Virginia’s General Assembly recently sent the Fantasy Sports Act to governor Terry McAuliffe, and now that he’s signed, it is the first state with daily fantasy law on the books. Highlights of the bill include a $50,000 registration fee for companies like DraftKings and FanDuel and age restrictions on players (you must be 18, much like gambling). Oh, and in a nod to the mess that put the industry in the spotlight: employees and their relatives can’t play in any contests. What’s more, site operators need to keep player and operational funds separate in addition to keeping data secure.
DraftKings itself offered a statement thanking the governor, calling the bill “thoughtful and appropriate” in terms of protecting the rights of players. He has good reason to be glad: this marks the first state that’s out and out recognized daily fantasy play as a legal activity.
The company recently said it’d fight the Texas ruling that paid sports betting is illegal in Texas as well, while FanDuel conceded to stop taking paid bets in the Lone Star State altogether.