Missouri Lawmakers Pass Regulations for Daily Fantasy Sports
Missouri lawmakers have passed a measure allowing the state to regulate daily fantasy sports games.
Legislators sent the bill Thursday to Gov. Jay Nixon, who had called upon them to regulate and tax the games in his State of the State address.
The measure would limit daily fantasy sports to those at least 18 years old. The state Gaming Commission would oversee the practice.
Websites such as DraftKings and FanDuel would need to pay an annual operation fee of 11.5 percent of net revenues. Businesses would pay an annual licensing fee of $10,000 or 10 percent of net revenue, whichever is lower.
Critics argued the regulations are too onerous and the fees are too high.
Nixon appears likely to sign the bill.