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

To obtain a fantasy sports license in Louisiana, you must meet the following requirements:

Requirements for obtaining a fantasy sports license in Louisiana

  1. Be a person domiciled in Louisiana or a domestic business entity with a certificate of existence from the secretary of state and in good standing or a foreign corporation with a certificate of authority to transact business in this state from the secretary of state and in good standing [1.1].
  2. Demonstrate to the board that the operator is suitable for licensing pursuant to R.S. 27:28 [1.1].
  3. Provide the board with financial statements indicating any gross fantasy sports contest revenue for the previous three years [1.1].
  4. Submit an initial application fee of one thousand dollars, which is non-refundable [1.1].
  5. Pay the license fee for a fantasy sports contest license, which shall be submitted to the division prior to the issuance of the license. Each license shall be granted for a term of three years. The license fee shall be determined based on the three-year average of the licensee’s gross fantasy sports contest revenue [1.1].
  6. Submit evidence to the board that the operator has established and will implement commercially reasonable procedures for fantasy sports contests with an entry fee [1.5].
  7. Prevent employees of the fantasy sports contest operator, and relatives of an employee living in the same household as an employee of an operator, from competing in fantasy sports contests offered by an operator in which the operator offers a cash prize to the general public [1.5].
  8. Prevent sharing of confidential information that could affect fantasy sports contests with third parties until the information is made publicly available [1.5].
  9. Provide that no winning outcome is based on the score, point spread, or any performance of any single real-world sports team or combination of such teams or solely on any single performance of an individual athlete or person engaged in any single real-world sporting event [1.5].
  10. Ensure that any of following persons do not participate in fantasy sports contests: (a) Athletes and individuals who engage in or officiate a game or competition that is a real-world sport or athletic event that is the subject of a fantasy sports contest. (b) Any sports agent, team employee, referee, or league official associated with a real-world sport or athletic event that is the subject of a fantasy sports contest [1.5].
  11. Verify that a fantasy sports contest player is twenty-one years of age or older [1.5].
  12. Provide fantasy sports contest players with access to information on responsible play [1.5].
  13. Provide fantasy sports contest players with access to the fantasy sports contest player’s play history and account details that are not confidential [1.5].
  14. Allow individuals to restrict themselves from entering a fantasy sports contest upon request and provide reasonable steps to prevent the person entering fantasy sports contests offered by an operator [1.5].
  15. Segregate fantasy sports contest player funds from operational funds or maintain a reserve that exceeds the amount of player funds on deposit, which may not be used for operational activities [1.5].
  16. Not offer fantasy sports contests based on the performances of athletes or persons that engage in high school or youth athletic events [1.5].
  17. Not offer a fantasy sports contest to the general public that does not establish and make known all prizes and awards offered to winning participants in advance of the game or contest [1.5].
  18. Annually contract with a certified public accountant to conduct an independent audit that is consistent with the standards accepted by the American Institute of Certified Public Accountants [1.5].
  19. Submit to the board a copy of the audit report [1.5].
  20. Submit financial reports as required by R.S. 27:310 [1.5].

Please note that participation in fantasy sports contests is prohibited in any parish in which a majority of the qualified electors in the parish voting on the proposition to authorize fantasy sports contests in the parish voted against the proposition [1.6]. Additionally, no fantasy sports contest shall be allowed in any parish unless first approved at an election held for such purpose pursuant to the provisions of LARS § 27.303 [1.2].

The board shall consider all applications for licensure and shall issue a license to an applicant that meets the criteria set forth in this Chapter and as established by the board. The board shall deny a license to any applicant who does not meet the criteria as set forth in this Chapter and as established by the board. The board shall issue or deny an operator’s license within sixty days of receipt of an application for licensure. If a license is not issued, the board shall provide the operator with specific reasons for not issuing a license [1.4].

If you meet all of these requirements and the necessary elections have been held, you can apply for a fantasy sports license in Louisiana.

Source(s):
Jurisdiction

Louisiana