NEWARK, N.J. - New rules that govern how fantasy sports companies operate and advertise in New Jersey are now in effect.
The state Division of Consumer Affairs adopted the rules last week, building on a law signed in 2017 as the industry mushroomed before the legalization of sports gambling a year later.
Fantasy sports participants create rosters by selecting real players and then compete against other contestants based on the statistical performances of those players to win money. Sports gambling allows participants to bet on the outcomes of games as well as on individual players’ performances.
The new rules adopted this month require fantasy sports operators to adopt procedures that ensure no minors participate, and prohibit them from extending credit to participants. Operators also must allow individuals the ability to restrict themselves from participating, similar to casinos’ self-exclusion lists.
They also forbid operators from advertising at sports venues used exclusively for elementary and high school sports activities. Regulators amended earlier language so that advertising at college sports venues wouldn’t be prohibited.
Employees, officers and directors of fantasy sports companies also are restricted from participating in the contests.
The new rules also prevent fantasy sports operators from counting competition credits, merchandise, or admission to another competition against their total gross revenue for tax purposes.
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