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Regulate Fantasy Sports Legalised in Illinois

Regulate Fantasy Sports Legalised in Illinois

Legislation on Tuesday was passed allowing people to participate in regulated fantasy sports betting by the Illinois Senate gaming committee.

This would replace the previous advisory that daily fantasy sports betting as illegal under state gambling law. The main objective of this legislation is to generate additional tax revenue for Illinois.

Though, Senate Bill 208 offering protection would regulate by annual audits to ensure the requirements are complied to by the providers such as age restriction of 21 and prohibition of employees of the fantasy contest providers from playing.

Richard Schwartz, president of Rush Street Interactive, a Chicago-based online gaming business, said protections and regulations can be enacted in order to protect players who participate in fantasy sports.

Illinois the third-largest players, with more than 2 million Illinoisans of a total 50 million Americans who participate in fantasy sports contests