Gov. Asa Hutchinson legalizes paid-entry fantasy sports in Arkansas
April 12, 2017 9:27 AM
by Robert Mann
Arkansas Gov. Asa Hutchinson has signed bill H 2250, the law regulating and legalizing paid-entry fantasy sports in the state.
Arkansas becomes the first state to take that step in 2017, and the ninth since the start of 2016, reports the website legalsportsreport.com.
The Arkansas Senate had approved the bill by a vote of 25-5. The House approved the Senate version of the bill 85-0, after earlier passing the legislation 69-3.
The bill levies a revenue tax of eight percent on operators such as DraftKings and FanDuel.
The new law appears to legally recognize fantasy wagering as a game of skill, which paves the way for the tax operators would pay on the profit they make from Arkansans.
Critics maintain that fantasy sports are a game of chance, since it is impossible to predict how athletes will play, no matter how much sports knowledge a person may have. Critics believe, if entry fees and prizes are involved, it should be regulated like a casino game.