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Massachusetts Attorney General Proposes Daily Fantasy Sports Regulations

Thursday November 19,2015 : MASSACHUSETTS AG PROPOSES DFS REGULATIONS

Filed with the Secretary of State’s office Friday.

Massachusetts State Attorney General, Maura Healey, has proposed comprehensive “first-of-their-kind” consumer protection regulations for the new and rapidly evolving daily fantasy sports (DFS) industry which will be filed with the Secretary of State’s office Friday.

The draft regulations set forth a number of requirements for all DFS operators with players in Massachusetts to adhere to in order stay in compliance with state consumer protection laws and were drafted following numerous consultations with daily fantasy sports companies and other interested parties.

Regulations proposed include:

-    21 and over age limit.

-    No promotion or advertising at schools or on college campuses.

-    No advertising or promotional activities at amateur, school or college sporting venues.

-    No contests based on the performance of college or high school athletes.

-    Advertisements cannot portray minors or market endorsements from colleges or college athletes.

-    Professional athletes, agents, employees or others connected to a particular sport will not be allowed to enter DFS contests in their sport.

-    Company employees and others with access to insider information will not be allowed to participate in DFS contests.

-     Less than 2% of all players win 90% of all prizes. These professional and other highly-experienced players will be easily identifiable to other players.
-    Games limited to beginners will exclude experienced players from participating.

-    Advertisements must include information on available assistance to problem gamblers or direct consumers to a reputable source.

-    Advertisements mentioning average individual winnings must also disclose average net winnings of all players.

-    Deposits limited to no more than $1,000 each month, unless the DFS operator obtains verification from the player that establishes the player’s ability to sustain losses at a higher limit.

-    Operators must provide options for players to exclude themselves from all contests, set self-imposed deposit or loss limits, or limit the amount of contest entered per week.

-    DFS companies cannot extend credit to players.

The draft regulations also detail entry limits, reinforce the obligation to comply with tax laws and to disclose tax liabilities for players, provide protection from unauthorised withdrawals, and layout a complaint procedure for consumers.

Violations of any of these regulations will be actionable under the state’s consumer protection laws.

"These regulations are a first of their kind for the daily fantasy sports industry, and they focus on protecting minors, ensuring truthful advertising, bringing more transparency to the industry, and leveling the playing field for all consumers," AG Healey said. "This is a first step, but an important step, as we continue to evaluate this new industry and make sure our laws keep up with these evolving technologies."

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Malta Gaming Authority's half-year 2016 report - There are 490 gaming license in issue and 257 gaming companies in operation....in the first six months of 2014, those figures were 414 and 271 respectively;

Macau ATM Transaction Limit Lowered - The Monetary Authority of Macau moved quickly Friday to quell market concern caused by a newspaper report late Thursday that it was about to slash ATM limits in half .

Vegas Mobile Casino Gets Live Dealer Games - Vegas Mobile Casino has partnered with Swedish online gambling game developer NetEnt, which has supplied a new live dealer offering that includes desktop Blackjack and desktop and mobile Roulette.

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Playtech Live launches dedicated live roulette room - Playtech's live dealer arm, Playtech Live has launched a dedicated live roulette room operating from a fully custom-built studio bursting with colorful Christmas decorations.

Australian Open To Dunp Gambling Ads - Court-side advertisements, which have been criticized as promoting gambling and thereby contributing indirectly to the specter of match-fixing, are to be discontinued in 2017 from the Australian Open tennis championships, Tennis Australia has confirmed.

Olympique Lyonnais In Sponsorship Deal With FDJ - The agreement allows FDJ to introduce its ParionsSport betting terminals in the Parc OL stadium, and the promotion by the club of its website of the same name

BaFin CrackDown on Spread Betting - The UK Financial Conduct Authority's crackdown on financial and stocks spread betting via contracts for difference has been followed by similar moves in Germany, where the financial regulator BaFin announced similar new restrictions Thursday.

How is the CDC Group Spending its Money - Questions are being asked about how the UK government's private equity arm, the CDC Group plc (formerly the Commonwealth Development Corporation) spends the billions it is allocated to alleviate international poverty, The Guardian newspaper reported Friday.

Voodoo Slot Released - The Prague-based online gambling games developer Endorphina is going against the trend of Christmassy-themed offerings at this time of the year, instead going for the popular horror genre in its new slot Voodoo, released to operators today (Friday).

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