HB707 Florida daily fantasy sports Approved

Wednesday January 13,2016 :  FLORIDA DAILY FANTASY SPORTS BILL MAKES PROGRESS
 
Some reservations, but HB707 approved by House Business and Professions Subcommittee.
 
Florida state Representative Matt Gaetz's daily fantasy sports regulation bill, HB707, made it through the state House Business and Professions Subcommittee Tuesday on a 10 vs. 3 vote and has been forwarded for further discussion to the House Regulatory Affairs Committee.
 
Whilst not unanimous – there remain some areas where amendments will be inserted – the bill appeared to find general favour and has been augmented with the addition of financial details, such as a one-off $500,000 licence fee and an annual renewal fee of $100,000, bringing it in line with an equivalent Senate proposal.
 
“My belief is that if we pass this bill in this format, that we will become a model for the country,” Gaetz said. “And we will show the country how to appropriately deal with fantasy contests.”
 
The anticipated strong tribal opposition did not materialise, but the bill has a way to travel yet.