The state of Alabama is welcoming back daily fantasy sports (DFS) with open arms. Legislation was passed recently and signed by Governor, Kay Ivey, legalizing DFS over three years after the activity was deemed illegal in the state. The bill passed into law with no fanfare, allowing operators such as FanDuel and DraftKings to offer their services in the region once again.
These services ceased in 2016 when the attorney general at the time, Luther Strange, decided to release the opinion that the activity was illegal. Since that time, bills involving DFS have failed to move forward until this year.
A tax of 10.5% has been set on gross revenues from daily fantasy sports. Originally, the tax was set at 8.2%.
Which means that operators like FanDuel and DraftKings, who generate over $10 million in revenues, will to pay a registration fee each year of $85,000. Smaller operators will only have to pay a $1,000 fee annually.
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