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

Referral Bonuses in Missouri Fantasy Sports Contests

Referral bonuses are not specifically addressed in the Missouri gaming regulations [1.1]. However, licensed operators of fantasy sports contests are required to comply with various operational requirements, including maintaining a record of all funds held in player accounts, monitoring compliance with player fund segregation requirements, and providing documentation of funds held in player accounts and special purpose entities [1.1]. Additionally, licensed operators must maintain a current set of procedures for a registered player to report complaints regarding account mishandling and must take commercially and technologically reasonable measures to verify the true identity, date of birth, and address of each player seeking to open an account [1.3].

If referral bonuses are offered, it is recommended that licensed operators ensure that they comply with all applicable regulations and maintain accurate records of all funds and transactions. It is also recommended that licensed operators maintain clear and detailed procedures for handling complaints and verifying player identities.

To become a licensed fantasy sports contest operator (FSCO) in Missouri, an application must be submitted to the Missouri Gaming Commission (MGC) [1.2]. The application process includes submitting a Fantasy Sports Contest Operator Application, a FSCO Personal Disclosure Form, and a FSCO Renewal Form [1.2]. Licensed operators and applicants for FSCO licenses have a continuing duty to disclose any material changes in the information provided in the application forms and requested materials submitted to the commission [1.4].

Licensed operators are also required to 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 [1.4].

In summary, referral bonuses are not specifically addressed in the Missouri gaming regulations, but licensed operators of fantasy sports contests must comply with various operational requirements and maintain accurate records of all funds and transactions. It is recommended that licensed operators maintain clear and detailed procedures for handling complaints and verifying player identities. To become a licensed FSCO in Missouri, an application must be submitted to the MGC, and licensed operators and applicants for FSCO licenses have a continuing duty to disclose any material changes in the information provided in the application forms and requested materials submitted to the commission. Licensed operators are also required to promptly report any violations of law or commission rules to the commission.

Source(s):
Jurisdiction

Missouri