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Can you summarize 491 IAAC 14.14?
FANTASY SPORTS CONTESTS > Licensing of internet fantasy sports contest service providers.
Short Summary
This document governs the licensing of internet fantasy sports contest service providers. It applies specifically to internet fantasy sports contest service providers. The document outlines the requirements for commission approval, including the submission of internal controls, systems and procedures for validating the identity, age, and location of account holders, and the legality of wagers accepted. It also mandates secure retention of records related to internet fantasy sports contests and accounts for a specified period. Additionally, the document requires prompt commission access to account holder records and verification that players are not on the statewide voluntary self-exclusion list. The document further specifies record-keeping obligations, including maintaining records of business operations and correspondence with the administrator and other governmental agencies. Violation of laws, regulations, or commission rules may result in penalties such as license limitations, conditions, restrictions, revocation, suspension, or fines. The commission has the discretion to suspend fantasy sports contest operations if necessary.
Whom does it apply to?
Internet fantasy sports contest service providers
What does it govern?
Licensing of internet fantasy sports contest service providers
What are exemptions?
No exemptions are mentioned.
What are the Penalties?
Limiting, conditioning, restricting, revoking or suspending the license, or fining the licensee, or any combination of the above
Jurisdiction
Iowa