Substitute House Bill Number 132 - Summary

• Grants the Ohio Casino Control Commission authority to license, regulate, investigate, and penalize fantasy contest operators under a new Chapter 3774 of the Revised Code.

• Defines "fantasy contest" as a simulated game with entry fees where winning is determined predominantly by accumulated statistical performance of athletes in professional sports competitions, excluding single-game outcomes and horse racing.

• Requires fantasy contest operators to obtain a nonrefundable license from the commission (not to exceed $10,000 annually or $30,000 for three-year license) and maintain records for at least five years.

• Establishes prohibited practices including prohibiting employees and athletes from competing, barring minors and self-restricted individuals from participation, and requiring segregation of player funds or maintenance of reserves exceeding player account balances.

• Exempts properly regulated fantasy contests offered in compliance with this chapter from Ohio gambling laws, and allows existing operators to continue without interruption if they apply for licensure within 30 days of the application becoming available.