INDIANAPOLIS (AP) -
The Indiana Gaming Commission will soon have the authority to regulate
fantasy sports companies.
The governor’s
office says Gov. Mike Pence signed into law Thursday a bill allowing the
commission to oversee companies that offer the games where players compete
online for cash prizes by picking teams of real-life athletes.
The law taking
effect in July requires players to be at least 18 years old, prohibits
contests based on college or high school sports. It sets an initial
licensing fee of $50,000 for companies, along with an annual $5,000 fee.
Supporters said the
law is necessary to ensure fair contests for the estimated 1 million Indiana
residents who play fantasy sports games. Opponents argued that the games
amount to gambling on sporting events and shouldn’t be legalized.