AN ACT TO AMEND TITLE 29 OF THE DELAWARE CODE RELATING TO INTERACTIVE FANTASY CONTESTS.

An estimated 100,000 people in Delaware participate in some form of fantasy sports, whether it is a football or baseball league with their friends and family, or more recently, a daily or weekly contest against players from across the country. This legislation confirms that those contests are "games of skill" and, therefore, not a form of illegal gambling under Delaware law. It also requires operators to apply for a license and comply with some of the strictest consumer protection safeguards in the nation. Finally, the legislation subjects operators of paid fantasy sports contests to a 15% tax on their net adjusted revenues, as well as a $50,000 annual fee.