Virginia's gambling law subcommittee plans to introduce tighter regulations for daily fantasy sports amid ongoing ambiguity between legal sports betting and pick 'em-style DFS.
Virginia's gambling law subcommittee plans to introduce tighter regulations for daily fantasy sports amid ongoing ambiguity between legal sports betting and pick 'em-style DFS.this week that fantasy sports is “a compliance nightmare” and something that “needs to be reined in.”
Sports betting is handled by the Virginia Lottery, which requires an initial $250,000 fee to receive an operating license and a $200,000 annual renewal. DFS is overseen by the Virginia Department of Agriculture and Consumer Services, which charges fantasy operators $8,300 to obtain and renew licenses.
Attorney General Jason Miyares wrote in a letter last year that DFS sites offering over/under props must comply with the same requirements as sports betting operators, but no enforcement has occurred. New York, Florida, and Michigan are markets that have outlawed the pick ’em-style games completely. PrizePicks has found a way around this byVirginia could adopt a similar system that isn’t advantageous to DFS operators but differentiates DFS and sports betting enough to suit some regulators.
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