Indiana Governor signs DFS bill into law
State becomes the second to legalize and regulate daily fantasy sports
Indiana has become the second US state to legalize and regulate daily fantasy sports (DFS) after Governor Mike Pence signed legislation into law. [private]
The bill, SB 339, which landed on the Governorâs desk on March 17 and became law last week, and sees Indiana join Virginia as the only US states where DFS is legal and regulated.
The law takes effect from July 1, and DFS operators currently live in the state are permitted to continue offering contests to players until they receive their license.Â
Operators wishing to offer real-money daily fantasy sports contests in the state will have to pay a $50,000 license fee plus a $5,000 annual renewal.
The license fee may increase to as much as $75,000 to cover any additional costs associated with the licensing process.Â
Licenses will be issued by the Indiana Gaming Commission, with fantasy sports classed as a game of skill under state gambling law.
Operators are not permitted to offer contests on amateur sports such as college football, and players must be at least 18 years old and age verified.
The law also creates additional consumer protections, such as preventing employees or their close relatively playing in real-money contests.
Sites are also required to give players the option to self-exclude, and operators must segregate player funds from business funds.
Sites must also undergo an annual third party audit.