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Can you summarize 9 NYCRR 5329.10?
Sports Wagering > Sports pool system requirements.
Short Summary
This document outlines the requirements for operating a sports pool system. It applies to operators of sports pools and provides guidelines for the submission and approval of equipment and software used in conjunction with the operation of a sports pool. The server or equipment used to accept wagers must be located within the casino. The document also requires the inclusion of a risk management framework in the system submission, which includes user access controls, segregation of duties, automated risk management procedures, fraud detection measures, regulatory compliance controls, and anti-money laundering compliance standards. The sports pool system must maintain transactional betting data for 10 years and record information for each wager made, including event details, wager selection, type and amount of wager, date and time of wager, unique identifier, and expiration date of the wagering ticket. Wagering tickets and vouchers issued by the system must contain specific information, and the system should be capable of recording voucher redemption details. The system must also perform various functions such as creating, settling, voiding, and cancelling wagers, and preventing excessive wagers or payouts without supervisor authorization. It should prevent past posting of wagers and known event outcomes. The system should undergo self-authentication processes, review data feed accuracy and timeliness, and provide commission access to necessary data. The document emphasizes the importance of maintaining controls, recording errors or incidents, and redeeming lost wagering tickets. No specific penalties are mentioned in the document.
Whom does it apply to?
Operators of sports pools
What does it govern?
Sports pool system requirements
What are exemptions?
No exemptions are mentioned.
What are the Penalties?
Not specified.
Jurisdiction
New York