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Can you summarize MTAR 23.16, Subchapter 32?
GAMBLING CONTROL DIVISION > Fantasy Sports Leagues
Short Summary
The provided legal document content consists of definitions and regulations related to the operation of fantasy sports leagues under the jurisdiction of the Gambling Control Division of the Montana Department of Justice. The document includes definitions for terms such as ‘administrative fee’, ’entrance fee’, ‘fantasy sports league’, ‘member’, ‘prize’, and ’transaction fee’. It states that an administrative fee, not exceeding 15% of a member’s entrance fee, may be charged for expenses related to the operation of a fantasy sports league. The entrance fee is the amount charged for membership, excluding any administrative fee. A fantasy sports league is considered a gambling activity as defined in the Montana Code Annotated. A member refers to a person or group of persons who own a fictitious team competing in a fantasy sports league. A prize is anything of value awarded to a winner of a fantasy sports league. A transaction fee may be charged for trading or purchasing a player after the initial teams are selected, with the fee not exceeding the entrance fee. The document also specifies the requirements for the rules of a fantasy sports league, including the information that must be provided to each member, such as the name and contact details of the league organizer, fees charged, professional sport and teams involved, season length, team roster size, player selection method, point allocation method, and anticipated prizes. Additionally, the document outlines the record-keeping obligations for organizations or individuals conducting a fantasy sports league, including the retention of participant information, fee amounts, trade or purchase records, proof of merchandise prize purchase price, and a list of awarded prizes. These records must be presented to the department upon request. The document further states that a representative of each member must be present for team player selection and trading or purchasing interim players. Entrance, administrative, and transaction fees must be paid in cash, and the total value of prizes awarded must equal the total amount collected for fees, minus any administrative expenses. Overall, these regulations aim to provide guidelines for the operation and regulation of fantasy sports leagues in Montana.
Whom does it apply to?
Organizations or individuals conducting a fantasy sports league, members of the league
What does it govern?
Operation of fantasy sports leagues
What are exemptions?
No exemptions are mentioned.
What are the Penalties?
No specific penalties are mentioned.
Jurisdiction
Montana