Bill > LB342

This bill establishes the Fantasy Sports Consumer Protection Act, which creates a comprehensive regulatory framework for fantasy sports contests in Nebraska. The legislation defines fantasy contests as online skill-based games where participants assemble fictional rosters of athletes and compete for prizes based on their statistical performance, with specific rules to ensure the contests are games of skill rather than chance. The bill requires fantasy contest operators to obtain a license from the Department of Revenue, submit to background checks, and pay an initial license fee and ongoing taxes. Operators must implement robust consumer protection measures, including age verification, geolocation tracking to ensure participants are in-state, and mechanisms to prevent fraud and problem gambling. Participants must be at least 18 years old, and the bill establishes a voluntary self-exclusion program for individuals struggling with compulsive gaming. Large fantasy contest operators will also be required to submit reports on their procurement goals for businesses owned by women, minorities, veterans, indigenous persons, and persons with disabilities. The law imposes a 10% tax on adjusted gross fantasy contest receipts, with 85% going to the General Fund and 15% to the Compulsive Gamblers Assistance Fund. Violations can result in civil penalties up to $1,000 per violation, not exceeding $10,000 for related occurrences. The bill aims to provide a legal and regulated environment for fantasy sports while protecting consumers and ensuring fair play.

Government Affairs

https://nebraskalegislature.gov/bills/view_bill.php?DocumentID=59099