Section 1101 - DefinitionsAs used in this chapter, unless the context otherwise indicates, the following terms have the following meanings. [2017, c. 303, §2(NEW).]
1.Beginner fantasy contestant. "Beginner fantasy contestant" means an individual who has entered fewer than 51 fantasy contests offered by a single fantasy contest operator. [2017, c. 303, §2(NEW).]
2.Director. "Director" means the director of the Gambling Control Unit within the Department of Public Safety. [2017, c. 303, §2(NEW).]
3.Entry fee. "Entry fee" means cash or a cash equivalent that is required to be paid by a fantasy contestant to a fantasy contest operator in order to participate in a fantasy contest. [2017, c. 303, §2(NEW).]
4.Fantasy contest. "Fantasy contest" means a simulated game or contest in which: A. One or more fantasy contestants pay an entry fee to participate; [2017, c. 303, §2(NEW).]B. Fantasy contestants compete against each other by using their knowledge and understanding of sports events and persons engaged in those sports events to select and manage a simulated team roster whose performance directly corresponds with the actual performance of human competitors on sports teams and in sports events; and [2017, c. 303, §2(NEW).]C. The outcome of the game or contest reflects the relative knowledge and skill of the contestants and does not depend on the performance of any one participant in a sports event or the outcome of any one sports event but is determined predominantly by accumulated statistical results of the performance of individual competitors on sports teams and in sports events. [2017, c. 303, §2(NEW).] [2017, c. 303, §2(NEW).]
5.Fantasy contestant. "Fantasy contestant" means an individual who participates in a fantasy contest offered by a fantasy contest operator. [2017, c. 303, §2(NEW).]
6.Fantasy contest operator. "Fantasy contest operator" means a person that offers a platform for the playing of fantasy contests and that administers a fantasy contest for which a prize of value is awarded. [2017, c. 303, §2(NEW).]
7.Gross fantasy contest revenues. "Gross fantasy contest revenues" means the amount determined by subtracting the total of all sums paid out by a fantasy contest operator as cash prizes to all fantasy contestants from the total of all entry fees that the fantasy contest operator collects from all fantasy contestants and multiplying the result by the resident percentage. Sums paid out as prizes may not include the cash equivalent of any merchandise or something of value awarded as a prize. [2017, c. 303, §2(NEW).]
8.Highly experienced fantasy contestant. "Highly experienced fantasy contestant" means a fantasy contestant who has:A. Entered more than 1,000 fantasy contests operated by a single fantasy contest operator; or [2017, c. 303, §2(NEW).]B. Won more than 3 prizes of $1,000 or more each from a single fantasy contest operator. [2017, c. 303, §2(NEW).] [2017, c. 303, §2(NEW).]
9.Platform. "Platform" means an online or electronic method by which access to a fantasy contest is provided, including, but not limited to, a website, personal digital device, such as a device commonly known as a smartphone, or other application providing access to a fantasy contest. [2017, c. 303, §2(NEW).]
10.Resident percentage. "Resident percentage" means, for each fantasy contest, the percentage, rounded to the nearest tenth of a percent, obtained by dividing the total amount of entry fees collected from fantasy contestants located in the State by the total amount of entry fees collected from all fantasy contestants. [2017, c. 303, §2(NEW).]
Added by 2017, c. 303,§ 2, eff. 11/1/2017.