Rhode Island Legislation Aims to Strengthen Fantasy Sports Regulations
Providence, RI — On May 13, Robert Melvin, Northeast Region Director of the R Street Institute (RSI), testified in support of House Bill 6076, known as the "Fantasy Sports Consumer Protection Act," during a session of the House Finance Committee.
Melvin emphasized that while online fantasy sports are currently allowed in Rhode Island, they lack sufficient regulatory oversight, tax benefits, and consumer protections. H 6076 seeks to formalize the existing legal framework, implementing a licensing system that mandates consumer protection measures such as age and location verification and responsible gaming practices.
The proposed legislation also distinguishes between daily fantasy sports (DFS) and traditional sports gambling, which carries different legal implications. Melvin underscored that the bill would impose a ten percent tax on fantasy sports contests and establish a voluntary self-exclusion program aimed at addressing problem gaming.
Fantasy sports have deep roots in American culture, tracing back to the 1960s, and have grown to attract approximately 50.4 million players in 2022, thanks in part to technological advancements. The legislation aims to expand options for Rhode Island players, allowing single-player DFS that pits participants against performance benchmarks rather than each other.
Melvin advocated for the bill against potential concerns about addiction, noting that H 6076 includes provisions to mitigate compulsive gaming risks and promote responsible play.
In summary, H 6076 seeks to balance consumer freedom with public safety, providing clear regulations and tax revenues for Rhode Island. Melvin concluded by urging the committee to support the bill to enhance protections for consumers while fostering a robust fantasy sports industry.
For more information, contact:
Robert Melvin
Northeast Region State Government Affairs Director
R Street Institute
Email: rmelvin@rstreet.org
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