In this subtitle the following words have the meanings indicated. “Commission” has the meaning stated in § 9–1A–01 of this title. “Entry fee” means cash or cash equivalents that a fantasy competition player is required to pay to a fantasy competition operator in order to participate in a fantasy competition. “Fantasy competition” includes any online fantasy or simulated game or contest such as fantasy sports, in which: participants own, manage, or coach imaginary teams; all prizes and awards offered to winning participants are established and made known to participants in advance of the game or contest; the winning outcome of the game or contest reflects the relative skill of the participants and is determined by statistics generated by actual individuals (players or teams in the case of a professional sport); and no winning outcome is based: solely on the performance of an individual athlete; or on the score, point spread, or any performances of any single real–world team or any combination of real–world teams. “Fantasy competition operator” means any person that offers services in connection with fantasy competitions to individuals by means of: the Internet; a smart phone application; or any other electronics, digital media, communication technology, or device. “Fantasy competition operator” includes, for purposes of the federal Bank Secrecy Act of 1970 and its related regulations, a gaming establishment having at least $1,000,000 in annual gross revenue. “Fantasy competition operator” does not include an individual who: organizes a fantasy competition in which the individual also participates; and receives no compensation for organizing the fantasy competition. “Fantasy competition player” means an individual who participates in a fantasy competition offered by a fantasy competition operator. “Location percentage” means, for a fantasy competition, the percentage, rounded to the nearest one–tenth of a percent, of the total entry fees collected by a fantasy competition operator from fantasy competition players in the State divided by the total entry fees collected from all fantasy competition players, regardless of the players’ locations, of the fantasy contests. “Proceeds” means, for a fantasy competition, the amount of entry fees collected by a fantasy competition operator from all fantasy competition players entering the fantasy competition, less winnings paid to fantasy competition players, multiplied by the location percentage.