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Colorado and Missouri To legalise DFS

TWO MORE U.S. STATES LEGALISE DAILY FANTASY SPORTS
 
Governors of Colorado and Missouri sign bills into state law.
 
Two more US states now have laws governing daily fantasy sports after the governors of Missouri and Colorado signed bills into law this week.
 
In Missouri Gov. Jay Nixon signed House Bill 1941, the Missouri Fantasy Sports Consumer Protection Act, into law on Friday, making his state the sixth to do so saying:
 
“When a new frontier of online betting is available at the touch of a screen, we have a responsibility to protect consumers and young people. I appreciate the General Assembly for answering my call to bring forward common-sense consumer protection to make sure fantasy sports gaming in Missouri is operated responsibly and with accountability.”
 
The measure received bipartisan support in the state Legislature, passing 131-13 in the House and 20-10 in the Senate.
 
Under the provisions of the bill the Missouri Gaming Commission will regulate the DFS, with authority to licence and if necessary investigate and prosecute issues and operators.
 
Operators will have to pay  an application fee of $10,000 or 10 percent of net revenue from Missouri participants for the previous year, whichever is less, and an annual operation fee of 11.5 percent of net revenue for the previous year. The revenue generated by the sector will be dedicated to the state Education Fund.
 
The Act makes provision for the usual range of consumer protections associated with DFS, including an age limit of 18, keeping operating funds and player deposits separate, a ban on college sports events, fast pay-out deadlines, responsible gaming measures, marketing restrictions, bans on third party software, no credit betting allowed, strict operator audit requirements, and a dispute channel for players.
 
Just prior to Missouris signing, Gov. John Hickenlooper of Colorado made sure his state was the fifth in the US to legalise DFS when he signed HB1404 into law a month and a day after it was approved by the state Legislature and sent to his desk.
 
Regulation and licensing will be the mandate of the Division of Professions and Occupations in the Department of Regulatory Agencies, which will also be responsible for drafting appropriate licensing and renewal fees.
 
The bill exempts from registration operators who have less than 7,500 players, but larger operators with more players than this must register and licence, and subject their entyerprises to annual audits. Again there is a range of consumer protection measures enshrined in the legislation, which includes a prohibition on DFS employees taking part in contests, segregation of player funds, responsible gaming measures, bans on college sports contests, and a minimum player age of 18 years.
 
Other US states that have specifically legalised DFS include Indiana, Virginia, Tennessee and Mississippi.

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Gambling News :

South Africa Going After Illegal Gambling - In South Africa a combined national police and federal enforcement initiative has shuttered 19 illegal gambling venues across the provinces of Northern Cape and North West.

The Winning Express arbitrage sports betting scheme - A UK-based GBP 27 million arbitrage sports betting scheme, The Winning Express, has collapsed, leaving a thousand investors with concerns that their money is lost, according to a BBC report over the weekend.

Global Poker League Championship Results - #gpl The inaugural season of the Global Poker League Championship played out this week with the Montreal Nationals besting the Berlin Bears across 11 games to claim the $100,000 main prize.

Yahoo DFS Gets Uk License - #yahoo Industry observers point out that Yahoo has thus far carried out little in the way of major marketing on DFS in its US endeavors, unlike rivals DraftKings and FanDuel, and they expect it to follow a similar path in the Britain.

SPANISH GAMBLING MARKET CONTINUES TO GROW - Spain's gambling industry continued to advance in 2015 with growth in most sectors, according to the latest research report from the Codere - University of Madrid Institute for Policy and Governance collaboration released this week.

Novomatic Acquires Albanian National Lottery - #Novomatic The Austrian gaming technology group Novomatic has issued a statement confirming that it has completed the final required steps for the successful acquisition of the Albanian National Lottery.

2016 Massachusetts Gaming Commission Report - Industry journalist Steve Ruddock picked up on some interesting statistics from the latest annual report of the Massachusetts Gaming Commission released this week, flagging the current results from its on-going monitoring research of the state gambling market.

Jack Lam denies bribe allegations - Allegations by Philippines Justice Secretary Vitaliano Aguirre that casino tycoon Jack Lam used 'facilitator' Wally Sombero in an attempt to bribe him into protecting Lam interests have been hotly denied by Lam.

Fonbet Gets Russian Betting License - #Fonbet Russian-licensed operators are required to use officially sanctioned payment hubs called TSUPIS to facilitate government oversight, and this may be a concern for Fonbet at present.

New Attempts to Restore the Wire act - In the first of these initiatives, which Online Poker Report notes is supported by only eight state AGs (half those who signed a similar letter last year), the signatories seek support for RAWA at a Congressional hearing scheduled for December 9.

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