Bill > S08153

This bill establishes a regulatory framework for interactive fantasy sports contests in New York, defining them as games of skill where participants select simulated rosters based on their knowledge of athletic events and athletes, and clarifying that these contests are not considered gambling. The bill mandates that operators of these contests must register with the New York State Gaming Commission (the "commission"), which will review and approve each platform and contest type. Registrants must implement safeguards such as limiting players to one account, prohibiting minors and "prohibited players" (defined as individuals with access to confidential information, athletes, or those in states where contests are banned) from participating, and ensuring clear advertising regarding winning chances. The bill also requires operators to protect player funds, offer self-exclusion options, and clearly identify "highly experienced players" to promote fair play. Furthermore, registrants will be subject to a 15% tax on their interactive fantasy sports gross revenue (defined as entry fees minus winnings, adjusted for New York players) and will pay additional regulatory costs. The commission is empowered to investigate violations, approve or deny registrations, and enforce the article's provisions, with all collected taxes and penalties going into the state lottery fund.