(Photo courtesy www.ilga.gov)
By Eric Stock
SPRINGFIELD – There’s at least one industry that is begging to be regulated and taxed – fantasy sports.
Illinois Attorney General Lisa Madigan issued a ruling in late 2015 that online fantasy sports contests offered by FanDuel and DraftKings were illegal until lawmakers make it legal. An Illinois House committee is expected to take up such a measure on Wednesday.
Chairman of the Fantasy Sports Trade Association Peter Schoenke told WJBC Scott Laughlin and Patti Penn, the current proposal provides common sense regulation and consumer protections for the fantasy sports marketplace in Illinois and provides certainty for the industry.
PODCAST: Listen to Scott and Patti’s interview with Schoenke on WJBC.
“People have been playing fantasy sports in Illinois for more than 20 years, they have been playing daily fantasy sports for more than five years,” Schoenke said. “It’s never been called into question until our industry got a little bit bigger.”
Schoenke added the industry would generate at least some money for the state.
“It’s not going to solve the Illinois budget crisis unfortunately, we are a small industry,” Schoenke said. “There are misconceptions because the prizes have grown and there’s a lot of advertising that we’re this huge industry that’s going to bring tens of millions of dollars to each state and that’s not true.”
The fantasy sports industry contends it markets games of skill not games of chance like gambling.
House Bill 3633 is cosponsored by Reps. Mike Zalewski (D-Riverside), John Cabello (R-Loves Park) and C.D. Davidsmeyer (R-Jacksonville)
Eric Stock can be reached at [email protected].
