Signed by Governor Terry McAuliffe

Vote Smart's Synopsis:

Vote to pass a bill that establishes regulations for daily fantasy sports.

Highlights:

• Requires a fantasy sports operator to pay an annual fee of $50,000 to register with the Department of Agriculture and Consumer Services in order to offer a “fantasy contest” (Sec. 1).

• Defines “fantasy contest” as any online simulated game with an entry fee with the following regulations (Sec. 1):
• The value of winning prizes are established before the contest;
• The winning outcome reflects the relative knowledge and skill of participants; and
• The winning outcome is not based on the single performance of a team or player.

• Requires a fantasy sports operator to submit certain evidence as a condition of registration, including, but not limited to, evidence of the following procedures (Sec. 1):
• A procedure to verify that players are at least 18 years old;
• A procedure to separate player funds from operational funds;
• A procedure to authorize individuals to restrict themselves from entering a contest; and
• A procedure to prevent employees and relatives from competing in contests.

• Establishes a civil penalty of $1,000 for a violation of the provisions of this bill (Sec. 1).

Full Bill Text