Pennsylvania To Grant Further DFS Applications

The Pennsylvania Gaming Control Board has recently launched an entirely regulated Daily Fantasy Sports market, inflicting a 15% tax on additional income. Operators and companies that have been authorized to offer sports wagering services will be required to pay levies to the state’s Department of Revenue, which is part of the General Fund. Executive director of the board, Kevin O’Toole, confirmed that the regulatory body has received a large number of applications from DFS platforms, including DraftKings and FanDuel.

After revealing identities of the latest sports operators, such as Fastpick, StarStreet, JDAD and Boom Shakalaka, the state’s regulator marked the beginning of generating new revenues through taxation of entry fees from players who are registered in Pennsylvania. O’Toole added that residents can expect safe betting while entering a fantasy sport contest, as it represents a fair playing environment that meets high standards which is in accordance with the laws by the Gaming Control Board.

Likewise, an entirely new batch of operators has applied for interactive gaming licenses, and the board is currently working on applications from Yahoo Fantasy Sports, Fantasy Draft, Sportshub Technologies and Full Time Fantasy Sports. However, in order to legally participate in sports contests, players are obliged to submit an entry fee and initiate play from within Pennsylvania. Re-registration is not required for those who already participate in sports wagering with any of the previously mentioned companies.

The state east-coast state is also getting ready to introduce regulations regarding online gaming, as soon as Governor Tom Wolf signs an extended gambling act in October later this year. Players are under obligation to review eligibility and detailed guidelines before attempting to play, although no obvious difference in gameplay will be inflicted, should any new changes immerge.

Source:

“Pennsylvania considers latest fantasy sport applications”, igamingbusiness.com, May 18, 2018.