2016 Mississippi Code
Title 97 - Crimes
Chapter 33 - Gambling and Lotteries
Fantasy Contest Act (§§ 97-33-301 - 97-33-315)
§ 97-33-305. Procedures to be implemented by fantasy contest operator; annual third-party independent audit to insure compliance with section [Repealed effective July 1, 2017]

(1) Fantasy contests with an entry fee are legal in this state. A fantasy contest operator must comply with the provisions of this section.

(2) A fantasy contest operator must implement procedures for fantasy contests with an entry fee to:

(a) Prevent employees of the fantasy contest operator, and relatives living in the same household with an employee, from competing in public fantasy contests offered by a fantasy contest operator in which the operator offers a cash prize;

(b) Prevent sharing with third parties of confidential information that could affect the fantasy contest play until the information is made publicly available;

(c) Prevent the fantasy contest operator from participating in a fantasy contest he or she offers;

(d) Verify that a fantasy contest player in a fantasy contest is eighteen (18) years of age or older;

(e) Ensure that individuals who participate or officiate in a game or contest that is the subject of a fantasy contest will be restricted from entering a fantasy contest that is determined, in whole or in part, on the accumulated statistical results of a team of individuals in a fantasy contest in which he or she is a player;

(f) Allow individuals to restrict themselves from entering a fantasy contest upon request and provide reasonable steps to prevent the person from entering fantasy contests offered by the operator;

(g) Disclose the number of entries that a fantasy contest player may submit to each fantasy contest and provide reasonable steps to prevent players from submitting more than the allowable number; and

(h) Segregate fantasy contest player funds from operational funds and maintain a reserve in the form of cash, cash equivalents, an irrevocable letter of credit, a bond, or a combination thereof, in the amount of the deposits made to the accounts of fantasy contest players for the benefit and protection of the funds held in the accounts.

(3) The statistical results and performance of individuals used to determine a player's outcome are restricted to only professional athletes and professional athletic events.

(4) A fantasy contest operator offering fantasy contests with an entry fee in this state must contract with a third party to annually perform an independent audit to ensure compliance with this section, and must submit the results of the audit to the office.