Chapter 04. Financial Standards

In a segregated account that separates player funds from the operator’s operational funds; or

In a special-purpose, segregated account that is maintained and controlled by a properly constituted corporate entity that:

Procedures for considering a request from a fantasy competition player to increase a deposit level include evaluation of information, including evidence of income or assets, sufficient to confirm the financial ability of a player to afford losses which may result from fantasy competition play at the deposit level requested by the player; and

After the operator approves a player’s temporary or permanent deposit level increase, the player undergoes an annual evaluation by the operator of information sufficient to confirm the continued financial ability of the player to afford losses that may result from fantasy competition play at the increased deposit level.

Comply with generally accepted accounting principles; and

Submit the financial audit report to the Commission within 180 days after the operator’s fiscal year end.

The same certified public accountant may not perform more than five consecutive financial audits for a fantasy competition operator unless:

If a different audit partner cannot be assigned, a fantasy competition operator shall advise the Agency prior to the beginning of the audit.

No later than the 15th day of the month that follow the end of each quarter;

For the tax return, by email as designated by the Commission; and

For the tax, by wire transfer.

Before a fantasy competition begins; and

When a player receives winnings in excess of $600.