You Can Help Legalize Daily Fantasy Sports in New York

You Can Help Legalize Daily Fantasy Sports in New York

You Can Help Legalize Daily Fantasy Sports in New York

Last week, New York State Legislature introduced legislation to regulate and legalize daily fantasy sports. Regardless of whether you live in New York or not, this bill has a massive impact on the industry and, ultimately, your ability to play daily fantasy sports.

The battle that FanDuel, DraftKings and the FSTA are fighting is an exhausting state-by-state one. A fight that is expensive, and is, at the core, based around legalizing DFS in the state of New York. A state that represents 10% of total entries and annual revenue. It won’t fix everything, but a win in New York will certainly go a long way towards ensuring we get to enjoy DFS for years to come.

I know I have received a ton of questions regarding how regulation would work, and there has been some terrible reporting done by the legal-focused daily sports blogs out there, so here is a breakdown of some key talking points from this bill.

  1. Tiered Licensure System – Fans of sites like FantasyDraft, FantasyAces, and other small operators were concerned that a ‘flat-rate’ licensure fee would limit New Yorkers to only being able to play on the larger websites that could afford to pay a six-figure price tag for a license. Under this bill, a three year license would come at a $100,000 fee if New York revenue exceeds $200,000. $25,000 fee for revenue between $100,000 and $200,000, and a $5,000 fee if revenue is under $100,000.
  2. Revenue is also taxed – There is more than just a six-figure licensing fee, of course… All New York daily fantasy revenue will be taxed at 15%, that’s gross revenue, a massively unfair number in our eyes, but beggars can’t be choosey.
  3. No College Sports – This one stings… Most of our readers know that we are passionate about daily fantasy college football, it looks like it will be wiped out industry-wide this season. Sad, but necessary given the current legal state of the industry.
  4. Complete oversight of the industry belongs to the New York State Gaming Commission. They will be responsible for ensuring operators are licensed and abiding by the state’s regulations.
  5. Operators may return to the state upon applying for a license. This will almost-certainly guarantee DFS is back in New York for the start of the NFL season.

How You Can Help

dfs petitionYou can help fight the good fight a few different ways… First, if you are in New York, click here to send an email to your legislator. Also for New Yorkers, sign this petition which will is delivered directly to your legislators.

If you are not in New York, you can still help raise awareness through social media… Encourage your friends and followers to do their part in ensuring this bill gets passed. This bill is far from perfect, but will get New Yorkers back in the game for the start of the NFL season. We will certainly miss college football, but live to fight another day.

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