Small fantasy sports companies lobby to stop possible law


ALBANY, N.Y. (AP) — Small businesses providing fantasy sports are lobbying to prevent legislation from passing in New York that would make licensing too expensive for everyone but giants DraftKings and FanDuel.

The group Small Business of Fantasy Sports says the $500,000 licensing fee in pending legislation would keep out the “mom and pop type businesses” that make up most of the industry.

Its 35 members provide both daily and season-long games where players select teams of professional athletes and then win or lose depending on how they perform altogether.

They also object to a proposed 15 percent tax on revenue, suggesting 5 percent instead.

DraftKings and FanDuel agreed with the state attorney general last week to stop taking bets in New York while lawmakers consider legalizing the games.