Mississippi Daily Fantasy Sports Bill Signed Into Law, 12 States Now Embrace DFS
MARCH 14, 2017 BY KEVIN HORRIDGE
Mississippi daily fantasy sports (DFS) contests are now explicitly legal under state law following Governor Phil Bryant’s (R) signing of legislation that authorizes the online games.
Mississippi daily fantasy sports are now legal in the state, but President Trump’s solicitor general appointee might call for an end to sports betting prohibition in the Untied States. (Image: Jim Lo Scalzo/Associated Press)
House Bill 967, first introduced in January by State Rep. Richard Bennett (R-District 120), issues licenses to qualified operators at the minimal cost of just $5,000 for a three-year permit. Daily fantasy companies will be required to pay an eight percent tax on their net revenues.
Net revenue is defined in the bill as “the total of all fantasy contest entry fees that an operator collects from all players, less the total of all sums paid out as cash prizes.”
Like so many other states in the country, Mississippi is strapped for cash. Projections estimate that the state stands to win $5 million from the legalization of DFS, but critics say that’s a tad rich.