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Can you summarize 68 INAC 27-5?
SPORTS WAGERING > Internal Controls and House Rules
Short Summary
The provided legal document content consists of three sections related to sports wagering operations. The first section pertains to internal controls that sports wagering operators must adhere to before commencing operations. These internal controls cover various aspects such as paying winning wagers in the event of system failures, user access controls, segregation of duties, risk management procedures, fraud reporting, prevention of wagering by prohibited participants, anti-money laundering compliance, and more. The second section focuses on the adoption of comprehensive house rules by sports wagering operators. These house rules must be approved by the executive director or their designee and cover aspects such as calculation and payment of winning wagers, handling schedule changes, notifying patrons of odds or proposition changes, expiration of winning tickets, and self-exclusion programs. The house rules must be displayed in the sports wagering lounge, posted on the operator’s website, included in the terms and conditions of the sports wagering account, and made readily available to patrons. The third section relates to the quarterly statements for withholding cash winnings from delinquent child support obligors. Sports wagering operators are required to prepare and submit quarterly summaries to the commission, detailing the cash winnings withheld for delinquent child support. The summary should include information such as the date of withholding, the amount of cash withheld, the amount of cash retained as an administrative fee, and specific details about the obligor. Additionally, the sports wagering operator must provide an updated list of authorized employees involved in the withholding process. These reports are deemed confidential, and no specific exemptions or penalties are mentioned in these documents.
Whom does it apply to?
Sports wagering operators
What does it govern?
Internal controls, house rules, and quarterly statements for withholding cash winnings from delinquent child support obligors
What are exemptions?
No specific exemptions are mentioned in these documents.
What are the Penalties?
No specific penalties are mentioned in these documents.
Jurisdiction
Indiana