Code of Colorado Regulations
200 - Department of Revenue
207 - Division of Gaming - Rules promulgated by Gaming Commission
1 CCR 207-3 - RULES OF FANTASY CONTEST OPERATOR LICENSING AND REGISTRATION
4 - REQUIREMENTS OF FANTASY CONTEST PROVIDERS
Current through Register Vol. 47, No. 5, March 10, 2024
BASIS AND PURPOSE FOR RULE 4
The purpose of Rule 4 is to establish the requirements for patron accounts and to direct fantasy contest providers to establish internal control procedures. The statutory basis for Rule 4 is found in sections 44-30-203, C.R.S., 44-30-204, C.R.S., 44-30-1604, C.R.S., 44-30-1606, C.R.S., 44-30-1607, C.R.S., and 44-30-1610, C.R.S., and Part 16 of Article 30 of Title 44.
4.1 Patron accounts.
Before a patron is allowed to enter a fantasy contest, a fantasy contest provider shall:
A full identity check and verification must be completed before a patron is allowed to enter a fantasy contest:
A fantasy contest provider shall not permit a patron to transfer funds from their patron account to another patron's account.
A fantasy contest provider shall provide a conspicuous and readily accessible method for a patron to close their account. Any balance remaining in a patron's account closed by a patron shall be refunded pursuant to the provider's internal controls.
A fantasy contest provider shall consider a patron account to be dormant if the patron has not logged into the account for at least three (3) years calculated from the patron's last log-in date. A dormant account shall be closed by the fantasy contest provider.
4.2 Internal controls.