Tuesday lawmakers heard testimony on a bill that would regulate and tax fantasy sports in New Hampshire.
The bill would require fantasy sports companies to register with the state’s lottery commission, pay a registration fee, and then fork over 5% of the gross revenue from their operations each year.
The bill’s sponsor, Republican Gary Azarian, argued the regulations would create legal certainty for the relatively new industry.
“This is New Hampshire’s opportunity, in my opinion, to participate in the early growth stages, to get in on the ground floor, and reap the new non-tax revenue potential in the future, in this sector.”
Representatives from national fantasy sports companies Draft Kings and Fan Duel testified in favor of the legislation.
Opponents of the bill raised concerns about registration fees shutting out smaller fantasy sports companies.
An estimated 200,000 people in New Hampshire play fantasy sports each year.