Minnesota lawmaker aims to âprevent scamsâ with DFS bill
Rep. Joe Atkins tables legislation seeking to legalize and license daily fantasy sports in the stateÂ
Minnesota Representative Joe Atkins has announced he plans to table legislation seeking to âclear upâ the legality of daily fantasy sports in the state. [private]
Atkins said his bill would put into place âsignificant consumer protectionsâ to âprevent scams that would rip-off participantsâ following the recent DraftKings data leak scandal.
The legislation will have two components, recognizing daily fantasy sports as legal in Minnesota, and licensing, security and protection of participantsâ funds.
The bill will state that an entities engaged in DFS betting with more than $50,000 wagered per year by players will be required to obtain a license by the Minnesota Department of Public Safety.
To be licensed, operators will be subject to background checks, review of practices, and audits as established and carried out by the Department.
âThis legislation has become necessary due to the sketchy rules, uncertain legality, and alleged scandals surrounding fantasy betting sites like FanDuel and DraftKings,â Atkins said.
âMy goal is to make sure fantasy sports betting is conducted fairly and legally. Minnesotans should know theyâre not going to be ripped off when they engage in fantasy sports betting,â he added.
Minnesota becomes the latest state to investigate the legality of daily fantasy sports following the data leak scandal, with Massachusetts lawmakers holding a hearing later this week.