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Bill > SB646
VA SB646
VA SB646Fantasy Contests Act; created, registration required, conditions of registration, civil penalty.
summary
Introduced
01/18/2016
01/18/2016
In Committee
02/18/2016
02/18/2016
Crossed Over
02/22/2016
02/22/2016
Passed
02/25/2016
02/25/2016
Dead
Signed/Enacted/Adopted
03/07/2016
03/07/2016
Introduced Session
2016 Regular Session
Bill Summary
Fantasy Contests Act; registration required; conditions of registration; civil penalty. Creates the Fantasy Contests Act (the Act), which applies to fantasy contests with an entry fee offered in Virginia. The bill defines "fantasy contest" as any online fantasy or simulated game or contest in which (i) the value of all prizes and awards offered to winning participants is established and made known to the participants in advance of the contest; (ii) all winning outcomes reflect the relative knowledge and skill of the participants and are determined predominantly by accumulated statistical results of the performance of individuals, including athletes in the case of sports events; and (iii) no winning outcome is based on the score, the point spread, or any performance of any single actual team or combination of teams or solely on any single performance of an individual athlete or player in any single actual event. The bill requires a fantasy contest operator, as a condition for registration, to establish procedures that include ensuring that players who are the subject of a fantasy contest are restricted from entering a fantasy contest that is determined, in whole or part, on the accumulated statistical results of a team of individuals in which such players are participants. The bill requires operators of fantasy contests to register annually with the Department of Agriculture and Consumer Services and to contract with a testing laboratory to verify the procedures for fantasy contests. The bill sets forth penalties for violation of the Act. The bill provides that fantasy contests conducted in accordance with these measures are not illegal gambling.
AI Summary
This bill, titled the Fantasy Contests Act, establishes regulations for fantasy contests in Virginia that involve an entry fee, defining them as simulated games where prizes are predetermined, outcomes depend on participant skill and statistical results of individuals (like athletes), and are not based on specific team scores or single player performances in a single event. Operators of these fantasy contests must register annually with the Department of Agriculture and Consumer Services, paying an initial fee of $50,000, and must implement procedures to prevent employees and their household members from competing, protect confidential information, verify players are 18 or older, restrict players from contests involving teams they are part of, allow self-exclusion, limit multiple entries per player, and segregate player funds. Operators are also required to undergo annual independent audits and have their procedures verified by a testing laboratory, with the results submitted to the Department. The bill clarifies that fantasy contests conducted under these regulations are not considered illegal gambling, and violations can result in suspension or revocation of registration and civil penalties of up to $1,000 per violation, not exceeding $50,000, with funds collected used to administer the Act.
Committee Categories
Budget and Finance, Business and Industry, Justice
Sponsors (1)
Last Action
Governor: Acts of Assembly Chapter text (CHAP0318) (on 03/07/2016)
Official Document
bill text
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