Maryland comptroller proposes DFS regulations
July 18, 2016 10:42 AM
by Phil Hevener
Regulations for daily fantasy sports betting in Maryland have been proposed by Comptroller Peter Franchot.
“Daily online fantasy sports games have established a significant presence in Maryland,” Franchot said in a statement. “It is entirely appropriate that we begin making sure the games are fair, anti-competitive abuses are declared out of bounds, and appropriate taxes are paid.”
The regulations include:
-Banning play by residents under 18, as well as professional athletes in games of their sport and employees, officers, directors or contractors of fantasy sports operators.
-Banning games based on amateur or college sports.
-Barring game operators from extending any credit to a player and require operators to notify residents of their potential tax obligations.
-Banning the use of “scripts,” which are mini-programs used by experienced players to gain advantages that are unfair to more casual players.
-Limiting participants to a maximum of $1,000 in deposits each month, unless they ask for a raised limit.
The rules largely are based on regulatory frameworks in states that have taken action. They are subject to public comment and will need approval from a state legislative panel.
FanDuel said in a statement that the comptroller modeled the regulations after some of the best and strongest ones in states across the country.
“We are still reviewing the details and look forward to working with the Comptroller through the comment period. We have strongly supported regulations – and our call has been heard, with six states passing laws to regulate fantasy sports this year.”