BOSTON (WWLP) — It’s an innovative and lucrative industry. Governor Charlie Baker signed a new law allowing daily fantasy sports companies to expand, and grow their business in Massachusetts.
Governor Baker said, “It was important for us as a Commonwealth to establish some criteria, a playing field if you will for this type of thing, and I think we’ve done that.”
Websites like DraftKings and FanDuel allow players to draft sports teams to compete in daily or weekly contests, most of the time involving money. The new state law bans people under the age of 21 from playing daily fantasy sports, and bans advertisements on college campuses to prevent young adults from developing a gambling addiction.
The daily fantasy sports industry needed clarification on whether they’re a legal entity under the state’s gaming law. State regulations are often viewed as a barrier for businesses, but DraftKings Co-Founder and CEO told 22News the new law does just the opposite.
“I think regulations can bog us down, but if it’s done the right way it enables industry. It allows it to continue to flourish, and in our case it’ll help. It’ll make it so that we can grow faster,” said Jason Robins of DraftKings.
The law allows daily fantasy sports companies to work with credit card companies and employ more people in this rapidly growing industry.
Governor Baker said it’s too soon to tell whether legalizing online daily fantasy sports will have an impact on casinos like MGM Springfield.