Can I obtain a fantasy sports license in Delaware? What are the requirements?

Yes, you can obtain a fantasy sports license in Delaware. The requirements for obtaining a fantasy sports license in Delaware are outlined in 29 DECO 4864. To obtain a fantasy sports license, you must submit an application for registration that includes the following requirements:

• The full name and principal address of the operator
• If a corporation, the name of the state in which incorporated and the full names and addresses of any partner, officer, director, shareholders holding 10% or more equity, and ultimate equitable owners.
• If a business entity other than a corporation, the full names and addresses of the principals, partners, members, and other types of equity holders holding 5% or more equity, and ultimate equitable owners.
• Whether such corporation or entity files information and reports with the United States Securities and Exchange Commission as required by § 13 of the Securities Exchange Act of 1934 (15 U.S.C. § 78m); or whether the securities of the corporation or entity are regularly traded on an established securities market in the United States.
• The type and estimated number of contests to be conducted annually.
• A statement of the assets and liabilities of the operator.
• Criminal record information regarding the criminal record, if any, of the individuals involved in the day-to-day management of interactive fantasy sports contests or operations, and as applicable to the entity’s business structure.

Additionally, individuals identified in paragraph (a)(7)a. of this section shall be required to submit fingerprints and other necessary information in order to obtain a criminal background check. All information obtained pursuant to this subsection shall be forwarded to the Division, which shall access the information and make a determination to approve or deny an application for registration. The Director may impose a monetary penalty, not to exceed $1,000 per violation, deny any application for registration, or suspend, refuse to renew, or revoke any existing registration issued pursuant to this subchapter, upon the finding that the operator or registrant, or any individual identified in paragraph (a)(7)a. of this section has done any of the following:

• Knowingly made a false statement of material fact or has deliberately failed to disclose any information required by the Director.
• Had a registration or license to offer or conduct contests denied, suspended, or revoked in any other state or country for just cause.
• Legally defaulted in the payment of any obligation or debt due to the federal government, or any state or political subdivision.
• Within 10 years of the date of the application for registration, has been found guilty of any illegal, corrupt, or fraudulent act, practice, or conduct in connection with any interactive fantasy sport contest in this or any other state; or convicted of a felony, or any criminal offense involving dishonesty or breach of trust.
• At any time, knowingly failed to comply with any requirement of this chapter, any regulations promulgated by the Director, or any other additional requirements of the Director.

Once you have submitted your application and paid the required fee, the Division will review your application and make a determination to approve or deny your application for registration. ^[2.1]

Source(s):

• [2.1] Registration.

Jurisdiction

Delaware

• Gaming