Colorado lawmakers are examining the idea of opening up an, “Office of Daily Fantasy Sports,” to regulate and license daily fantasy sports (DFS) sites. It’s an idea that’s supported by the the fantasy sports industry and, if successful, could catch on nationwide.
The bill was introduced last week and has received bipartisan support at the state capitol. Supporters of the bill say that the office will help bring the fantasy sports industry into the regulatory fold, while still respecting the limitations established by the Unlawful Internet Gambling Enforcement Act of 2006.
In its current form, the bill would establish a regulatory framework for fantasy sports that exists outside the regulatory framework that currently governs the state’s land-based casinos. That framework would require fantasy sports operators to undergo background checks and hold licenses. It also limits real money fantasy sports adults over the age of 18.
In an interview with the Denver Post, Christina Duran, the bill’s sponsor said:
My bill is an effort to codify important industrywide standards to protect consumers and ensure the integrity of all fantasy sports Enacting this important legislation will ensure that all providers are taking the necessary steps to protect fantasy sports fans, and will give consumers peace of mind about the integrity of the games they love.
One important aspect of the Colorado bill is that it makes a clear distinction between real money fantasy sports and the traditional, land-based, casino industry. That represents a big win for the fantasy sports and its a model the Draftkings of the world would love to see implemented on a national scale.