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Can I offer contests that involve entry fees in Missouri? What are the requirements?

To offer contests that involve entry fees in Missouri, you need to obtain a Fantasy Sports Contest Operator (FSCO) license from the Missouri Gaming Commission [1.3]. The FSCO license allows a person, entity, or division of a corporate entity to offer fantasy sports contests (FSCs) for play by persons located in Missouri in accordance with the Missouri Fantasy Sports Consumer Protection Act [1.3].

To become licensed as an FSCO, you need to submit an Application for Fantasy Sports Contest Operator License to the Missouri Gaming Commission [1.3]. The application form can be accessed at [1.3]. You also need to complete the FSCO Personal Disclosure Form and submit it along with the required fingerprint sets within thirty (30) days of the commission’s request [1.3].

You have a continuing duty to disclose in writing any material change in the information provided in the application forms and requested materials submitted to the commission [1.5]. Any change in information that is not material must be disclosed to the commission during the licensee’s next subsequent application for license renewal [1.5].

Licensed operators shall promptly report to the commission any facts which the licensed operator has reasonable grounds to believe indicate a violation of law or commission rule committed by licensed operators, their key persons, or their employees, including, without limitation, the performance of licensed activities different from those permitted under their license [1.5].

In addition, licensed operators must comply with the operational requirements for fantasy sports contest operators, including maintaining a properly constituted special purpose entity approved by the commission to segregate player funds from operational funds [1.2][1.4]. The licensed operator must also continuously monitor and maintain a record of all funds held in player accounts and the amount held by the special purpose entity to ensure compliance with section 313.915, RSMo [1.2].

Therefore, to offer contests that involve entry fees in Missouri, you need to obtain an FSCO license from the Missouri Gaming Commission, complete the FSCO Personal Disclosure Form, comply with the continuing duty to disclose any material change in the information provided in the application forms and requested materials submitted to the commission, and comply with the operational requirements for fantasy sports contest operators [1.2][1.3][1.4][1.5].

Source(s):
Jurisdiction

Missouri