Thursday, February 25, 2016 :  VIRGINIA D.F.S. BILL SPEEDS THROUGH ASSEMBLY (Update)
 
It's up to the state governor now.
 
Sen. Ryan McDougle's daily fantasy sports regulatory proposal SB646, which cruised through the Virginia Senate earlier this week on a 28 vs. 10 vote, has received a rapid vote of approval in the state Assembly and is now on its way to Governor Terry McAuliffe's desk for signature.
 
Virginia’s bill specifically exempts cash-prize fantasy sports contests from the state’s definition of illegal gambling. It also assesses a $50,000 registration fee, requires verification that players are over 18, and bars company employees from competing with the general public in games with cash prizes.
 
The bill also requires the segregation of player deposits from operational funds, and compels operators to submit annual reports to the state Department of Agriculture and Consumer Services.