Ask Reggi Your Question Now

Reggi is the free generative AI assistance for regulatory compliance
Ask a Question

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

Yes, you can obtain a fantasy sports license in Mississippi. The requirements for obtaining a license are outlined in Section 97-33-307 of the Mississippi Code Annotated and in 13 MSAC Part 15 Chapter 2 Rule 2.2.

To obtain a license, you must comply with the following requirements:

  1. Implement commercially reasonable procedures to prevent cheating, manipulation, interference with the regular conduct of sport, or violations of the integrity of any sport on which wagers were made [1.1][2.1][1.4].
  2. File an integrity alert report detailing suspicious activity to the Executive Director of the Mississippi Gaming Commission within 12 hours of identifying such activity [1.1][2.1][1.4].
  3. Comply with audit procedures adopted by the commission to ensure compliance with Section 97-33-305 [1.1][2.1][1.4].
  4. Pay a fee equivalent to 8% of the operator’s net Mississippi revenue [1.1][2.1][1.4].
  5. If your total player roster for all fantasy contests consists of 100 or more members of the general public, you must implement procedures to prevent employees of the operator and their relatives living in the same household from competing in fantasy contests offered by the operator in which the operator offers a cash prize [1.1][2.1][1.4].
  6. Verify that a fantasy contest player is 18 years of age or older, except as required in Section 97-33-307(5) [1.1][2.1][1.4].
  7. Ensure that individuals who participate or officiate in a sporting event or who own, manage, or coach a team or player who participates in a sporting event will not knowingly be allowed to enter a fantasy contest that is determined, in whole or in part, on accumulated statistical results that include a sporting event in which the individual could be involved as an athlete, official, owner, manager, or coach [1.1][2.1][1.4].
  8. Disclose the number of entries that a player may submit to each fantasy contest and provide reasonable steps to prevent players from submitting more than the allowable number [1.1][2.1][1.4].
  9. Segregate fantasy contest player funds from operational funds or maintain a reserve in the form of cash, cash equivalents, payment processor reserves and receivables, an irrevocable letter of credit, a bond, or a combination thereof, in the amount of the total account balances of the fantasy contest players for the benefit and protection of the funds held in the accounts [1.4].
  10. Obtain a license from the Mississippi Gaming Commission by submitting an application to the Executive Director on forms furnished by the Executive Director and in accordance with the regulations of the commission [1.2][3.1].
  11. Provide complete information and details with respect to the applicant’s antecedents, habits, character, business activities, financial affairs and business associates, covering at least a ten-year period immediately preceding the date of the application [1.2][3.1].
  12. Provide evidence of compliance with Section 97-33-305(2) [1.2][3.1].
  13. Pay an application fee of Five Thousand Dollars ($5,000.00) [1.2][3.1].
  14. Satisfy the commission that the applicant has adequate business probity, competence and experience, and that the proposed financing of the entire operation is adequate for the nature of the proposed operation and from a suitable source [1.2][3.1].

Note that if your total player roster for all fantasy contests over the course of any calendar year consists of one hundred (100) or more members of the general public, you must obtain a license from the Mississippi Gaming Commission to conduct fantasy contests within the state [3.1].

Therefore, to obtain a fantasy sports license in Mississippi, you must comply with the requirements outlined in Section 97-33-307 of the Mississippi Code Annotated and in 13 MSAC Part 15 Chapter 2 Rule 2.2, and obtain a license from the Mississippi Gaming Commission if your total player roster for all fantasy contests over the course of any calendar year consists of one hundred (100) or more members of the general public.

Source(s):
Jurisdiction

Mississippi