Healey files fantasy sports regulations for Massachusetts
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Attorney General Maura Healey has released her fantasy sports regulations.
Attorney General Maura Healey filed her final regulations for daily fantasy sports wagering on Friday, establishing a 21-year-old age minimum and a $1,000 per month deposit limit for most players, among other provisions aimed at protecting consumers.
The regulatory framework, which the attorney general calls on daily fantasy sports (DFS) operators to implement no later than July 1, bans fantasy contests based on amateur or college sporting events, forbids operators from extending credit to players and requires operators to identify highly-experienced players and offer games solely for beginners.
Among the most oft-cited concern in Healey's draft regulations was the age restriction to enter paid fantasy sports contests. Banning an 18-year-old from DFS but allowing her to buy state Lottery products, players and industry officials argued, is unfair.
But the final set of regulations Healey filed Friday with the secretary of state's office holds firm on the 21-year-old minimum. The regulations take effect in two weeks, according to Healey's office.
Facing shutdown orders in other states, the DFS industry has been a willing participant in Healey's regulatory efforts. Even before Friday's filing, industry leaders like Boston-based DraftKings and FanDuel said they had already begun to implement some of Healey's rules.
"We appreciate the leadership of the attorney general and her office and their willingness to have a meaningful dialogue about issues of importance to our industry," DraftKings Chief Financial Officer Tim Dent said in a statement. "The regulations put forth today by Attorney General Healey are tough, but we will comply."
DraftKings consultant and former Attorney General Martha Coakley, under whom Healey worked before running for the top office herself, said in a DraftKings statement that the Boston-based company's pledge to comply with Healey's rules is "an impressive example of a company's commitment to being responsive to its regulators."
DFS burst into the public consciousness at the beginning of the last NFL football season. Legislative leaders in Massachusetts quickly expressed interest in regulating and possibly taxing fantasy sports wagering, but no legislation has been filed to address the industry.
Instead, many on Beacon Hill deferred to Healey as she reviewed the industry, proposed regulations four months ago, collected input and now has made final her rules for the burgeoning industry.
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