Texas To Consider Legalizing Daily Fantasy SportsState Would Be Latest To Modernize Law For DFS |
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Despite being one of the least gambling-friendly states in the nation, Texas will take a look at regulating daily fantasy sports this year.
A series of bills have been introduced that would make the games legal within Lone Star State borders. In January of last year, Texas said the DFS sites were in violation of its gambling laws. The stance drew criticism from Dallas Mavericks owner Mark Cuban.
The proposals would define DFS as a skill game and thus exempt from the gambling laws.
Research from Eilers & Krejcik Gaming said that Texas accounted for roughly 300,000 unique paying players for the DFS industry in 2015, which was about eight percent of the market.
In late 2015, the governor of Texas told the state lottery to end its interest in online gaming, including fantasy sports. Without a single commercial casino, Texas is in the minority of states.
The DFS market last year was worth about $3.3 billion, according to Eilers & Krejcik Gaming. Revenue for 2016 had previously been projected at more than $4 billion. The market is projected to be $4.8 billion in 2020, down from a prior estimation of about $8 billion.
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