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Can you summarize 13 NJAC Chapter 69N?
LAW AND PUBLIC SAFETY > SPORTS POOL AND ONLINE SPORTS POOL WAGERING AT CASINOS AND RACETRACKS
Short Summary
This legal document, part of the New Jersey Administrative Code, governs the requirements and restrictions for wagering operators in the context of sports pool and online sports pool wagering at casinos and racetracks. The document outlines various provisions that wagering operators must adhere to. These include providing written notification to the Division prior to accepting wagers on a new category of wagering event, accepting wagers only on events with verifiable and independent outcomes, generating wagering tickets with specific information, not rescinding wagers without Division approval, accepting patron wagers in cash or authorized vouchers and gaming chips, displaying available wagers publicly, prohibiting wagers on certain events, redeeming winning wagering tickets through the wagering system, and not voiding wagering tickets after the start of an event. The document also mentions the expiration of unclaimed winning tickets after one year. Overall, this document sets forth the rules and procedures that wagering operators must follow in order to comply with the law and ensure fair and transparent wagering practices. A wagering operator may, in its discretion, accept a layoff wager from another New Jersey wagering operator. A wagering operator placing a layoff wager shall disclose its identity to the wagering operator accepting the wager. A layoff wager and, if applicable, a resultant payout shall not be included in the calculation of gross revenue. Operators shall maintain adequate cash reserves, as determined by the Division, to cover winning wagers.
Whom does it apply to?
Casino or racetrack licensees, sports wagering licensees, sports pool operators, integrity monitoring providers, and prohibited sports pool participants
What does it govern?
Casino sports wagering licenses and casino and race track sports wagering operations
What are exemptions?
No specific exemptions are mentioned in the document.
What are the Penalties?
No specific penalties are mentioned in the document.
Jurisdiction
New Jersey