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Can I offer contests that involve referral bonuses in Iowa? What are the requirements?

Based on the provided context documents, it appears that offering contests that involve referral bonuses in Iowa is subject to certain requirements.

Requirements for Offering Contests with Referral Bonuses in Iowa

To offer contests with referral bonuses in Iowa, you must comply with the following requirements:

  1. Obtain authorization from the lottery authority board [1.1].
  2. Obtain a license from the Iowa Racing and Gaming Commission [2.1].
  3. Meet the licensing standards set forth in Iowa Code section 99E.5 and rules 491—6.2(99D,99E,99F,252J) to 491—6.13(99D,99F,272D) [2.1].
  4. Demonstrate financial stability, business ability and experience, good character and reputation of the applicant as well as all directors, officers, partners, and employees and integrity of financial backers [2.1].
  5. Disclose the true owners of the enterprise proposed [2.1].
  6. Not knowingly make a false statement of a material fact to the commission [2.1].
  7. Meet a monetary obligation in connection with conducting an internet fantasy sports contest [2.1].
  8. Be of good repute and moral character or not have pled guilty to, or have been convicted of, a felony [2.1].
  9. Ensure that any member of the board of directors or governing body of the applicant is 21 years of age or older [2.1].
  10. Submit a bond or irrevocable letter of credit on behalf of the applicant or other satisfactory evidence, as determined by the commission, of a safe and reliable means of fulfilling the applicant’s obligations to customers and the state of Iowa in an amount determined by the commission [2.1].
  11. Submit a notice of intent to apply on a form provided by the authority [6.1].
  12. Submit a complete and eligible application that includes the information detailed in application requirements [6.1].
  13. Demonstrate matching funds in order to receive financial assistance pursuant to this rule [4.2].
  14. Not receive financial assistance in an amount exceeding 50 percent of the total cost of the project [4.2].
  15. Not use financial assistance received under the program as reimbursement for completed projects [4.2].
  16. Ensure that the total amount of financial assistance provided to an applicant in any one fiscal year shall not exceed $500,000 [4.2].

Conclusion

To summarize, offering contests that involve referral bonuses in Iowa is subject to certain requirements, including obtaining authorization from the lottery authority board, obtaining a license from the Iowa Racing and Gaming Commission, meeting licensing standards, demonstrating financial stability and good character, and submitting a complete and eligible application. Additionally, financial assistance for eligible marketing projects is available, subject to certain requirements, including demonstrating matching funds and not receiving financial assistance in an amount exceeding 50 percent of the total cost of the project.

Source(s):
Jurisdiction

Iowa