HB 3481
Protecting sports fans who participate in real-money fantasy sports, skill-based contests to ensure that operators of these contests meet appropriate compliance and financial standards in order to be suitable for licensure and operation within the state.
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Sign in to take action- Introduced
- Passed House of Delegates
- Passed Senate
- To Governor
- Became Law
Bill overview
This bill establishes a framework for regulating and taxing daily fantasy sports contests in West Virginia. It aims to ensure that operators meet compliance and financial standards, obtain necessary licenses, and adhere to specific rules regarding contest structure and participant age. The bill creates a dedicated fund for revenue generated from these contests, which will be used to cover administrative costs, stabilize the state’s public employee insurance program, and support problem gaming assistance programs. It also includes provisions for independent audits and reporting of prohibited conduct.
Key provisions
- Establishes a licensing system for daily fantasy sports contest operators.
- Requires operators to meet specific compliance and financial standards.
- Creates a dedicated fund to collect and distribute revenue from daily fantasy sports contests.
- Authorizes the West Virginia Lottery Commission to regulate the industry and levy taxes.
- Mandates independent audits of daily fantasy sports contest operators.
- Requires operators to provide assistance to individuals struggling with problem gaming.
- Establishes a voluntary self-exclusion program for participants.
- Defines key terms related to daily fantasy sports contests.
Who is affected
- Daily Fantasy Sports Contest Operators
- Participants in Daily Fantasy Sports Contests
- The West Virginia Lottery Commission
- West Virginia Residents
- The State Treasury
Notable changes
Sponsors
Official sponsors from legislative records.
Primary sponsor
J. Cannon
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