§ 1205.3. Fantasy contest accounts.
(a) A participant in a fantasy contest by a licensed operator may only enter a fantasy contest if the participant has established an account with the fantasy contest operator.
(b) The licensed operator shall perform all of the following with respect to each participant account:
(1) Verify the age, location and identity of participants in a fantasy contest prior to accepting an entry in a fantasy contest by the participant account holder.
(2) Assure the participant has funds on account sufficient to pay the fantasy contest entry fee at the time of entry.
(3) Require that each time a participant enters his registered fantasy account, he shall enter his unique username and password to verify his identity.
(4) Provide the account holder the option to:
(i) Restrict the participant from entering a fantasy contest or accessing a fantasy contest account for a specific period of time as determined by the account holder.
(ii) Restrict the total amount of deposits that the participant may pay to the licensed operator for a specific time period established by the participant.
(iii) Restrict the total amount of entry fees that the participant may pay to the licensed operator for a specific time period established by the participant.
(iv) Restrict the number of fantasy contests the participant may enter for a specific time period as determined by the account holder.
(v) With respect to subparagraphs (i)(iv), a participant may make his limits more restrictive at any time but may not make a limit less restrictive within 90 days of imposing a restriction.
(5) Prevent unauthorized withdrawals from a fantasy contest account.
(6) Establish protocols for participants to withdraw funds whether the account is open or closed.
(7) Establish procedures for closing accounts and paying balances.
(8) Establish procedures for the disbursement of unclaimed prizes.
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