4-33-24-20. Prizes
Sec. 20. Any prize awarded in a paid fantasy sports game must be made known before the fantasy game begins. The value of a prize awarded in the paid fantasy sports game may not be determined by the number of game participants in the paid fantasy sports game or the amount of entry fees paid […]
4-33-24-21. Required Game Operator Procedures
Sec. 21. A game operator shall implement procedures to do the following: (1) Prevent employees of the game operator or a licensee with whom the game operator has entered into a contract under section 14 of this chapter, and any relative of an employee living in the household of the employee, from competing in a […]
4-33-24-22. Game Operator Preventative Measures
Sec. 22. A game operator shall take reasonable steps to do the following: (1) Prevent the participation in paid fantasy sports games of individuals who have restricted themselves from entering paid fantasy sports games. (2) Prevent game participants from entering more than the maximum number of allowed paid fantasy sports games. As added by P.L.212-2016, […]
4-33-24-23. Segregation of Game Participant Funds
Sec. 23. A game operator shall segregate the funds of game participants from the operational funds of the game operator. As added by P.L.212-2016, SEC.2.
4-33-24-24. Financial Reserves
Sec. 24. For the protection of the funds of game participants held in paid fantasy sports game accounts, a game operator shall maintain a reserve in the form of cash, cash equivalents, an irrevocable letter of credit, a bond, or a combination of these sources that is equal to the amount of money deposited in […]
4-33-24-25. Certified Public Accountant Contracts
Sec. 25. A game operator shall contract annually with a certified public accountant to perform a financial audit of the game operator’s paid fantasy sports game operations under this chapter to ensure compliance with this chapter. The game operator shall submit the results of the audit to the division. The same certified public accountant may […]
4-33-24-26. Civil Penalties
Sec. 26. The division may impose a civil penalty upon a game operator, a licensee, or an employee of a game operator or a licensee for a violation of this chapter. The maximum amount of a civil penalty imposed under this section for a particular violation is one thousand dollars ($1,000). The division shall deposit […]
4-33-24-27. Entry Fees and Revenues Received by a Licensee
Sec. 27. Entry fees and other revenues received by a licensee under a contract with a game operator for conducting paid fantasy sports games are not considered to be received from a licensee’s gaming operations and are not subject to: (1) a wagering tax imposed under IC 4-33-13 or IC 4-35-8; (2) the fee imposed […]
4-33-24-28. Fantasy Sports Regulation and Administration Fund
Sec. 28. (a) The fantasy sports regulation and administration fund is established to provide for the administration of this chapter. (b) The fund consists of: (1) any fees and civil penalties deposited in the fund under this chapter; (2) any money appropriated to the fund by the general assembly; and (3) any earnings on amounts […]
4-33-24-29. Delinquent Child Support; Duties Related to Interception of Winnings
Sec. 29. (a) This section applies beginning July 1, 2017. (b) The bureau shall provide information to a game operator or licensee concerning persons who are delinquent in child support. (c) If a permit holder or trustee is required to file Form 1099 or a substantially equivalent form with the United States Internal Revenue Service […]