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Can you summarize TNRR 1350-05?
Tennessee Sports Wagering Advisory Council > Rules Related to the Fantasy Sports Act Emergency rules effective July 1, 2023 through December 28, 2023.
Short Summary
These rules, effective from July 1, 2023, through December 28, 2023, govern the regulation of fantasy sports contests in the state of Tennessee. They apply to fantasy sports operators, fantasy sports players, and Tennessee consumers. The rules define various terms related to fantasy sports contests and establish requirements for fantasy sports operators, including disclosure obligations, restrictions on certain types of contests, and definitions of highly experienced players. The document also defines the responsibilities and qualifications of fantasy sports operator contractors. Additionally, the rules outline the criteria for determining the winning outcome of fantasy sports contests and provide definitions for various terms related to prizes and entry fees. The rules further specify the obligations of fantasy sports operators regarding the establishment of private contests and the use of scripts. The document also outlines the registration requirements and Know Your Customer (KYC) obligations for fantasy sports operators, emphasizing the importance of identity verification, secure login credentials, and preventing access to minors. The rules impose limits on the amount of monthly deposits that new players can make and require fantasy sports operators to enforce self-exclusion policies. The document also addresses account monitoring to prevent misuse and the use of unauthorized scripts. Annual reporting and audits are required for fantasy sports operators, including the submission of an annual report and a full and complete audit report. The document also provides a schedule of civil penalties for violations of the Fantasy Sports Act. No specific penalties for non-compliance or violations are mentioned in the provided document. Additional fees, such as late fees and correction of information fees, may be charged by the Sports Wagering Council. Overall, these rules aim to regulate and provide guidance to the fantasy sports industry in Tennessee, ensuring fair and transparent operations for fantasy sports contests.
Whom does it apply to?
Fantasy sports operators, fantasy sports players, Tennessee consumers
What does it govern?
Regulation of fantasy sports contests in the state of Tennessee
What are exemptions?
Employees of the Sports Wagering Councils office are excluded from participating in fantasy sports contests involving a prize over five dollars ($5.00) offered by any fantasy sports operator. This section does not make a fantasy sports operator responsible for identifying Sports Wagering Council employees participating in its contests.
What are the Penalties?
No specific penalties for non-compliance or violations are mentioned in the provided document. However, civil penalties for violations of the Fantasy Sports Act are mentioned in a separate document, ranging from a minimum of $5,000 to the maximum allowed by law, with the highest penalty being $25,000.
Jurisdiction
Tennessee