A number of bills became law this week after being approved in this year’s Arkansas General Assembly which included fantasy sports in the state along with laws concerning placements of juveniles in foster care and increased speed limits on controlled-access highways.
Under the bill 2250, paid fantasy sports games would be legalised in the state, and it would generate an 8% tax on the gross revenue generated from fantasy sports games by the game operators from the previous state fiscal year. The bill was sponsored by Rep. Jimmy Gazaway, R-Paragould.
Fantasy sports would not be categorised as gambling in the state with the coming of the new law, Act 1075 and the taxes collected on a quarterly basis like business taxes would be sent to the Arkansas Department of Finance and Administration.
The state can now have fantasy sports leagues for all the sports leagues like the NBA, NFL and Major Leagues Baseball excluding the college and high school sports leagues, as well as horse and greyhound racing.