFS. Mills believes there must be restriction put in place that would limit the wager amounts permitted as well ensure that DFS operators clearly reveal the odds of winning.