New Jersey inches closer to daily fantasy sports regulation
In a significant new development in the world of gaming, US state of New Jersey has moved a step close to regulating its daily fantasy sports (DFS) business after state Assembly committee cleared a bill to this effect.
The new piece of legislation aims to charge DFS companies a fee of 10.5% on gross revenue in order for them to operate in the US.
At this moment, though, it is unclear as to how much the state would collect from operators under this structure. However, Chris Grimm, a consultant for DFS firms DraftKings and FanDuel, stated that the figure could be in the range of $1 million (€933,532) each year.
New Jersey Assemblyman Ralph Caputo, a co-sponsor of the bill, felt that the potential revenue would be much higher and in the range of $5.8 million a year.
Caputo believes the bill will help increase consumer protection, as regulators in the state will ensure that all DFS contests are run properly and in a free and fair manner.
Kai started working in the Gaming Industry in 2001 when he managed a Horse Betting Shop in Germany. With the more and more upcoming needs for Sportbetting Solutions for the German speaking market he moved in 2003 in Malta where he built up TopSportWetten, one of the first Sportbetting operators working from Malta with a Remote Gaming License.
In 2005 he moved to a new venture and joined the newly formed Team of BetUnited, a Company that had the goal to target the German speaking online market with a full portfolio of Betting, Poker, Casino and Games of Skill.
In 2007 he left BetUnited and concentrated on helping new Companies coming to Malta to obtain a remote gaming license and establish operators on the island.
In 2011 he founded Simka Consulting to combine his knowledge in the operational part of the IGaming Business with the Marketing expertise of Simona.
- TopSportWetten - Managing Director and Key Official
- Bet United - Managing Director and Key Official
- MMBet - Managing Director and Key Official
- Olympia Bet - Managing Director and Key Offical
- Production Planning and Project Manager - Infratec Pro Ltd.
Latest from Simona
- Betfair joins William Hill, others out of Poland market
- DraftKings expands further after going live in Germany
- GVC cites bwin.party acquisition as main reason for boost in finances in 2016
- International Federation of Poker flops in SportAccord bid
- Playtech games live in regulated Czech Republic online market