What is Fantasy Sports Markets?
Modoc MTE, LLC dba Fantasy Sports Markets (FSM) offers various fantasy sports contests to eligible individuals throughout the United States. In each contest, participants will create a roster from the available athletes, or players, provided by FSM. The FSM Fantasy Sports contests are primarily associated with professional Football, NCAA Football, Basketball, NCAA Basketball, Baseball, Auto Racing, Hockey, Jockey Challenge; other contests are currently in development. There are no salary caps required. Participants use their skill in selecting athletes. Participants can be awarded real money by creating a team of top performing athletes and purchasing that team as and entry into a specific contest. The entered team’s performance is measured against other participant created and entered teams for that contest. The winning team(s) are determined by the FSM Fantasy Points Scoring System, and the winning participant per position will be awarded the offered FSM prize, if any. FSM is legally owned, operated, regulated, and accepts Credit and Debit cards for participation.
Product of Modoc MTE, LLC, a wholly owned and operated company of the Modoc Tribe of Oklahoma, a Federally Recognized Tribe. All transactions between Modoc MTE, LLC dba Fantasy Sports Markets, take place and are regulated within the sovereign jurisdiction of the Modoc Tribe of Oklahoma.
FSM revenues do not go into the pockets of private investors or large companies; our revenue production goes into assisting our Tribal government to provide services to Modoc Tribal members, and the people within our community. Our operations provide much needed support in the form of scholarships for education, housing support, childcare, healthcare, employment and business development opportunities, and many other important services.
How is Fantasy Sports Markets different from other Fantasy Sports services?
FSM removes the requirement of Salary Caps so you can truly create your best lineup of athletes!
FSM offers you the opportunity to create the best lineup that you possibly can, the true meaning of fantasy sports. You can create your best line ups and compete against every other participant in that contest to win the offered prize, and possible bonus prize based upon your skills. That’s right, we offer Bonus Prizes!
Do you hate to be capped on how many entries and teams you can make or don’t like the team you entered? No Problem! FSM allows you to create as many teams as you want.
Promotional Money and Prizes! FSM offers our participants the availability to use their promotional money in all the active FSM contests, unless otherwise noted. FSM will periodically provide opportunities to our account holders to use released codes through various outlets, or contests specifically. FSM will also host Free-to-enter contests for participants to win a displayed prize or win more promotional money.
How is Fantasy Sports Markets Legal?
Modoc MTE, LLC dba Fantasy Sports Markets (FSM) is a legal fantasy sports operation under Federal Law 31 U.S.C. §§ 5361-5367, passed by the U.S. Federal Government in 2006 and Modoc Tribal law. The Unlawful Internet Gambling Enforcement Act (UIGEA) includes an exemption indicating the legality of fantasy sports. FSM is also in compliance and permitted under the Modoc Fantasy Sports Statute (2015). Your agreement and usage of FSM Services under the Terms And Conditions permits transactions to take place within the exclusive jurisdiction of the Modoc Tribe and are legal as long as you are a resident of the United States of America and at least 18 years of age. If you’re outside of the U.S. – Don’t worry, we’re working on something for you too.
FSM and its offered contest(s) are not gambling as determined by the Modoc Tribe of Oklahoma and the Modoc Sports Commission, and FSM is legally operated within the Modoc Tribe of Oklahoma Jurisdiction in all regards. The Modoc Sports Commission regulates and approves all contests, prizes, and is aware of all payouts and participants. FSM Employees are not permitted to participate in any FSM Contest and are not permitted to enter in any other Fantasy Sports provider contest. Again, FSM DOES NOT ENTER THEIR OWN, OR ANOTHER DFS SITES CONTESTS.
All prizes and awards offered to winning participants are established and made known to the participants in advance of the contest and their value is not determined by the number of participants or the amount of fees paid by participants.
Am I playing against the entire world, like other Fantasy Sports Providers?
FSM is only available in the United States, right now.
What Can I Win?
Real Money and Awesome Prizes! Available prize information and a contest description can be found on each draft lobby page, for each contest. FSM may, at its discretion, offer all available contests and prizes, or limit them.
Where can I find out about scoring information and more information on the contest rules?
How can I make a Deposit and/or Withdrawal?
The minimum deposit amount into a participants account is $5.00; the minimum withdrawal is $1.00. Deposit funds utilizing Fantasy Sports Markets (FSM) Secured Transaction Processing Gateway. FSM Secured Transacting Processing Gateway accepts funds using a Visa, MasterCard, American Express Credit, Visa or MasterCard Gift Cards, or a Debit Card. A credit card may not be used to withdraw funds.
You can withdraw your money at any time, presently by requesting a Check. The FSM Secured Transaction Processing. Check withdrawal requests will take roughly 7-10 business days to be processed and delivered.
What are the associated IRS implications and what do I file if I win?
FSM may request additional information before your withdraw is approved. You may be requested to provide your mailing address and SSN before the withdrawal is processed; in the event that your annual net winnings exceed $600, in which case FSM is required to file a 1099-MISC tax form. FSM uses statistics as provided by FantasyData.com, or another provider, and all contests that are deemed to be official and complete by the Modoc Sports Commission at their discretion.
Any participant that wins and attempts to withdraw money in excess of $600.00 (USD) in a calendar year will be required to submit their social security number to conform to IRS requirements. W-9 forms are available at the IRS Website. Participants that win in excess of $600.00 and attempt to withdraw will be notified that they are required to fill out a W-9, in which they may send their W-9 document to:
Fantasy Sports Markets
515 G. Street SE
Miami, OK 74354
These winners will receive a 1099 – Misc. Income form from Fantasy Sports Markets in January of each year. Winners of $600.00 or more will not be able to withdraw funds from their account until they have provided this information.
Fantasy Sports Markets will make every attempt to contact the prize winner through all communication methods available to us (email, U.S. Mail, telephone) to obtain the necessary information. However, if we fail to contact the prize winner and/or we are unable to obtain the required information after one year, the prize winner forfeits the funds to Fantasy Sports Markets.
COMPLIANCE WITH UNITED STATES TAX CODE
Pursuant to United States federal tax code, Fantasy Sports Market is required by law, to withhold 30% of all claimed winnings by Non-US Residents. Should you choose to cash out the 30% tax withholdings will automatically be deducted from your winnings at the time you request a payout. The total requested payout will be deducted from your account, but you will receive the amount less the 30% withholding.
Please keep in mind that Fantasy Sports Market does not keep this money. It is transmitted to the United States IRS along with Form 1042-S to report your earnings. You may reclaim this money through proper filings, assuming you qualify. Please consult an Accountant or Tax Preparer for more information.
Who Can Be a Participant?
Anyone age 18 or over who is physically located within the United States and agree to the FSM Terms and Conditions.
How to make a suggestion, need support, or complaint?
If a participant would like to make a suggestion or needs support, they may call our customer service line at 1 (866) 863-4818 or Contact Us.
Should a participant want to make a complaint or request an inquiry, they may do so through the Contact Us page. The complaint will be reviewed, and an issue that merits a decision will be done so at the discretion of the Modoc Sports Commissioner. The Modoc Sports Commissioner is the final arbiter and decisions are legally binding.