SS SCS HCS HB 1941, 2016 (New Section - Proposed Language)
313.930. 1. In order to ensure the protection of registered players, an authorized internet website shall identify the person or entity that is the licensed operator.
2. A licensed operator shall ensure that fantasy sports contests on its authorized internet website comply with all of the following:
(1) All winning outcomes are determined by accumulated statistical results of fully completed contests or events, and not merely any portion thereof, except that fantasy participants may be credited for statistical results accumulated in a suspended or shortened contest or event which has been called on account of weather or other natural or unforeseen event;
(2) A licensed operator shall not allow registered players to select athletes through an auto-draft that does not involve any input or control by a registered player, or to choose pre-selected teams of athletes;
(3) A licensed operator shall not offer or award a prize to the winner of, or athletes in, the underlying competition itself; and
(4) A licensed operator shall not offer fantasy sports contests based on the performances of participants in collegiate, high school, or youth athletics.
3. A licensed operator shall have procedures approved by the commission before operating in Missouri that:
(1) Prevents unauthorized withdrawals from a registered player's account by the licensed operator or others;
(2) Makes clear that funds in a registered player's account are not the property of the licensed operator and are not available to the licensed operator's creditors;
(3) Segregate player funds from operational funds;
(4) Maintain a reserve in the form of cash or cash equivalents in the amount of the deposits made to the accounts of fantasy sports contest players for the benefit and protection of the funds held in such accounts;
(5) Ensures any prize won by a registered player from participating in a fantasy sports contest is deposited into the registered player's account within 48 hours of winning the prize;
(6) Ensures registered players can withdraw the funds maintained in their individual accounts, whether such accounts are open or closed, within five business days of the request being made, unless the licensed operator believes in good faith that the registered player engaged in either fraudulent conduct or other conduct that would put the licensed operator in violation of sections 313.900 to 313.1020, in which case the licensed operator may decline to honor the request for withdrawal for a reasonable investigatory period until its investigation is resolved if it provides notice of the nature of the investigation to the registered player. For the purposes of this provision, a request for withdrawal will be considered honored if it is processed by the licensed operator but delayed by a payment processor, credit card issuer or by the custodian of a financial account;
(7) Allows a registered player to permanently close their account at any time for any reason; and
(8) Offers registered players access to their play history and account details.
4. A licensed operator shall establish procedures for a registered player to report complaints to the licensed operator regarding whether his or her account has been misallocated, compromised, or otherwise mishandled, and a procedure for the licensed operator to respond to those complaints.
5. A registered player who believes his or her account has been misallocated, compromised, or otherwise mishandled should notify the commission. Upon notification, the commission may investigate the claim and may take any action the commission deems appropriate under subdivision (4) of section 313.1010.
6. A licensed operator shall not issue credit to a registered player.
7. A licensed operator shall not allow a registered player to establish more than one account or user name on its authorized internet website.