Lawmakers weigh bill to regulate, tax fantasy sports - Western Mass News - WGGB/WSHM

Lawmakers weigh bill to regulate, tax fantasy sports

Posted: Updated:
Image courtesy: MGN Online Image courtesy: MGN Online

BOSTON (AP) - A public hearing is set for a proposal that would regulate and tax daily fantasy sports operators in Massachusetts.

The bill would impose a 15 percent tax on the gross revenue of companies, such as Boston-based DraftKings, that offer the online contests. Players compete for cash prizes by picking teams of real-life athletes.

Another provision that would charge fantasy sports operators registration fees of up to $100,000 to enter the Massachusetts market has raised concerns with an industry trade group.

A legislative committee will hear testimony on the bill Wednesday.

The measure gives the Massachusetts Gaming Commission, an agency that oversees casino gambling, regulatory oversight of fantasy sports.

The Legislature needs to act by July 31. That's when temporary authority allowing daily fantasy sports to operate in the state expires.

Copyright 2018 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Powered by Frankly
Powered by WorldNow CNN
All content © 2018, WGGB/WSHM; Springfield, MA. (A Meredith Corporation Station) . All Rights Reserved.
For more information on this site, please read our Privacy Policy, and Terms of Service, and Ad Choices.