Illinois to Weigh up the Legalization of Daily Fantasy Sports Betting

Springfield, Illinois lawmakers will be trying to legalize gambling for online daily fantasy sports with measures to regulate the various aspects of how the businesses will operate.

One of the measures is scheduled to have the first vote in a House committee Wednesday which would forbid any company employees and people under the age of 21 from participating in the games.

The Illinois Gaming Board intends to oversee the contests and the operators who may violate the law and they would face fines if they do so . Operators would also be required to pay a licensing fee based on their revenue.

The Illinois Attorney General, Lisa Madigan, has issued an opinion last December saying that the games are illegal. Some other states have reached the same conclusion however, some are trying to regulate the contests via legislation.

The two industry giants Draft Kings and FanDuel have been in the forefront at pushing for regulation in Illinois and other states.