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Can you summarize 1 COCR 207-2 RULE 7 7.9?
REQUIREMENTS OF SPORTS BETTING OPERATIONS Effective 4/14/20 > Accounting controls for the casino onsite Sports Betting Operation.
Short Summary
This document outlines the accounting controls for the casino onsite Sports Betting Operation. It applies to Sports Betting Operators and Sports Betting Operations. The document requires the establishment of internal audit procedures and the observation and testing of cashiering compliance with internal controls. It also mandates accounting controls for the Sports Betting Operation, including the use of imprest amounts for sports betting inventory, completion of a sports betting count sheet, and reconciliation of net receipts. Additionally, the document emphasizes the need for policies and procedures to account for all transactions flowing through the casino cage within the Sports Betting Operation. The Director may require additional procedures to ensure compliance. Overall, this document aims to ensure proper accounting practices and controls within the Sports Betting Operation.
Whom does it apply to?
Sports Betting Operators and Sports Betting Operations
What does it govern?
Accounting controls for the casino onsite Sports Betting Operation
What are exemptions?
No exemptions are mentioned
What are the Penalties?
Not specified
Jurisdiction
Colorado