Colorado Will Regulate Fantasy Sports

Updated 3:45 p.m. -- Colorado is starting a new Office of Fantasy Sports to regulate fantasy online sports leagues that pay jackpots.

A bill signed into law Friday by Gov. John Hickenlooper would charge fantasy betting sites a to-be-determined fee.

It also requires them to install certain safeguards, such as limiting players to adults over 18 and banning employees and their relatives from competing in the games.

Sponsors of the measure say it would send a strong message that Colorado considers fantasy sports jackpots games of skill, not chance, meaning they're permissible and not illegal gambling.