he Governor's signature puts into action a bill (H 249) passed late in the legislative session in June by both the House and Senate.
According to Legal Sports Report, the new law sets Delaware up to have the most demanding fee and tax structure overseeing DFS in the United States. Operators will have to pay both a $50,000 fee and a tax rate on gross revenue in the state of either 15.5 percent or the highest current fantasy sports tax rate in the country.
Among the key aspects of the new legislation are:
- The governor will choose which department regulation of the industry falls under.
- Whichever department oversees the industry appears to have wide authority to promulgate regulations.
- A number of consumer protections are established, including language regarding truth in advertising, responsible gaming protocols, and segregation of player and operational funds.
- It sets a minimum age of 18 years for players.
- The law bans contests based on college and amateur events, as well as horse racing.
- The law sunsets in 2019, with instructions for a report on recommendations to revise the law due in that year.