SBC News Voice of the Sports Betting Industry
A set of new proposals have been made concerning daily fantasy sports in the state of Maryland by State Comptroller Peter Franchot.
Franchot said: “Daily online fantasy sports games have established a significant presence in Maryland. It is entirely appropriate that we begin making sure the games are fair, anticompetitive abuses are declared out of bounds, and appropriate taxes are paid.”
The proposals were issued last Thursday and include the banning of participation in DFS by Marylanders under the age of 18, any pro athletes in their sport, and employees of any kind of fantasy sports operators including members of their immediate families.
Games based on both college and amateur sports would also be banned, and DFS operators would be required to clearly identify players that are highly experienced, commonly known as sharks, to any potential players that may join a game.
These measures were in addition to a longer list which can be seen in full here.
Back in 2012 the Maryland General Assembly passed legislation stating that fantasy sports were not subject to state prohibitions against betting and delegated authority to the Comptroller to adopt regulations to carry out the provisions of the law. Such DFS games have increased massively in popularity since then which has evidently played a part in this latest decision.
Franchot stated: “These games are being played by a huge number of people in Maryland, but with no regulatory framework to ensure fair games, and no notification of players that if they win, they are potentially subject to Maryland income taxes.
“Lawmakers and law enforcement officials can continue to discuss issues, but we need some rules in place for the benefit of Maryland consumers.”
An additional measure proposed last week is that participants should be limited to a maximum of $1000 (£755) in monthly deposits unless they proactively ask for this to be increased.
