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Daily Fantasy Sports laws remain hit or miss

07.19.2016     08:12 AM     Printer Friendly blog entry.
Daily Fantasy Sports is gaining some traction but problems remain like the different regulations state-by-state. For example, Indiana has enacted legislation, Illinois' is pending, and Wisconsin (and others) has chosen to do nothing.

“Fifty states with 50 different sets of regulations will likely give rise to compliance costs that the fantasy industry — particularly smaller players — will struggle to absorb,” he says. “We can easily imagine a future, cost-prohibitive market controlled by a small number of large players.”

“The impact has been devastating. We simply can’t afford the fees,” says Rishi Nangia, who’s considering relocating Syde, the daily fantasy sports company he co-founded, after its home state of Virginia imposed a $50,000 registration fee. “So even in states where we technically won a right to exist, we are unable to offer our games.”

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