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Maryland Plan to Introduce New DFS Regulation
- July 19, 2016 By Nemanja L. -
Maryland are the latest US state determined to introduce a new legal framework that would regular daily fantasy websites as the government is well aware that the DFS market has changed over the last couple of years.
State Comptroller Peter Franchot has revealed a number of proposals designed to protect the residents from the harms of unregulated DFS market, which clearly suggests that the state bosses are taking daily fantasy contests very seriously.
The Maryland government wants to ensure that no persons under the age of 18 are allowed to take part in DFS contests, while pro athletes and employees of fantasy sports operators as well as members of their family are also banned from participating.
DFS operators in Maryland will now be allowed to create contests around college competitions and amateur sports, while another interesting proposals suggests that the websites will be obliged to clearly identify more experienced players, also known as sharks, to all new players who are joining the game in an attempt to secure a fair gaming experience.
Maryland to Tighten Grip on DFS Operators
Maryland General Assembly decided back in 2012 that fantasy sports would be exempt from the state’s ban on betting, and that ruling had a major effect on the steady growth of DFS websites in the state.
As a result, the state Comptroller decided that new legal framework is required if the country residents are to be fully protected from potential harms of what is clearly a new form of wagering on sports.
Franchot is well aware of the fact that a host of Maryland residents enjoy taking part in DFS contests, but, on the other hand, there is no legal framework to protect them from potential unfair rules and problems with withdrawing the cash.
At the same time, the players are not aware whether they are required to pay taxes on those winnings, so the Controller believes that rules soon need to be enforced if the situation is going to change.
Another interesting measure states that no participants will be allowed to deposit more than $1,000 per month, unless they request the limit to be increased.