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Delaware $3 Billion Daily Fantasy Sports Industry Returns After A Year

Delaware 3 Billion Daily Fantasy Sports Industry Returns After A Year

The $3 billion daily fantasy sports industry is set to return after a year of exiting quietly, following the orders of Delaware Attorney General Matt Denn, as the daily fantasy sports violated the Delaware law that required the state to monitor all kinds of gambling. Despite the retaliations, the operators had to exit their services from the states.

The largest three operators FanDuel, DraftKings and Yahoo, will see their operations returning the state this month, following the legislation signed into law by Gov. John Carney.

The legalisation will not only allow the daily online fantasy but also brings with it one of the toughest taxes in fees in the country. The site operators would be required to pay an annual fee of $50,000 along with the 15.5% taxes, the highest current fantasy sports tax rate in the country, on their gross revenue in the state.

The legislation also adds many laws to protect the consumers, including banning of betting on college or amateur sports, truth in advertising language and operators making sure of the player's age of 18 years or older.