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Can you summarize 58 PACO Section 1408.8?
[Reserved] > Risk management.
Short Summary
This document governs the implementation of risk management procedures for sports wagering certificate holders and sports wagering operators. It requires them to have risk management procedures in place, which can be provided in-house or by an independent third party. The internal controls of these certificate holders and operators must include a description of their risk management framework, including automated and manual risk management procedures, user access controls for sportsbook personnel, segregation of duties, fraud detection measures, controls ensuring regulatory compliance, anti-money laundering compliance standards, descriptions of software applications and integrated third-party systems used in the sports wagering system. Additionally, any other information required by the Board must also be included. No specific exemptions or penalties are mentioned in this document.
Whom does it apply to?
Sports wagering certificate holders and sports wagering operators
What does it govern?
Risk management procedures for sports wagering certificate holders and sports wagering operators
What are exemptions?
No exemptions are mentioned.
What are the Penalties?
No specific penalties are mentioned.
Jurisdiction
Pennsylvania