Georgia Moves to Legalize Daily Fantasy Sports with New Bill

Introduced by a bipartisan group of lawmakers, HB 1329 seeks to regulate DFS competitions under the oversight of the Georgia Lottery and impose a 20% tax on operators’ adjusted gross fantasy contest receipts.

Defining DFS as a Game of Skill

HB 1329 categorizes DFS as a game of skill, emphasizing the strategic assembly and management of fictional sports teams by participants. The bill outlines clear scoring criteria based on real-world sporting events, setting the stage for a regulated and skill-based gaming environment.

The proposed legislation introduces a two-tier licensing system, distinguishing between “large operators” and other entities based on their adjusted gross receipts. Large operators, defined by their significant earnings, will face higher application and licensing fees, aligning with the bill’s goal to establish a fair and scalable regulatory framework.

Implications for PrizePicks and the DFS Market

The passage of HB 1329 could have a profound impact on Georgia-based DFS operators like PrizePicks, offering a regulatory reprieve amidst recent challenges in other states. As PrizePicks navigates cease-and-desist orders in Arkansas and Florida, the potential legalization in Georgia presents an opportunity for the company to strengthen its foothold in its home state.

Our Comment on the Article

The introduction of HB 1329 in Georgia represents a pivotal moment for the DFS industry, signaling a growing acceptance of skill-based gaming within regulated frameworks.

As Georgia explores the legalization of DFS, the bill sets a precedent for balancing innovation with responsible gaming practices. The potential positive impact on local operators like PrizePicks underscores the importance of supportive legislation in nurturing the gaming ecosystem.