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03.11.01.00.htm 03.11.01.00. Title 03 COMPTROLLER OF THE TREASURY Subtitle 11 ONLINE FANTASY COMPETITIONS Chapter 01 Fantasy Sports Competition Regulations Authority: Criminal Law Article, §12-114, Annotated Code of Maryland
03.11.01.01.htm 03.11.01.01. 01 Definitions.. A. In this chapter, the following terms have the meanings indicated.. B. Terms Defined.. 1) “Agency” means the Office of the Comptroller.. 2) “Beginner player” means any fantasy sports player who:. a) Has entered fewer than 51 fantasy sports competitions offered by a single fantasy sports operator; andb) Does not meet the definition of highly experienced player.. 3) “Entry fee” means cash or cash equivalents that are required to be paid by a fantasy sports playe
03.11.01.02.htm 03.11.01.02. 02 Prohibition on Fantasy Sports Competition Play by Minors.. A. A minor is prohibited from participating in a fantasy sports competition.. B. No person may allow a minor to participate in a fantasy sports competition..
03.11.01.03.htm 03.11.01.03. 03 Restrictions on Fantasy Sports Competition Play by Individuals Associated with Operators.. A. Except as provided in §B of this regulation:. 1) An employee, principal, officer, director, or contractor of a fantasy sports operator, or a member of that individual’s immediate family, is prohibited from participating in a fantasy sports competition offered by any fantasy sports operator; and2) A person may not allow an employee, principal, officer, director, or con
03.11.01.04.htm 03.11.01.04. 04 Prohibition on Fantasy Sports Competition Play by Athletes and Others.. A. An athlete, sports agent, team employee, referee, or league official, or a member of that individual’s immediate family, is prohibited from entering fantasy sports competitions based on underlying sporting events in which the individual is a participant.B. An athlete, sports agent, team employee, referee, or league official, or a member of that individual’s immediate family, may not enter fantasy spor
03.11.01.05.htm 03.11.01.05. 05 Self Exclusion.. A. An individual may request exclusion from entering a fantasy sports competition.. B. If an individual requests exclusion, a fantasy sports operator shall take reasonable measures to prevent that individual from entering a fantasy sports competition.
03.11.01.06.htm 03.11.01.06. 06 Limits on Deposits.. A. Except as provided in §B of this regulation:. 1) A fantasy sports player is prohibited from depositing more than $1,000 in a single calendar month with a fantasy sports operator; and2) No person may allow a fantasy sports player to deposit more than $1,000 in a single calendar month with a fantasy sports operator.B. Exception. A fantasy sports player may request a fantasy sports operator to temporarily or permanently increase a deposit
03.11.01.07.htm 03.11.01.07. 07 Prohibition on Extensions of Credit.. A. A fantasy sports player is prohibited from being extended credit from a fantasy sports operator for purposes of participating in a fantasy sports competition.B. No fantasy sports operator may extend credit to a fantasy sports player for purposes of participating in a fantasy sports competition.
03.11.01.08.htm 03.11.01.08. 08 Prohibition on Fantasy Sports Competitions Based on Amateur Sports.. A. A fantasy sports player may not participate in a fantasy sports competition that includes:. 1) Amateur sporting events;. 2) College sporting events;. 3) High school sporting events; or. 4) Student sporting events.. B. No person may allow a fantasy sports player to participate in a fantasy sports competition that includes:
03.11.01.09.htm 03.11.01.09. 09 Ensuring Skill Based Outcomes in Fantasy Sports Competitions.. A. Fantasy Sports Scripts.. 1) A fantasy sports player may not participate, and no person may allow participation, in fantasy sports competition provided by a fantasy sports operator that permits the use of unauthorized scripts on a fantasy sports competition platform or does not use commercially reasonable efforts to monitor for and prevent use of such scripts.2) A fantasy sports player may not participate, an
03.11.01.10.htm 03.11.01.10. 10 Financial Account Protections.. A. A fantasy sports player may not be permitted to participate in a fantasy sports competition provided by a fantasy sports operator unless the fantasy sports operator creates segregated accounts separating player funds from operational funds and maintains a reserve in the form of cash, cash equivalents, an irrevocable letter of credit, a bond, or a combination thereof in an amount sufficient to pay all prizes offered to winning fantasy sports pl
03.11.01.11.htm 03.11.01.11. 11 Notification.. A. A fantasy sports player may not be permitted to participate in a fantasy sports competition unless the fantasy sports operator offering services in connection with a fantasy sports competition in Maryland has notified the agency prior to offering any fantasy sports competition that the fantasy sports operator is qualified to do business in the State.B. The notification to the Agency shall include:.
03.11.01.12.htm 03.11.01.12. 12 Financial Auditing.. A. A fantasy sports player may not be permitted to participate in a fantasy sports competition provided by a fantasy sports operator unless the fantasy sports operator contracts annually with a certified public accountant to perform a financial audit that:1) Complies with generally accepted accounting principles; and. 2) Is submitted to the agency.. B. The financial audit does not preclude any State or federal agency from conducting an audit of a f
03.11.01.13.htm 03.11.01.13. 13 Tax Laws and Disclosures.. A. A fantasy sports operator shall comply with all applicable tax laws and regulations.. B. A fantasy sports operator shall disclose potential tax liabilities to fantasy sports players before the fantasy sports competition begins and again at the time of award of any prize in excess of $600.
03.11.01.14.htm 03.11.01.14. 14 Advertising.. A. Fantasy sports operator advertisements may not depict:. 1) Minors, except professional athletes who may be minors;. 2) Students;. 3) Schools or colleges; or. 4) School or college settings.. B. Incidental depiction of nonfeatured minors will not be a violation of §A of this regulation..
03.11.01.9999.htm 03.11.01.9999. Administrative History Effective date: January 2, 2017 (43:26 Md. R. 1443).
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