Michigan Administrative Code › Department - Treasury › Michigan Gaming Control Board › Fantasy Contest Rules › Part 3 - CONDUCT OF FANTASY CONTESTS › Section R. 432.536 - Fantasy contest rules or terms

Current through Vol. 24-12, July 15, 2024
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.