R 432.536 Fantasy contest rules or terms.

Rule 536. (1) A fantasy contest operator or licensed management company must establish clear and conspicuous rules or terms for each fantasy contest it offers. The rules or terms must address all of the following, at a minimum: (a) Unique identification number or other identifier of the fantasy contest. (b) Entry fee amount. (c) Rules and terms regarding fantasy contest team selection, including, but not limited to, all of the following: (i) The athletic events on which the fantasy contest is based and from which a fantasy contest player may select individual athletes. (ii) The number of athletes a fantasy contest player must select to form the fantasy contest team. (iii) Any requirements or restrictions regarding the type, position, or other characteristics of the athletes a fantasy contest player must select. (iv) Any other information a fantasy contest player may need to assemble a fantasy contest team. (d) An explanation of how winning outcomes reflecting the relative knowledge and skill of fantasy contest players are determined, including, but not limited to, all of the following: (i) A description of the statistical results of the performance of multiple individual athletes that will determine the outcome of the fantasy contest. (ii) An explanation of how the statistical results will be aggregated. (iii) An explanation of how the statistical results correspond with the actual performance of the athletes in the athletic events in which they will participate. (e) Prize or award amounts, which must be made known to fantasy contest players in advance of the fantasy contest, and a description of the process for calculating and paying prizes or awards, including non-cash or non-cash equivalent prizes or awards. Prizes or awards stipulated in the rules or terms must be available and must be demonstrated on request of the board. (f) The maximum number of entries each fantasy contest player may submit as required under R 432.532(3). (g) Any other restrictions regarding the minimum or maximum number of fantasy contest entries that may be submitted by a single fantasy contest player or all fantasy contest players in the fantasy contest. (h) The date and time the fantasy contest will begin. (i) The date and time the fantasy contest is expected to be settled or a general statement explaining that the fantasy contest will be settled following the completion of all athletic events on which the fantasy contest is based. (j) An explanation of when the fantasy contest locks and when no further fantasy contest entries, substitutions, or modifications can be made. (k) What is to occur when any athletic event or component of an athletic event on which the fantasy contest is based is canceled, rescheduled, suspended, or shortened. (l) A description of the process for handling incorrectly posted fantasy contests or fantasy contest results. (m) A policy by which the fantasy contest operator or licensed management company can cancel a fantasy contest due to an obvious error in the setup or parameters of the fantasy contest, which must include a definition and procedures for obvious errors. (n) How entry fees will be returned to fantasy contest players in the event a fantasy contest is cancelled after entry fees have been paid and what is to occur if any entry fees cannot be returned to a fantasy contest player. (o) A description of persons who are prohibited or restricted from entering or participating in the fantasy contest in accordance with the act and these rules. (p) Any other rules or terms required by the board. (2) The rules or terms for each fantasy contest must be clearly and conspicuously displayed on the fantasy contest operator’s or licensed management company’s fantasy contest platform in a manner that enables a fantasy contest player to read the rules or terms for a fantasy contest before the fantasy contest player pays an entry fee or otherwise enters or commences participation in the fantasy contest. (3) A fantasy contest operator or licensed management company must enforce and comply with the rules or terms applicable to each fantasy contest. (4) A fantasy contest operator or licensed management company must not alter the rules or terms established for a fantasy contest after any fantasy contest player has entered or commenced participation in the fantasy contest. (5) A fantasy contest operator or licensed management company must maintain copies of the rules or terms applicable to each fantasy contest for a minimum of 3 years following completion of the fantasy contest. The fantasy contest operator or licensed management company must provide the rules or terms to the board on request.