SB529 SFA Romano 2-17 #1
Senator Romano moved to amend the bill by striking out everything after the enacting section and inserting in lieu thereof the following:
ARTICLE 28. FANTASY GAMES.
(a) “Fantasy game” means a fantasy or simulation sports game or educational game or contest that meets the following conditions:
(1) The value of all prizes and awards offered to winning participants is established and made known to the participants in advance of the fantasy game.
(2) All winning outcomes reflect the relative knowledge and skill of participants and are determined predominantly by accumulated statistical results of the performance of individuals, including athletes in the case of sporting events.
(3) A winning outcome is not based on the score, point spread or performance of a single team or combination of such teams, or on any single performance of an individual athlete or player in a single event.
(b) “Fantasy game operator” means a person, as defined in section one, article nine, of this chapter, that offers fantasy games for a cash prize to more than 10,000 members of the public.
§47-28-2. Fantasy games authorized.
(a) Nothing in this code shall be deemed to prohibit the offering of or participation in fantasy games as defined in this article.
(b) Nothing in this code or in any regulation, rule, ordinance or other law shall be deemed or construed to provide or impose criminal penalties or sanctions of any kind for offering or participating in fantasy games as defined in this article.
(c) A fantasy game operator offering fantasy games to residents of this state shall register annually with the West Virginia Attorney General and pay an initial registration fee of $250,000 and an annual renewal fee of $25,000 to be placed into the Consumer Protection Recovery Fund (Fund 1509). The Attorney General shall endeavor to protect all rights of West Virginians who participate in fantasy games and shall propose rules for legislative approval in accordance with the provisions of article three, chapter twenty-nine-a of this code in order to implement the provisions of this article to protect West Virginia consumers and regulate fantasy game operators. The registration fees required by this section shall be used for the purposes of the protection of West Virginia consumers, including but not limited to, consumers of fantasy games.