The bill revises the regulatory framework for fantasy sports leagues and the authority of the Board of Horseracing in Montana. It removes the Board's oversight of parimutuel fantasy sports gambling and deletes references to fantasy sports leagues in various legal definitions, including "parimutuel facility" and "parimutuel network." The legislation clarifies that the Board cannot permit betting on replays of past horse races, focusing instead on live events. Additionally, it establishes licensing requirements for race meets and prohibits fantasy sports wagering without a valid license, while also instituting penalties for non-compliance.

Moreover, the bill outlines financial regulations for parimutuel betting, mandating that licensees deduct 1% of total wagers for a state special revenue account, which will support live race purses. It specifies the distribution of source market fees from advance deposit wagering hub operators, with 80% allocated to live race meet licensees and 10% retained by the Board for administrative costs. The bill also clarifies the operation of fantasy sports leagues, making it illegal to wager on them via phone or internet, and sets limits on administrative fees to ensure that payouts to league members are proportionate to collected fees. Overall, the amendments aim to streamline and enhance the regulation of horseracing and fantasy sports in Montana.

Statutes affected:
SB0133_1.pdf: 23-4-101, 23-4-104, 23-4-105, 23-4-201, 23-4-202, 23-4-301, 23-4-302, 23-4-304, 23-5-801, 23-5-802, 23-5-805
SB0133_2.pdf: 23-4-101, 23-4-104, 23-4-105, 23-4-201, 23-4-202, 23-4-301, 23-4-302, 23-4-304, 23-5-801, 23-5-802, 23-5-805
Amended: 23-4-101, 23-4-104, 23-4-105, 23-4-201, 23-4-202, 23-4-301, 23-4-302, 23-4-304, 23-5-801, 23-5-802, 23-5-805
Introduced: 23-4-101, 23-4-104, 23-4-105, 23-4-201, 23-4-202, 23-4-301, 23-4-302, 23-4-304, 23-5-801, 23-5-802, 23-5-805