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Governor Nixon approves bill to regulate daily fantasy sports sites

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Governor Nixon approves bill to regulate daily fantasy sports sites

JEFFERSON CITY, Mo. (AP) – Missouri is one of the latest states to enact legislation to legalize and regulate daily fantasy sports games. Gov. Jay Nixon signed into law Friday a measure to give the state Gaming Commission oversight of the practice and require licensing fees. It takes effect in August. Websites such as DraftKings […]

Governor Nixon approves bill to regulate daily fantasy sports sites

JEFFERSON CITY, Mo. (AP) – Missouri is one of the latest states to enact legislation to legalize and regulate daily fantasy sports games.

Gov. Jay Nixon signed into law Friday a measure to give the state Gaming Commission oversight of the practice and require licensing fees. It takes effect in August.

Websites such as DraftKings and FanDuel will need to pay an annual operation fee of 11.5 percent of net revenues to operate in Missouri. Businesses also must pay an annual licensing fee of $10,000 or 10 percent of net revenue, whichever is lower.

The games will be limited to those at least 18 years old.

According to the National Conference of State Legislatures, Missouri joins six other states in passing legislation to allow the games.

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