Kentucky Revised Statutes · § 230.846 — Initial license fees -- Annual renewal fees -- License terms -- Procedures

(1) (a) A fantasy contest service provider that is currently licensed as a sports wagering service provider under this chapter shall pay an:

1. Initial license fee of seven thousand five hundred dollars ($7,500); and

2. Annual renewal fee of five thousand dollars ($5,000).

(b) A fantasy contest service provider that is not currently licensed as a sports wagering service provider under this chapter shall pay an:

1. Initial license fee of fifteen thousand dollars ($15,000); and

2. Annual renewal fee of ten thousand dollars ($10,000).

(c) 1. As used in this paragraph:

a. "Adjusted gross fantasy contest receipts" means the total sum of entry fees collected by a fantasy contest service provider from all fantasy contest participants entering a fantasy contest, less winnings paid to fantasy contest participants in the contest, multiplied by the location percentage; and

b. "Location percentage" means the percentage of the total entry fees for each fantasy contest collected from fantasy contest participants located in the Commonwealth divided by the total entry fees collected from all fantasy contest participants in the fantasy contest, rounded to the nearest one-tenth of one percent (0.1%).

2. A fantasy contest service provider that has less than fifty thousand dollars ($50,000) a year in adjusted gross fantasy contest receipts shall pay an:

a. Initial license fee of five thousand dollars ($5,000); and

b. Annual renewal fee of one thousand dollars ($1,000).

3. a. If a fantasy contest service provider exceeds the fifty thousand dollar ($50,000) threshold any year, the fantasy contest service provider shall within ninety (90) days of exceeding that threshold resubmit an application for licensure to the corporation and pay the initial license fee and annual renewal fee that is applicable to the fantasy contest service provider under paragraphs (a) and (b) of this subsection.

b. The fantasy contest service provider shall only pay the difference between the applicable initial license fee required in subparagraph 3.a. of this paragraph and the previously paid initial license fee in subparagraph 2.a. of this paragraph.

(2) A fantasy contest service provider that was offering contests to persons located in this Commonwealth before July 15, 2026, may continue to offer contests to persons located in this Commonwealth until the fantasy contest service provider's application has been approved or denied, if the fantasy contest service provider submits an application for licensure with the corporation within ninety (90) days after the corporation promulgates administrative regulations to effectuate KRS 230.830 to 230.848.

(3) (a) Licenses issued by the corporation shall remain in effect for one (1) year. The corporation shall promulgate administrative regulations in accordance with KRS Chapter 13A to establish a process for renewal.

(b) A fantasy contest service provider may request in writing to the corporation an extension to renew the fantasy contest service provider's license. If the fantasy contest service provider allows the license to lapse without requesting an extension time to file, the fantasy contest service provider shall resubmit an initial application.

(4) A fantasy contest service provider applying for a license or renewal of a license may operate during the application period unless the corporation:

(a) Has reasonable cause to believe that the fantasy contest service provider is or may be in violation of a provision of KRS 230.830 to 230.848; and

(b) Requires the fantasy contest service provider to suspend the operation of any fantasy contests until the license or renewal of a license is issued.

(5) The corporation shall enforce and collect all fees, penalties, taxes, and any other payments imposed under this section.