New York lawmaker eyes expansion of fantasy sports games, leagues — with one catch

New York lawmaker eyes expansion of fantasy sports games, leagues — with one catch

Article brief provided by New York Post
  • Carl Campanile, New York Post
April 23, 2024 2:23 PM

A New York lawmaker wants to expand fantasy sports games and update rules to keep pace with fan preferences and changes in the market.

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“We can do so much better,” said state Sen. Joe Addabbo (D-Queens), chairman of the Racing, Gaming and Wagering Committee, who is pushing a new bill on the popular pastime.

Daily fantasy sports are competitions in which people battle each other online for prizes by building a team of professional athletes from a professional league.

The proposed law advanced by Addabbo would allow the state Gaming Commission to license a broader set up of operators to generate $150 million in new revenue over several years by charging a $5 million license fee to new operators and a renewal fee of 1% of gross revenues every five years.