Indiana could be the next major battle ground for fantasy sports
September 15, 2016 9:55 AM
by Robert Mann
Indiana could be the next major battle ground for fantasy sports – with at least two entities seeking a state license for so-called in-game bets, the Fort Wayne Journal Gazette reports.
So far, fourteen companies have filed non-binding letters of intent to operate under Indiana’s new paid fantasy law. The formal application deadline is Nov. 1 when an initial licensing fee of $50,000 must be paid.
The Indiana Gaming Commission has formalized the application process and set some preliminary guidelines to govern paid fantasy sports companies until more comprehensive regulations are completed next June.
Earlier this year Indiana lawmakers officially legalized paid fantasy sports – to be regulated by the gaming commission even though the bill specifically said the activity doesn’t constitute gambling.
The legislation included consumer protection provisions such as age verification, predetermined prizes, independent audits of the companies and a ban on company employees participating.
Additionally, Indiana law says players must be at least 18.
The Journal Gazette reports that approvals aren’t expected until March. Just what the final rules set by the commission will be for fantasy sports wagering in the Hoosier state may not be determined until next summer.