Mississippi becomes newest state to legalize daily fantasy sports

Mississippi becomes newest state to legalize daily fantasy sports

March 17, 2017 9:26 AM
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Mississippi this week became the newest state to legalize daily fantasy sports after Republican governor Phil Bryant signed legislation into law on Monday authorizing the online games.

The legislation allows the Mississippi Gaming Commission to issue three-year daily fantasy sports licenses to operators that have paid over a fee of $5,000. In return, these firms will be required to pay an 8 percent tax on net revenues, which have been defined as “the total of all fantasy contest entry fees that an operator collects from all players less the total of all sums paid out as cash prizes”.

Additionally, the legislation gives the Mississippi Gaming Commission the authority to conduct background checks on potential daily fantasy sports firms along with annual financial audits while prohibiting operator employees and anyone under the age of 18 from taking part in games.