LANSING KALAMAZOO (WKZO AM/FM) — Representative Brandt Iden of Oshtemo insists that laying down money on Fantasy Sports teams is not gambling.
The Lame Duck House has approved two of his bills.
One would exempt operations like FanDuel and DraftKings from prohibitions against gambling, and the other bill assigns oversight for the leagues to the Michigan Gaming Control Board, which oversees casinos, horse tracks and other gambling operations to maintain their fairness.
Iden says the practitioners of this activity are students who carefully study statistics and the health of athletes.
He says it’s a game of skill and not chance.
Under the new regulations it will cost the leagues $50,000 to ante-up for permits, and $20,000 each succeeding year.
It also provides guarantees that winners get paid off.
Iden also has a bill that would allow actual sports gambling, which he plans to reintroduce next session.
The Fantasy Sports bills now head to the State Senate for their consideration.
