SPRINGFIELD, IL (KFVS) - A proposed bill in Illinois that would support fantasy sports gambling in the state is garnering support from some of the biggest organizations in the industry.
The Fantasy Sports Trade Association is supporting HB4323, which passed the House Judiciary Committee on Wednesday.
Proponents say the bill provides "common sense regulation and consumer protections for the fantasy sports marketplace in Illinois, generates revenue for the State of Illinois determined on a sliding scale based on fantasy sports operators' revenue, and provides certainty for the industry to grow and players to enjoy."
"This bill reflects thoughtful and appropriate regulation for an industry valued by more than two million people in Illinois who participate in fantasy sports contests," said Peter Schoenke, chairman of the FSTA.
"The level of consumer protections are among the safest in the country and the revenue model for the state is viable for operators both large and small."
Stacie Stern, general manager of Head2Head Sports, adds, "This bill establishes legal certainty for the fantasy contest providers, and those who participate in this massively popular leisure activity. More than a dozen fantasy sports related companies are based here in Illinois - they're contest operators, statistics providers, marketing professionals and other related categories. Passing commonsense regulation will allow the fantasy sports industry to keep creating jobs in Illinois."