Nevada Mulling New Rules For Daily Fantasy Sports

Aug 23, 2016

Credit Ryan Glenn, Flickr, CC by 2.0

Daily fantasy sports sites that were ordered to stop Nevada operations last year because they didn't have a gambling license could be making a comeback.

Fan Duel and Draft Kings back a proposed bill that would give the sites a new pathway to operate legally in Nevada.

The state's Gaming Policy Committee, which makes recommendations for lawmakers, held a hearing on the matter on Tuesday. 

Chris Groves, a gambling industry analyst, listed benefits to regulating the growing industry. 

“Nevada can establish a regulatory leadership position on this new class of gaming, answering some of the core questions around these products, especially consumer protection questions,” he said. “Nevada can also drive economic development by creating a welcoming environment for operators and suppliers involved in this growing vertical.”

The proposal calls for a $10,000 annual licensing fee for larger operators and would require background checks only for major owners.

Daily fantasy sports companies scored a major victory Monday when they were cleared to resume operations in New York.

Only eight states have adopted legislation to regulate daily fantasy sports, though the practice is up and running in 41 states.