As used in this part, a "fantasy sports league" means a gambling activity conducted in the following manner:
- (1) A fantasy sports league consists of a limited number of persons or groups of persons who pay an entrance fee for membership in the league. The entrance fee may include an administrative fee.
- (2) Each league member creates a fictitious team composed of athletes from a given professional sport, such as baseball, basketball, or football. Player selection is conducted through random drawings, a bidding process, or by selection from a roster prepared by the parimutuel network coordinator.
- (3) Except for fantasy sports leagues operated under Title 23, chapter 4, after the initial teams are selected, interim replacement of players may occur by trade or purchase. A specific fee, which may not exceed the total entrance fee, is charged for each transaction.
- (4) A method, as defined by league rules, is devised to permit each team to compete against other teams in the league. Points are awarded to a team according to the performance of individual players or teams or both during a designated time period.
- (5) A league member may be eligible to receive a payout based on the number of points accumulated. Payouts, which may be in the form of cash or prizes, are awarded according to league rules.
- (6) The roster of eligible participants prepared by the parimutuel network must be provided to each league member.
- (7) Rules governing the conduct of the fantasy sports league must be provided in writing to each league member.
History: En. Sec. 21, Ch. 647, L. 1991; amd. Sec. 8, Ch. 387, L. 2007.