Home » NEWS » Gaming » House approves tax, regulation of fantasy sports contests

House approves tax, regulation of fantasy sports contests

The Mississippi House has reversed itself and passed a bill to regulate and tax operators of daily fantasy sports contests.

House Bill 967 failed Wednesday, but it passed after a second vote Thursday.

The bill would set an 8 percent tax and authorize the Mississippi Gaming Commission to regulate fantasy sports contests online or in casinos.

Mississippi legalized fantasy sports contests last year and established a study group to recommend rules. Those recommendations are in the bill.

Operators would have to undergo a background check, get a state license and be audited annually. They also would have to verify that people placing bets are at least 21.

The bill moves to the Senate for more work.

It passed the House without a proposed state lottery amendment that was rejected.

BEFORE YOU GO…

… we’d like to ask for your support. More people are reading the Mississippi Business Journal than ever before, but advertising revenues for all conventional media are falling fast. Unlike many, we do not use a pay wall, because we want to continue providing Mississippi’s most comprehensive business news each and every day. But that takes time, money and hard work. We do it because it is important to us … and equally important to you, if you value the flow of trustworthy news and information which have always kept America strong and free for more than 200 years.

If those who read our content will help fund it, we can continue to bring you the very best in news and information. Please consider joining us as a valued member, or if you prefer, make a one-time contribution.

Click for more info

About Associated Press

Leave a Reply

Your email address will not be published. Required fields are marked *

*