Md. Code Regs. 36.09.04.02

Current through Register Vol. 51, No. 22, November 1, 2024

Section 36.09.04.02 - Limits on Deposits

A. This regulation does not apply to season-long fantasy competitions.

B. Except as provided in §C of this regulation, a fantasy competition player may not deposit more than $5,000 in a single calendar month with a fantasy competition operator.

C. Exception. A fantasy competition player may request a fantasy competition operator to temporarily or permanently increase a deposit limit above $5,000 per calendar month only if:

(1) The fantasy competition operator has established and prominently displayed procedures for considering a request from a fantasy competition player to increase the deposit level;

(2) Procedures for considering a request from a fantasy competition player to increase a deposit level include evaluation of information, including evidence of income or assets, sufficient to confirm the financial ability of a fantasy competition player to afford losses which may result from fantasy competition play at the deposit level requested by the fantasy competition player; and

(3) After a temporary or permanent deposit level increase has been approved, the fantasy competition player undergoes an annual evaluation by the fantasy competition operator of information sufficient to confirm the continued financial ability of the fantasy competition player to afford losses that may result from fantasy competition play at the increased deposit level.

Md. Code Regs. 36.09.04.02

Regulation .02 recodified and amended from 36.01.01.07 effective 49:3 Md. R.137, eff. 12/16/2021; recodified from 36.09.01.07 effective 49:11 Md. R. 610, eff. 5/30/2022