New York Gov. Andrew Cuomo (finally) signs daily fantasy sports legislation

New York‘s daily fantasy sports players will be able to indulge their favorite pastime on a legal basis from now on.

On Wednesday, Gov. Andrew Cuomo (pictured) finally got around to signing the DFS bill the state legislature approved in mid-June. The news is music to the ears of DFS operators, who had feared starting a new NFL season locked out of one of their largest markets.

The bill defines DFS as a game of skill, although the New York Gaming Commission has been granted oversight over DFS activity. Operators must apply for licenses and pay 15% tax on revenue derived from New York players, the proceeds of which will go toward education funding. Operators must pay a further 0.5% of revenue (but capped at $50k) to cover licensing costs.

DFS operators that were active in New York prior to state Attorney General Eric Schneiderman’s cease & desist order last November can immediately apply for temporary permits to ensure no delay in restoring services to New York customers.