Mich. Admin. Code R. 432.532a - Beginning players and highly experienced players
Rule 532a.
(1) A
licensed management company must classify a fantasy contest player as a highly
experienced player if the fantasy contest player has done at least 1 of the
following:
(a) Entered more than 1,000 fantasy
contests offered by the licensed management company.
(b) Won more than three prizes each valued at
$1,000.00 or more from the licensed management company.
(2) Once a fantasy contest player is
classified as a highly experienced player by a fantasy contest operator or
licensed management company, the fantasy contest player must remain classified
as a highly experienced player.
(3)
A fantasy contest operator or licensed management company must identify each
highly experienced player by a symbol attached to the highly experienced
player's username. The symbol must be clear and conspicuous to other fantasy
contest players.
(4) A fantasy
contest operator or licensed management company must do all of the following:
(a) Offer some fantasy contests that are open
only to beginning players.
(b)
Prohibit a fantasy contest player who is not a beginning player from entering a
fantasy contest open only to beginning players as determined at the time of
entry.
(c) Offer some fantasy
contests that are open only to fantasy contest players other than highly
experienced players.
(d) Prohibit a
highly experienced player from entering a fantasy contest open only to fantasy
contest players other than highly experienced players as determined at the time
of entry.
(5) A fantasy
contest operator or licensed management company must adopt introductory
procedures for beginning players that must meet the following minimum
conditions:
(a) The introductory procedures
must be clearly and conspicuously available to a beginning player.
(b) The introductory procedures must include,
but are not limited to, the following information:
(i) Information explaining how fantasy
contests are played.
(ii)
Information on how to identify highly experienced players.
(c) The introductory procedures must provide
information on how to participate in fantasy contests that are open only to
beginning players as a learning experience.
Notes
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