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Virginia Governor signs fantasy sports bill into law

Tuesday, March 8, 2016 : FANTASY SPORTS FIRST FOR STATE OF VIRGINIA (Update)
 
Governor signs fantasy sports bill into law.
 
The Virginia legislative system has wasted no time in legalising fantasy sports in the state, quickly following last week's legislative approval  with Governor Terry McAuliffe's imprimatur making Virginia the first US state to regulate the genre, which includes daily fantasy sports as well as season-long competitions.
 
A last-ditch attempt by season-long fantasy sports operators to exclude daily fantasy sports from the bill's provisions failed.
 
SB646, the “Fantasy Contests Act,” stipulates that all players be 18 years or older and bans employees and immediate relatives from participating in contests. Operators must also keep player funds separate from the company's operational funds, pay a $50,000 fee to operate in the state and submit to an annual audit of their operations by the state Department of Agriculture and Consumer Services.
 
The Governor's office said in a statement: “This bill, which was passed by super majorities of both chambers, will empower Virginia to regulate this emerging industry and keep consumers safe from abuses.”
 
The House of Delegates passed its version of the bill 80-20, followed by the Senate, which passed it 31-9.
 
Major daily fantasy sports operator DraftKings, which lobbied vigorously for the bill, commented:
 
"Today, Virginia became the first state in the nation this year to put in place a thoughtful and appropriate regulatory framework to protect the rights of fantasy players. We thank Governor McAuliffe for his leadership and advocacy and are hopeful that other states across the country will follow Virginia's lead. We will continue to work actively to replicate this success with dozens of legislatures and are excited to continue these efforts."
 
However, not everyone is happy with the new law, and some of the smaller season-long operators say the fees it imposes will put them out of business in Virginia, and that the daily fantasy sports genre constitutes gambling.
 
Rather belatedly, the industry's trade body, the Fantasy Sports Trade Association, expressed reservations about the high fees in the bill and their potential impact on smaller operators.
 
Other opponents claim that the broad language of SB646 could open the intrastate door to alternative forms of online gambling and the rising eSports industry

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Winamax Poker Launches Dealers Choice Games - The Dealer's Choice in poker format is not a new concept, but Winamax enlivened the French online poker scene by introducing it last week, taking advantage of looser game restrictions by the French regulator ARJEL.

2016 Unibet Poker Open Bucharest main event Results - Romanian poker ace Traian Bostan banked Euro 100,000 this weekend after winning the Euro 1,100 buy-in Unibet Poker Open Bucharest main event hosted by the JW Marriott Bucharest Grand Hotel.

Limited Gambling To Be Allowed in Bermuda - After two years of discussion senators in the self-governing British overseas territory of Bermuda finally approved the Casino Gaming Amendment Act 2016 last week, ushering in a potentially more liberal and practical approach to gambling in the Caribbean island nation.

Crown Resorts Employees Should Confess - Youxi suggested that Crown should hire good lawyers to defend its employees, something Crown's existing Chinese legal representatives may regard as offensive.

Jack Lam on the Run - "Our records also showed Lam arrived in Manila last Nov. 25 aboard a China Airlines flight from Taipei,” she said, observing that there was no record of any return to the Philippines since his departure.

Golden Jungle Slot - IGT is about to launch online its popular land casino slot Golden Jungle, adding yet another jungle-and-temple themed game to the dozens already available to internet and mobile punters.

Philippines president Orders Arrest of Jack Lam casino magnate - Rodrigo Duterte, the shoot-from-the-hip Philippines president, has intervened in the fast-moving bribery scandal involving his Justice Secretary Vitaliano Aguirre, Pagcor chief Andrea Domingo and Macau-based casino magnate Jack Lam

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.

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