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Can you summarize IACO Chapter 99E?
PUBLIC SERVICES AND REGULATION > INTERNET FANTASY SPORTS CONTESTS
Short Summary
These legal documents, governed by the Iowa Code, pertain to the jurisdiction and supervision of internet fantasy sports contests and internet fantasy sports contest service providers. The documents define key terms and establish that internet fantasy sports contests involve fantasy or simulated games or contests where the operator is not a participant, the prizes and awards are predetermined, the outcomes reflect the skill of the participants, and no outcome is solely based on the performance of a single team or individual. However, until May 1, 2020, fantasy sports contests based on collegiate sporting events are excluded from the definition of internet fantasy sports contests. The documents outline the powers and responsibilities of the commission in regulating internet fantasy sports contests and service providers in Iowa. The commission has the power to review and investigate applicants for a license, as well as license and regulate internet fantasy sports contest service providers. It is also responsible for preventing practices detrimental to the public and enforcing the best interests of internet fantasy sports contests. The commission has the authority to investigate alleged violations, take disciplinary action against licensees, and impose fines, license revocation or suspension, and other penalties for violations. The documents also outline the requirements and procedures for obtaining a license to conduct internet fantasy sports contests in Iowa. Applicants must complete and sign an application form provided by the commission and undergo a background investigation. The documents also specify the obligations of licensed internet fantasy sports contest service providers, such as preventing employees and their relatives from competing in contests, verifying the age of players, and ensuring that individuals involved in the actual games or contests cannot participate in the fantasy contests. Additionally, the documents mandate the inclusion of problem gambling information on the licensee’s website or mobile application, allow electronic communication for account establishment, and impose restrictions on the number of entries a player can submit. The documents also require the segregation of player funds from operational funds and the conduct of an annual audit. The payment of taxes and the prohibition of credit card payments by participants are also mentioned. Violation of the listed conditions may result in immediate license revocation. Overall, these documents provide comprehensive guidelines for the regulation and operation of internet fantasy sports contests in Iowa.
Whom does it apply to?
Internet fantasy sports contest service providers, applicants, licensees, and internet fantasy sports contest players
What does it govern?
Internet fantasy sports contests
What are exemptions?
Until May 1, 2020, fantasy sports contests based on collegiate sporting events are excluded from the definition of internet fantasy sports contests
What are the Penalties?
No specific penalties are mentioned in this document
Jurisdiction
Iowa