A Virginia House subcommittee advanced Delegate Paul Krizek’s HB 145 to the Appropriations Committee after voting unanimously to send it forward. The proposed bill would tax fantasy contest revenue at 10%, require state permits and introduce consumer safeguards; it has not yet become law.
The proposal could change Virginia operators’ tax costs, permit requirements and player-protection duties if enacted.
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The Seminole Tribe of Florida has sued DraftKings over its prediction market and fantasy sports products. The Tribe alleges that these offerings infringe its exclusive sports betting rights in Florida.
A lawsuit has been filed by the Seminole Tribe of Florida against DraftKings. The Tribe contends that DraftKings' prediction markets and fantasy sports products encroach on its exclusive rights to operate sports betting in the state. The complaint runs 72 pages and was filed on Thursday in Broward County Circuit Court, according to the filing. DraftKings chief executive Jason Robins and GUS III LLC, which operates as DraftKings Predictions, are also named as defendants.
Kentucky lawmakers passed House Bill 904, which would change rules for sports betting, fantasy sports and fixed-odds horse racing, according to the report. The bill raises the minimum sports-betting age from 18 to 21 and restricts certain proposition bets involving Kentucky college athletes. Governor Andy Beshear had not signed the measure at the time of publication.
Underdog is giving up daily fantasy sports licences across seven US states to preserve its prediction markets business. State regulators told the company that its federally regulated prediction platform could not coexist with its state-licensed fantasy sports operations.
West Virginia's combined sports and iGaming wagering rose 21% in September to $962.6 million, according to the report. The source does not identify the reporting authority or provide further market details.
Combined wagering in West Virginia grew by 21 per cent in September, reaching $962.6 million.
West Virginia recorded $922.1m in combined sports betting and iGaming wagers in August. The total increased by 16%, with each sector recording double-digit growth.