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IN SB0339
Bill
AI Summary
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Paid fantasy sports games are exempted from gambling laws and defined as games where outcomes are determined by accumulated statistical performance of individuals rather than single team performance or events.
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Game operators must pay an initial license fee of $50,000-$75,000 and an annual renewal fee of $5,000, with a new paid fantasy sports division established within the gaming commission to regulate operators and licensees.
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Game operators must implement procedures to prevent employees and owners from participating, prohibit sharing of confidential information, verify participants are at least 18 years old, and segregate participant funds with equivalent financial reserves.
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Entry fees and revenues from paid fantasy sports games conducted at licensed facilities (satellite facilities, riverboats, gambling game facilities) are exempt from gaming taxes and wagering taxes otherwise applicable to licensees.
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Beginning July 1, 2017, the child support bureau may intercept fantasy sports winnings to satisfy delinquent child support obligations, with game operators required to withhold amounts and administrative fees (up to 3% or $100).
Legislative Description
Daily fantasy sports. Provides that a paid fantasy sports game does not constitute gaming for any purpose. Provides that paid fantasy sports games may be conducted through an Internet web site maintained and operated by a game operator or on the premises of certain licensed facilities under a contract between a game operator and the owner of the licensed facility. Provides for the regulation of paid fantasy sports games by the paid fantasy sports division of the gaming commission (division). Provides that the division has certain powers and duties for purposes of administering, regulating, and enforcing paid fantasy sports. Provides
Last Action
Public Law 212
3/24/2016