INDIANAPOLIS -- An Indiana lawmaker is making a renewed push to try and help the Hoosier state cash in on fantasy sports.
The two largest fantasy sports sites, Draft Kings and Fanduel, are valued at more than $1 billion each. Last weekend alone, the two companies spent $27 million on 8,000 commercials from coast to coast.
Summed up, customers bank on certain players to do well, like a sports day trading stock market. If the team does well, paid customers can potentially cash in.
“Obviously right now, people are taking advantage of it online and that money's flowing outside of Indiana,” State Rep. Alan Morrison said.
State Rep. Alan Morrison, R-Terre Haute, is pushing a bill for a second time that seeks to let the state somehow cash in on the booming business.
“As we look at gaming throughout Indiana and how we are going to further the business model, looking at maybe placing those types of daily fantasy services inside our gaming facilities I think is a good step for Indiana,” Morrison said.
Morrison said he gets the appeal. The sites are legal thanks to a 2006 loophole that says the sites are more skill than sports gambling. Morrison said maybe all the buzz this year, will pay off for his bill.
“This year I plan on trying to lay the groundwork a little earlier and see if we can get a hearing and work it through committee and hopefully get it on to the floor,” he said.
