DAILY FANTASY SPORTS BILL MAKES PROGRESS IN NEW JERSEY
Assemblyman Mazzeo's bill A3532 makes it through the Assembly Tourism, Gaming and the Arts Committee.
Positive daily fantasy sports developments have been reported from New Jersey, where the Assembly Tourism, Gaming and the Arts Committee progressed Assemblyman Vincent Mazzeo's A3532, a bill proposing the legalization of DFS as a game predominantly of skill.
The committee voted unanimously to advance the bill after hearing from a number of experts on the subject and considering estimates that legalization could realize $5.8 million annually for state coffers from fees and taxes.
The latest version of the bill proposes a GGR tax rate of 10.5 percent, with the state Department of Law and Public Safety given the responsibility for oversight on the sector, rather than the New Jersey Division of Gaming Enforcement, the traditional state regulator of gambling.
If the bill continues on its current positive trajectory, New Jersey could become the eleventh US state to declare DFS a game of skill exempt from conventional gambling regulations.
The committee also endorsed earlier legislative calls urging the Trump administration to respect states' rights when it comes to the introduction and enforcement of intrastate gambling regulations as pressure builds for the federal government to stay out of issues such as intrastate online gambling and sports betting.
New Jersey is one of the three US states that have so far legalized online gambling.