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So if your virtual DraftKings or FanDuel team hoists the Vince Lombardi Trophy, you would be required to remit part of your winnings as income to the state tax
department under a bill moving through the Legislature.
The House Gaming Oversight Committee on Wednesday unanimously passed a bill that would give the state Gaming Board oversight of fantasy sports games offered
by multi-state companies such as DraftKings and FanDuel. The bill also would allow in-state casinos to run their own virtual leagues.
The bill would not affect small office pools among co-workers who use statistics compiled and published online by ESPN or another outlet.
The bill still needs full House and Senate adoption.
If the Legislature approves the bill and Gov. Tom Wolf signs it, the Gaming Control Board would have up to 180 days to set regulations.
The law would not be in place for the start of the National Football League's 2016-17 season, but it would be in time for the Feb. 5 Super Bowl.
The bill is part of a package of legislation to expand the state's gambling options — such as online poker and more slot machines in more places —
in hopes of generating needed fee and tax revenues. The state is facing a cumulative deficit of about $1.5 billion in the 2016-17 fiscal year that begins July 1.
SOURCE FULL STORY
department under a bill moving through the Legislature.
The House Gaming Oversight Committee on Wednesday unanimously passed a bill that would give the state Gaming Board oversight of fantasy sports games offered
by multi-state companies such as DraftKings and FanDuel. The bill also would allow in-state casinos to run their own virtual leagues.
The bill would not affect small office pools among co-workers who use statistics compiled and published online by ESPN or another outlet.
The bill still needs full House and Senate adoption.
If the Legislature approves the bill and Gov. Tom Wolf signs it, the Gaming Control Board would have up to 180 days to set regulations.
The law would not be in place for the start of the National Football League's 2016-17 season, but it would be in time for the Feb. 5 Super Bowl.
The bill is part of a package of legislation to expand the state's gambling options — such as online poker and more slot machines in more places —
in hopes of generating needed fee and tax revenues. The state is facing a cumulative deficit of about $1.5 billion in the 2016-17 fiscal year that begins July 1.
SOURCE FULL STORY
