Source: https://legislature.vermont.gov/statutes/fullchapter/09/116
Timestamp: 2019-12-12 19:24:00
Document Index: 779454053

Matched Legal Cases: ['§ 4185', '§ 5', '§ 4188', '§ 5', '§ 4189', '§ 5', '§ 4189', '§ 5']

Chapter 116: FANTASY SPORTS CONTESTS
§ 4185. Definitions
(1) "Computer script" means a list of commands that can be executed by a program, scripting engine, or similar mechanism that a fantasy sports player can use to automate participation in a fantasy sports contest.
(2) "Confidential fantasy sports contest information" means nonpublic information available to a fantasy sports operator that relates to a fantasy sports player's activity in a fantasy sports contest and that, if disclosed, may give another fantasy sports player an unfair competitive advantage in a fantasy sports contest.
(3) "Fantasy sports contest" means a virtual or simulated sporting event governed by a uniform set of rules adopted by a fantasy sports operator in which:
(A) a fantasy sports player may earn one or more cash prizes or awards, the value of which a fantasy sports operator discloses in advance of the contest;
(B) a fantasy sports player uses his or her knowledge and skill of sports data, performance, and statistics to create and manage a fantasy sports team;
(C) a fantasy sports team earns fantasy points based on the sports performance statistics accrued by individual athletes or teams, or both, in real world sporting events;
(D) the outcome is determined by the number of fantasy points earned; and
(E) the outcome is not determined by the score, the point spread, the performance of one or more teams, or the performance of an individual athlete in a single real world sporting event.
(4) "Fantasy sports operator" means a person that offers to members of the public the opportunity to participate in a fantasy sports contest for consideration.
(5) "Fantasy sports player" means an individual who participates in a fantasy sports contest for consideration.
(6) "Location percentage" mean the percentage, rounded to the nearest tenth of a percent, of the total of all entry fees collected from fantasy sports players located in Vermont, divided by the total entry fees collected from all fantasy sports players in fantasy sports contests.
(7) "Net fantasy sports contest revenues" means the amount equal to the total of all entry fees that a fantasy sports operator collects from all fantasy sports players, less the total of all sums paid out as winnings to all fantasy sports players, multiplied by the location percentage for Vermont. (Added 2017, No. 70, § 5, eff. Jan. 1, 2018.)
§ 4188. Exemption
The provisions of 13 V.S.A. chapter 51, relating to gambling and lotteries, shall not apply to a fantasy sports contest. (Added 2017, No. 70, § 5, eff. Jan. 1, 2018.)
§ 4189. Registration
In addition to applicable requirements under Titles 11-11C for a business organization doing business in this State to register with the Secretary of State, on or before October 15 of each year in which a fantasy sports operator offers a fantasy sports contest to consumers in this State, the operator shall file an annual registration with the Secretary of State on a form adopted for that purpose and pay to the Secretary an annual registration fee in the amount of $5,000.00. (Added 2017, No. 70, § 5, eff. June 8, 2017.)
§ 4189a. Enforcement
(a) A person that violates a provision of this chapter commits an unfair and deceptive act in commerce in violation of section 2453 of this title.
(b) The Attorney General has the authority to adopt rules to implement the provisions of this chapter and to conduct civil investigations, enter into assurances of discontinuance, and bring civil actions as provided under chapter 63, subchapter 1 of this title. (Added 2017, No. 70, § 5, eff. Jan. 1, 2018.)