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New DFS bill introduced in Iowa as Missouri bill heads for Senate approval

The chair of the Iowa Senate’s Ways and Means Committee has introduced a bill to legalise daily fantasy sports (DFS), while a similar bill in Missouri heads for a Senate vote.

Iowa Senator Joe Bolkcom has introduced Senate Study Bill 3181, which would give the state Racing and Gaming Commission full authority over internet fantasy sports contests.

DFS operators will be required to secure a licence to offer their services to Iowa residents, with licensees subject to a tax of 7.5 per cent of revenue from operations in the state. Half of one percent of this sum will be directed to the Department of Public Health for problem gambling treatment, with the remainder deposited in the Rebuild Iowa Infrastructure Fund.

Play is restricted to those over the age of 21, with DFS operator employees and their relatives banned from entering any contest offering a prize of more than $5. Contests on amateur and collegiate sports will be banned.

Meanwhile in Missouri, Senator Richard Stifton's Senate Bill 1131 passed the state Progress and Development Committee.

The bill makes DFS contests subject to state gambling rules, but clarifies that contests are not considered gambling unless operated by an unlicensed operator.

Contests would be taxed at 21 per cent, with operators required to pay an initial fee of up to $50,000 and an annual renewal fee of $25,000.

A bill before the Missouri House of Representatives, HB1941, has also been approved and passed to the Senate. It was introduced by Represntative Scott Fitzpatrick and passed following its third reading with 104 votes in favour, 38 against and 20 abstentions.

It classes fantasy sports as a game of skill, and sets a $5,000 initial licensing fee, with annual renewal feels of the same amount, and no tax on revenue.

 

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