Fantasy sports is an obsession for many Floridians, and a bill with some momentum in the Senate would put guardrails on that business to "ensure public confidence in the integrity of fantasy sports contests and contest operators."
Sen. Travis Hutson's measure (SB 1568) would allow anyone old enough to drink legally to participate in commercial fantasy sports legally, but with caveats.
In addition to barring those under the age of 21 from the contests of "skill," the Fantasy Sports Contest Amusement Act would require all entry fees to be paid out as prizes at the end of seasons, and would also cap prize monies at $1,500 per season or $10,000 annually.
That prize money would be kept in an escrow account to formalize the structure, and leagues would be required to conduct yearly forensic audits.
The Hutson bill would require commercial fantasy sports operators to be licensed by the Florida Gaming Control Commission, with fees ($1 million for initial licensing and $250,000 for renewal) attached via separate legislation (SB 1566).
The bill would handcuff those operators from contests based on gambling lines, point spreads or individual stats. As bettors know, these are business lines dominated by bookies, and this legislation would protect those for established gambling concerns.
The Commission would be empowered to investigate league business, including forensic accounting of the league commissioner's books, if violations were alleged. The sanctioning body could also shut down unlicensed operators at its discretion.
The Commission envisions a need for more full-time equivalents if this legislation becomes law. Additionally, given the bill's background check requirement, the same could hold true for the Florida Department of Law Enforcement.
Operators and their relatives couldn't participate in commercial contests. The same holds true for referees and participants in the games that the fantasy league would be based on. Players would be limited in how many entries in a given contest they might have.
No comments:
Post a Comment