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Can you summarize MDCR 36.10.14?
SPORTS WAGERING PROVISIONS > Sports Wagering Requirements and Limitations
Short Summary
The provided legal document content covers various aspects of sports wagering in Maryland. It includes regulations for submitting complaints regarding sports wagering activities, reserve requirements for sports wagering licensees, funding methods for bettor’s sports wagering accounts, and limits and requirements for accepting wagers. The documents apply to sports wagering licensees, bettors, and the Maryland State Lottery and Gaming Control Agency. The regulations outline the process for submitting complaints to the Commission, including the required information and the possibility of a public hearing. It also specifies the reserve requirements for sports wagering licensees, including the types of assets that can be included in the reserve and the prohibition on removing funds without written approval. The documents provide a list of approved funding methods for bettor’s sports wagering accounts, including cash deposits, wire transfers, and debit cards. It also prohibits extending credit to bettors and requires bettor accounts to have sufficient funds to cover wagers. The regulations establish responsible wagering limits for sports wagering platforms, including deposit limits and limits on the amount wagered or lost within a specific time period. It also allows registered bettors to change their limits, with certain restrictions. The documents prohibit certain types of wagers, such as wagering on high school athletic events and wagering involving cheating or individuals with authority over sporting events. It also prohibits accepting or facilitating wagers on unapproved sporting events and from excluded individuals or employees of sports wagering licensees. The regulations require sports wagering licensees to seek approval from the Commission before accepting sports wagers and specify the types of wagers that can be offered. The maximum wager that may be accepted by any sports wagering licensee from a patron on any one sporting event is limited to $5,000,000. No specific exemptions or penalties are mentioned in these documents.
Whom does it apply to?
Sports wagering licensees, bettors, and the Maryland State Lottery and Gaming Control Agency.
What does it govern?
Sports wagering activities, reserve requirements for sports wagering licensees, funding methods for bettor's sports wagering accounts, and limits and requirements for accepting wagers in the context of sports wagering in Maryland.
What are exemptions?
No specific exemptions are mentioned in these documents.
What are the Penalties?
No specific penalties are mentioned in these documents.
Jurisdiction
Maryland