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Can you summarize 491 IAAC 11.12?
GAMBLING GAMES > Progressive slot machines.
Short Summary
This section of the Iowa Administrative Code governs progressive slot machines. It defines a progressive machine as a slot machine game with an award amount that increases based on credits bet and specific symbol configurations. The code requires progressive machines to have a meter displaying the progressive jackpot payout. Facilities must file the reset or base value and rate of increment with the commission representative. Limits on progressive jackpot payouts can be imposed by the facility, but must be prominently displayed. The code also covers the transfer of jackpots, record-keeping requirements, transfer of progressive slot machines, linked machines, and wide area progressive systems. Wide area progressive systems involve linking progressive slot machines across multiple facilities and states. The code sets conditions for the operation of wide area progressive systems, including licensing requirements, communication protocols, jackpot disbursement options, reserve requirements, and compliance reporting. The provider of a multilink system is responsible for administering system jackpots and must establish and maintain a reserve. The code also allows for the option of periodic payments or a discounted single cash payment for system jackpots. Multistate multilinks are permitted but subject to additional requirements and administrator approval.
Whom does it apply to?
Facilities operating progressive slot machines
What does it govern?
Progressive slot machines
What are exemptions?
No exemptions are mentioned.
What are the Penalties?
No specific penalties are mentioned.
Jurisdiction
Iowa