Massachusetts refining fantasy sports rules
May 16, 2017 3:00 AM
by Robert Mann
A Massachusetts legislative panel is currently refining rules for fantasy sports. The rules impact companies such as Boston-based DraftKings and New York-based FanDuel and others. Local media report that fees to operate in the state could be as high as $85,000 a year with taxes up to 12 percent on the online games.
The state has been operating under interim rules since last year. Those rules stipulate a minimum age of 21 for those who participate in the contests.
The temporary requirements also prohibit games based on college or amateur sports. The rules additionally force daily fantasy sports operators to offer “beginner” contests in which highly experienced players are prevented from entering.
The panel is expected to release its recommendations by this summer with the interim regulations expiring next year.
The fantasy sports industry fears high fees and taxes will force operators out of the market.