Maine Revised Statutes Title 8 Sec. 1105 – Operation of fantasy contests; allocation of funds
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1. Operation of fantasy contests. A fantasy contest operator licensed under this chapter shall:
A. Disclose the number of entries that a fantasy contestant may submit to each fantasy contest and provide reasonable steps to prevent fantasy contestants from submitting more than the allowable number; [PL 2017, c. 303, §2 (NEW).]
B. Prohibit fantasy contestants from submitting more than one entry in any fantasy contest involving 12 entries or fewer; [PL 2017, c. 303, §2 (NEW).]
C. Prohibit fantasy contestants from submitting more than 2 entries in any fantasy contest involving more than 12 entries but fewer than 36 entries; [PL 2017, c. 303, §2 (NEW).]
D. Prohibit fantasy contestants from submitting more than 3 entries in any fantasy contest involving 36 or more entries but fewer than 101 entries; [PL 2017, c. 303, §2 (NEW).]
E. Prohibit, unless otherwise provided by this chapter, fantasy contestants from submitting more than 3% of all entries in any fantasy contest involving more than 100 entries; [PL 2017, c. 303, §2 (NEW).]
F. Permit unlimited entries in no more than 3% of all fantasy contests; the entry fee for such contests must be a minimum of $150; and [PL 2017, c. 303, §2 (NEW).]
G. Inform fantasy contestants of state and federal tax obligations on certain winnings. [PL 2017, c. 303, §2 (NEW).]
[PL 2017, c. 303, §2 (NEW).]
Terms Used In Maine Revised Statutes Title 8 Sec. 1105
- Director: means the director of the Gambling Control Unit within the Department of Public Safety. See Maine Revised Statutes Title 8 Sec. 1101
- Entry fee: means cash or a cash equivalent that is required to be paid by a fantasy contestant to a fantasy contest operator in order to participate in a fantasy contest. See Maine Revised Statutes Title 8 Sec. 1101
- Fantasy contest: means a simulated game or contest in which:
A. See Maine Revised Statutes Title 8 Sec. 1101Fantasy contest operator: means a person that offers a platform for the playing of fantasy contests and that administers a fantasy contest for which a prize of value is awarded. See Maine Revised Statutes Title 8 Sec. 1101 Fantasy contestant: means an individual who participates in a fantasy contest offered by a fantasy contest operator. See Maine Revised Statutes Title 8 Sec. 1101 Gross fantasy contest revenues: means the amount determined by subtracting the total of all sums paid out by a fantasy contest operator as cash prizes to all fantasy contestants from the total of all entry fees that the fantasy contest operator collects from all fantasy contestants and multiplying the result by the resident percentage. See Maine Revised Statutes Title 8 Sec. 1101
2. Allocation of funds. The director shall collect for deposit to the General Fund 10% of gross fantasy contest revenues, including any revenues earned while operating pending approval of an application submitted to the director as described in section 1103, subsection 9, from a fantasy contest operator licensed under this chapter that has gross fantasy contest revenues of $100,000 or greater.
[PL 2017, c. 303, §2 (NEW).]
SECTION HISTORY
PL 2017, c. 303, §2 (NEW).