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Colorado legislature puts rules on pay-for-play fantasy sports leagues – The Denver Post

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A group of men head down the central staircase in the Colorado State Capitol, Tuesday, April 5, 2016, as lawmakers meet in session. The Colorado

A group of men head down the central staircase in the Colorado State Capitol, Tuesday, April 5, 2016, as lawmakers meet in session. The Colorado Legislature will meet for roughly another month before closing the 2016 session. (AP Photo/David Zalubowski) (David Zalubowski/AP)

The Colorado legislature is considering a bill that would begin licensing  and regulating fantasy sports operators such as DraftKings and FanDuel. (Getty

The Colorado legislature is considering a bill that would begin licensing and regulating fantasy sports operators such as DraftKings and FanDuel. (Getty Images file)

A bill to regulate fantasy sports leagues in Colorado is on its way to the governor to be signed into law, after the Senate gave it final approval Friday night.

The legislation is aimed at pay-for-play fantasy sports leagues that have been banned in some states, where leaders have seen them as a form of gambling.

House Democratic leader Crisanta Duran, who championed the bill, said reasonable regulation would preserve the popular games while making sure they’re played fair and square with prohibitions against minors playing and illegal betting.

House Bill 1404 would require those who operate the games to submit to background checks, contract annual independent audits and keep records of daily operations for at least three years.

Professionally operated leagues would be required to register with a newly created Office of Fantasy Contests within the Colorado Department of Regulatory Agencies.

The bill passed the Senate on a 26-7 vote. It was supported by the fantasy sports industry, as well as the Denver Broncos and the Denver Nuggets, to preserve the integrity and viability of the games.

“This is a good, pro-business bill that will protect the consumers and will protect integrity of fantasy sports games,” said Senate Democratic leader Lucia Guzman of Denver, a pastor who carried the bill in the Senate with former Weld County Sheriff John Cooke of Greeley. “While other states are moving to ban them outright, we in Colorado are acting in the spirit of our business-friendly climate to ensure this industry can continue to grow and thrive in our state.”

If signed by Gov. John Hickenlooper, as expected, the regulations would take effect July 1, 2017.

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