NEW JERSEY ASSEMBLY COMMITTEE TO CONSIDER DAILY FANTASY SPORT BILL
Caputo bill to be discussed in committee next week.
New Jersey is moving forward on the legalization of daily fantasy sports, according to New Jersey.com, which reports that a bill sponsored by Democratic Party Assemblyman Ralph Caputo is to be discussed in committee early next week.
The bill proposes that operators be required to pay quarterly fees, and that the Assembly clarifies that DFS contests within the state are legal.
Talking about the bill to reporters this week, Caputo observed: “It’s legal in 10 states now, so there’s no sense fighting against it,” pointing out that his bill is similar to one approved last year by two state Senate committees.
Differences include an upfront fee still to be determined but based on how much revenue operators generate from New Jersey players, and a levy of 10.5 percent of GGR – 1.25 percent more than that paid by NJ land casino operators, but considerably lower than the quarterly 15 percent paid by online gambling operators in the state.
The proposal is also understood to contain consumer protection, integrity, fair competition and anti-crime and collusion provisions.