Those who follow this blog closely know that I have been writing here about legal issues in fantasy sports since long before the topic became chic. I also am the author of two law review articles on the topic: "A Short Treatise on Fantasy Sports and the Law" and "Navigating the Legal Risks of Daily Fantasy Sports."
Recently on FORBES I posted a short article entitled "Fantasy Games, Real Laws: 10 Factors States Must Consider When Regulating the Fantasy Sports Market."
The article discusses in particular ten areas where state legislators should focus when writing bills to regulate the fantasy sports industry.
The factors that I believe state legislators need to consider include the following:
1. Adequately defining the term "fantasy sports"
2. Assessing whether levels of skill should matter in determining the legality of fantasy sports contests
3. Assessing the pros and cons of requiring state licensing fees
4. The importance of understanding existing laws and policies before drafting new ones
5. Ensuring that the proposed bill benefits more than just lobbyists
6. Addressing the long-term risks of online gambling addiction
7. Addressing the adequate protection of minors based within the state
8. Determining reasonable minimum ages for eligibility to enter play-for-cash fantasy sports contests
9. Obtaining adequate disclosures of names and financial status of each fantasy sports company's shareholders
10. Ensuring that fantasy sports companies are not in a reasonably likely position to default without paying out contest winners.For those interested in reading the full FORBES article, a link can be found here.
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