Florida fantasy sports bill passes first committee stage

Florida has taken a step closer to regulating daily fantasy sports (DFS) after the US state’s Business & Professional Subcommittee passed a bill that would confirm that companies can offer such services in the state.

Introduced by Republicans Matt Gaetz and Ritch Workman, HB 707 sets out a number of rules that could be used to help administrate the sector.

Regulations include websites verifying that players are at least 18 years of age, DFS employees and relatives being blocked from playing games with real-money prizes, player funds being segregated from operational funds and a requirement for sites to contract a third-party for an annual audit.

Operators that do not comply with the proposed law could face a civil penalty.

Although the bill did not originally feature any taxes or bills, it was amended to include a $500,000 (€459,300) licensing fee and a $100,000 annual renewal fee for operators.

Confirmation of the bill’s first passing comes after a state Assembly committee in California last week also approved a bill that could lead to the legalisation of DFS in the US state.

California’s AB 1437 would require operators to acquire the relevant licence in order to offer such games in the state, while such companies would also need to pay an annual regulatory fee.

Related article: California closes in on fantasy sports as committee approves bill