Monday, November 12th, 2018 am30 11:58am

Indiana legalizes daily fantasy

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Indiana followed Virginia, becoming the second state to legalize daily fantasy sports when Gov. Mike Pence signed a bill Thursday that allows the gaming activity.

Indiana’s new law contrasts with the actions taken in other states, including New York, where the attorney general declared daily sports fantasy illegal.

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Maryland residents will have an opportunity to vote in a November referendum on whether to permit daily sports fantasy in the state.

Indiana requires players to be at least age 18 and prohibits the use of college and high school sports and horse racing for the fantasy contests.

The state created a Paid Fantasy Sports Division as part of the Indiana Gaming Commission to oversee the activity. A $50,000 entry fee will be required for daily sports fantasy companies to establish a presence in the state.

“Today, Indiana became yet another state to put in place a thoughtful and appropriate regulatory framework to protect the rights of fantasy players,” said Griffin Finan, director of public affairs for DraftKings. “We thank Governor Pence for his leadership and advocacy and are hopeful that other states across the country will follow Indiana’s lead.”

DraftKings and FanDuel are the two largest companies in the industry.

It is estimated that 50,000 to 150,000 people engage in daily fantasy sports in Indiana.

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