KRS 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 receipt s" 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 t he 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 w riting 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 provi der 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 en force and collect all fees, penalties, taxes, and any other

payments imposed under this section.