Signed by Governor John Bel Edwards

Vote Smart's Synopsis:

Vote to concur with senate amendments and pass a bill that establishes regulations for fantasy sports gambling.

Highlights:

• Authorizes the Gaming Control Board to establish rules surrounding fantasy sports contests as follows, including, but not limited to (Sec. 1):

• The issuance of any license, contract, or permit subject to regulation;

• The methods, forms, or procedures for making an application for a license, contract, or permit;

• The methods and forms for providing to the board information concerning a person’s family, habits, character, associates, criminal record, business activities, and financial affairs; and

• Enforcement of the gaming laws administered by the board and the rules of the board, including imposition and collection of fines, penalties, and other sanctions.

• Requires the board to institute rulemaking procedures as necessary for fantasy sports contests, beginning August 1, 2020 (Sec. 1).

• Requires any monetary fine collected by the board to be submitted to the state treasury for deposit into the general fund (Sec. 1).

• Requires any rule on fantasy sports contests proposed by the state police and the attorney general to be submitted to the board for approval (Sec. 1).

• Prohibits any fantasy sports contest operator from offering any fantasy sports contest in this state without first being licensed by the board (Sec. 1).

• Establishes the fantasy sports contest licensing fee as follows (Sec. 1):

• If the 3 year average of fantasy sports contest revenue is less than $100,000, a fee of $5,000;

• If the 3 year average of fantasy sports contest revenue is greater than $100,000 but less than $300,000, a fee of $15,000; and

• If the 3 year average of fantasy sports contest revenue is greater than $300,000, the fee shall be $40,000.

• Specifies that the license renewal fee will be assessed in the same manner that the aforementioned fees have been paid (Sec. 1).

• Specifies that any fantasy sports contest operator who allowed their license to lapse, without requesting an extension, will be required to resubmit an initial application for licensure (Sec. 1).

• Specifies that a license issued by the board will not be transferable (Sec. 1).

• Defines “fantasy contest operator” or “operator” as an individual with a domestic business or foreign corporation that is licensed to offer a platform for the playing of fantasy sports contests to administer one or more fantasy sports contests with an entry fee (Sec. 1).

• Defines “net revenue” as the amount equal to the total entry fees for all fantasy sports contests collected from al participants entering into such fantasy sports contests (Sec. 1).

• Defines “entry fee” as cash or cash equivalent that is required to be paid by a fantasy sports contest participant to a fantasy sports contest operator (Sec. 1).

Full Bill Text